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Foreign Person

Krishna (Manager - Genesis Tax Consultant) (531 Points)

09 January 2019

Foreign person is wish to setup his business in India, also he plan to buy a property for his factory.

Is it possible directly to buy the property in India??? or should he needs to do an Incorporation by taking the rental agreement and then buy the land for his factory. Please clarify me in this regard.

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7 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 09 January 2019

He can buy property by just taking PAN number in India

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Krishna (Manager - Genesis Tax Consultant) (531 Points)
Replied 09 January 2019

Dear Mam, Thank you for the update, if he wish to buy the property in the company name what is the procedure???

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 09 January 2019

Company PAN no. and all registration documents of company and PAN of directors of company is must

Krishna (Manager - Genesis Tax Consultant) (531 Points)
Replied 09 January 2019

Dear Mam, Thank you so much, In this case should they need to take Rental office for the principal place of business for the Registration???

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 09 January 2019

They can buy property in their own name and then give the same to company under an agreement for use.

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Krishna (Manager - Genesis Tax Consultant) (531 Points)
Replied 09 January 2019

Thank you so much Mam!!!

CS M Pota (Company Secreatary) (3186 Points)
Replied 16 January 2019

Foreign person is a foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India.