Foreign owned property in Goa, (Part One)

abraacasa

The having an intention to stay in Goa as dribyar said is very important to claim residency and legally purchase.
Todays Herald has a large public notice in it warning all foreigners to abide by the rules when buying property and stating that they will take action against any who have defaulted in the past.

They say
Foreign nations are advised to study clause 6 (3) of FEMA 1999 dated 3rd May 2000 and Master circular number 05/2005-06 dated 1st July 2006 available on www.rbi.org.in

I have just looked for the circular to see if it says anything interesting but cant find it! Never mind it maybe just me, maybe someone else will have more luck cause I must be looking in the wrong place. At least they are making an effort to ensure that people are aware of the rules which is a start.

bellcrank

I saw the notice on Goanet today


PUBLIC NOTICE
----------------------------------------------------------------------------
PURCHASE OF PROPERTIES IN GOA BY FOREIGNERS

It has come to the notice of the Government that in violation of
Foreign Exchange Management Act, 1999, and RBI instructions
issued from time to time, foreign nationals (excluding NRIs & PIOs) are buying immovable property in Goa. This has caused great
consternation in the minds of the public and has unnaturally affected the real estate market in the State. It has also caused great concern to the State Government that such activities, in violation of existing legislation, are being carried out rampantly.

Therefore, the State Government hereby cautions and warns all
foreign nationals as stated above to abide by all RBI instructions and circulars with respect to acquisition of immovable property.

Such foreign nationals are also advised to study the Clause 6 (3) (i)
of Foreign Exchange Management Act, 1999 read with FEMA
Notification No. FEMA 21/2000-RB dated 3rd May 2000 and Master
Circular No. 05/2005-06 dated 1st July 2006 available on
website <http://www.ribi.org.in>www.ribi.org.in which deals with the acquisition of immovable property by such foreign nationals before intending to by any property in Goa.

Land Owners wishing to sell their land to such foreign nationals
are also advised not to pay heed to the agents who facilitate such transactions, but acquaint themselves with the Foreign Exchange Management Act, 1999 and the instruction of RBI in the matter of immovable property by such foreign nationals. In case of any doubt, the Revenue or the Finance Department of the State Government may be contacted for seeking explicit clarifications.

The State Government will take appropriate action against all existing defaulters who have acquired immovable property illegally and in violation of the existing provisions of law.

Issued by
Revenue Department,.
Government of Goa, Secretariat, Porvorim, Goa.
DI/631/06
------------------------------------------------------

I wonder what "appropriate" action means?

The RBI circular can be found at

http://rbidocs.rbi.org.in/rdocs/noti...#_Toc139173440

Nothing new here I think, just a consolidation of all the info in FEMA including amendments etc to date

Nick-H

What's new is that they are making a big public announcement of it, rather than just keeping the regulations tucked away...

(thanks for posting that)

AnnieG

I had a rather scary email today from a friend in Goa who says that foreigners who own property are required to have CONTINUAL residency status, not just the 182 days required to purchase.

Sounds like scaremongering to me, but if anyone can throw any light on it.

Thanks.

__________________
AnnieG

Live life to the full - you never know what's around the corner.

AnnieG

Here's a new one:

A new visa called a Medical Visa for those going to India for medical treatment and requiring long term stay.

See http://sify.com/news/othernews/fulls...hp?id=13891958

Nick-H

I suspect that there will be a lot of rumours going around, both in Goa (...and the rest of India) and among those outside India who own property here. It must be very worrying for you, and very frustrating not being able to get completely reliable information minute by minute.

AnnieG

Too right.
And, as someone else pointed out in here in another thread, it is not just the Indian Government that is capable of chopping and changing the rules. The British Government does much the same, and often it is the Indians who suffer.

It's important not to get arrogant, I think, and bear in mind the real meaning of being a foreigner in India. They CAN change the rules, they can do anything they want!

Nick-H

Yes, indeed.

I feel safe because I have an Indian wife, and I just want to relax, settle down and make this my home. But there is always a tiny, tiny worry...

greenchutney

welcome to the brain-land that a lot of indians feel in other countries. the british govt kicked out the indian NHS doctors giving them scant notice because they want to suck up to the EU, so they can be it and be outside of it...so they can get all the lovely east europeans that dont speak english...be better docs..in the NHS...

hmmmmm..nick..i dont think you should have a problem...after all the leader of the ruling party was an italian before..and she almost became the prime minister...wait..she is the prime minister now..the private one they should call her...the backseat prime minister...

capt_mahajan

agree with gc about what indians feel in other countries sometimes.

however, we do not have to follow every bit of stupidity in the world, do we?

greenchutney

you might call it stupidity..i am might call it making it a level playing field

if the indian govt has to give it back to the british govt for their treatment, then they will act in the same way. in the twisted world order, sometimes you get hurt for standing up on your own or for that ideals..sometimes you can take that, sometimes it requires for you to give it back.

let indians get treated the same way, lets be reciprocal in whatever manner. and i am willing to put up with these regardless of that economic impact some people crow about.

capt_mahajan

not for the economic impact.

just out of decency.

and the logic of level paying field is ok, though i agree with gandhi (as i am getting older i am agreeing with him more!) that an eye for an eye makes the whole world blind.

greenchutney

true and flipping gears.~ ..when there are thousands if not more walking across from nepal, bangladesh and sri lanka everyday..how many others like the ones on this thread are we talking about really? 1000 at most per year?

all those folks in this thread, just a get a dark spray tan, color that hair, learn some indian language a lil' bit, and just feed the local official and his entire family...you should be set for twenty years atleast........and if it really gets hard..just get that fake marriage certificate to some poor indian local and feed him for whatever time.....

Nick-H

Yes, I feel safe with Mrs G in charge

But governments change ... ... ...

If I didn't think that India was a civilised country that would not throw people put and keep their property I wouldn't be here. But there were once a lot of Asians in Kenya that must have thought the same

Nick-H

Bit difficult for those of us that already have a real one! (and assuming that you mean him or her

But I guess I'd better try a whole lot harder at Mrs N's Tamil lessons