Purchase of land by n r i

gopalaswamyb (Querist) 19 July 2012 This query is : Resolved
An NRI wants to purchase a residential house
after disposing some property aquired earlier and from that capital. he has a N R I a/c but does not have local address or driving licence for sighning a registration
he has a P A N Card Kindly clarrify whether it is possible to sign the registration or power of authority with these document

gopalaswamy b

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Devajyoti Barman (Expert) 19 July 2012
With the permission of RBI even a foreign national can buy a property.
For executing a POA there is no such restrictions , it is only with regard to buying property in India.

Raj Kumar Makkad (Expert) 19 July 2012
He can very well sign each and every document meant for this purpose as there is no such requirement which you mentioned in your query.

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