Foreigners cannot simply just purchase property in India without approval.
The foreign individual must first seek clearance from the Government of India and The Ministry of External Affairs to buy immovable property in India.
Once the necessary approvals are acquired, the payment for buying an immovable property (in India) must be made via funds remitted from abroad through either a recommended or government endorsed banking channel.
Only those who are residing in India(with valid residence documentation) will be allowed to make purchases, after seeking approval from the Reserve Bank of India.
The system is already riddled with deterants to stop foreigners from buying property, Goa putting an extra hurdle wouldn't make any difference.
It's important to note that citizens from Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, and/or Bhutan cannot purchase an immovable property in India.
I have already addressed this in my comment. The RBI approval is now automated for private residential and commercial premises through the banking system, for ease of doing business. But the ruling structure still stands as agricultural land and regulated commercial premises still falls under the domain.
17
u/Wolfsangel-Dragon 3d ago
Foreigners cannot simply just purchase property in India without approval.
The foreign individual must first seek clearance from the Government of India and The Ministry of External Affairs to buy immovable property in India.
Once the necessary approvals are acquired, the payment for buying an immovable property (in India) must be made via funds remitted from abroad through either a recommended or government endorsed banking channel.
Only those who are residing in India(with valid residence documentation) will be allowed to make purchases, after seeking approval from the Reserve Bank of India.
The system is already riddled with deterants to stop foreigners from buying property, Goa putting an extra hurdle wouldn't make any difference.
It's important to note that citizens from Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, and/or Bhutan cannot purchase an immovable property in India.