Foreign owned property in Goa, (part Two)

GoanCanuck

The conversion of foreign currency to INR is not what the RBI is bothered about. The focus is currenty on whether the person who purchased the property did so on a tourist visa and "the purpose of stay" in India of the concerned person.

dzibead

Unfortunately the advice is misleadingly incomplete because it utterly fails to address the fact that a foreign national who does not have the kind of immigration status that allows him or her to qualify as "resident in India" can't purchase immovable property in the first place. All the post's common sense-type advice, which simply boils down to "keep your wits about you," isn't actually very useful when the transaction is fundamentally off limits to you anyway.

mal ishus

just love saying this to the local's they look at you gone out HOW MUCH

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mal ishus

this is what it all boil's down to, but because someone convince's them they can work round the system people keep trying they will not realise that the people doing the telling have nothing to lose they only gain from the deal then move on to the next guy,but there is alway a paper trail left for the goverment guy's to follow in every case no matter how much later they turn up.We have several good friend's in this position who have sold up every thing in the uk for their property in goa and still think every thing in the garden is rosythier biggest worry is what colour to have their jeep's painted.

a_f_d

Hi,
I'm new to this list but not to the 'buying property in Goa' sceen.
I have followed several of the arguments on this thread (parts 1 and 2) and ianalb I must take issue wit dzibead's carefully reasoned arguments on two points:
'immigration status' as a consideration seems to me to be of his own devising, and (re: Pt 1 ## 420, 515, 516 et al) the phrase 'uncertain period' does *not* imply 'uncertain period of more than 182 days'.
I agree that possession of a tourist visa *might* seem to indicate an intention to stay for 'a period certain', but this would need to be established in law (which afaik it hasn't been) - and the fact that only tourist visas were available would *weaken* this assumption.

Noni

Hi I received a very long and informative email from one of Goa's top developers.
I will share parts of it with you all.
The reason that the lease contract has a duration of under 5 years is because the regulations prescribe that any lease arrangement of 60 months or more required the lessee to fulfill the residency requirements.
Recently there have been news reports about foreign nationals buying property in India complying with the requirements of the Foreign Exchange Management Act 1999 (FEMA) a central law administered by India's central government. The issue has been stirred up by a local politician because many foreign nationals (Russians, Israelis etc) have illegally acquired vast tracts of land and/or running businesses (some of which are fronts for nefarious activities) such as bakeries and resturants, etc on tourist visas and all this has naturally upset the locals.
There has been no change in FEMA. However, registrars at local land-registry offices who are Goa State Government officials have been asked by the Goa administration to ensure that the existing law is not violated when Title Deeds of foreign nationals are lodged for registration The Home Department has been asked to ensure that criminal elements are kept at bay. The Property Registry Office HAS INDEFINATELY PUT ON HOLD ALL APPLICATIONS FOR REGISTRATION OF FREEHOLDS i.e. SALE DEEDS PERTAINING TO FOREIGN NATIONALS OF NON INDIAN ORIGIN (even if they have the 182 days stay in the previous financial year qualification) till these are screened by the Home Department of the Goa/Cental government.
FEMA provisions do not contain any reference to type of visa, so the statements in the press that foreign nationals on tourist visas cannot purchase (the freehold) do not have any legal basis, according to reputed legal advisors in Goa.

Good topic for a wet and windy Sunday.


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Moderator Note... Noni, the whole of your post ended up in a quote box attributed to a_f_d. I'm assuming that the first part is your post, and I have edited the formatting accordingly. The colour tags got confused too. If I got it wrong please PM me and I'll try to sort it out.

Noni

Hi, Will do.
Had a job sending the thread to you to-day for some reason.

Noni

I have also been informed that even when Purchasers have progessed to Freehold Title, the purchase money has to come into Goa through the proper banking channels, and the purchase of the property has been legally registerd by the Sub-registrar. There is No scope or jurisdiction for confiscation of the property by the Goa Government in the context of alleged violations of FEMA.

dzibead

Noni, the fact that the information you posted was in an "from one of Goa's top developers" should, in and of itself, cause a red flag to go up.

capt_mahajan

Bold yours.

FEMA is a Central government act. They can are the ones to watch out for, not the State (Goa) government.

Noni

Well at least it was more understandable than anything else, and we all know it is luck on the day what happens to you in India.

GoanCanuck

These so called "top developers" are the same ones who are responsible for getting people into the present mess. Their "advice" is not unbiased or neutral by any means.

mal ishus

As Nelson said when he put the telescope to his blind eye "WHAT SHIPS"

Nick-H

I think you are getting Nelson mixed up with Drake?

Have a feeling that, at one of his sea victories, Nelson 'failed' to see the signal ordering him to withdraw.

Drake felt he had plenty of time to finish a game of bowls before taking on the Spanish Armada. He was right, but ISTR that the victory over the Spanish that day was won more by the weather than by the English navy!

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Noni

I know "You pay your money and take your pick" but you ought to have seen some of the replies I have received from one Calengute Estate Agent. At lease I have the Deeds registered in my name - so I may as well stop worring and just worry about what colour to paint my jeep!!!!
Whatever the outcome of the renewal of my visa and the Directorate of Enforcement enquiry. What will be will be!