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Monday, June 30, 2008 @ 09:45 in Indian Property, Indian Real Estate

Can Non-Indian buy a hotel in India?

Question asked by Mr Lise from USA :

Vatsala,
Hi !
Can Non-Indian buy a hotel in India?because I heard that if you are Non-Indian you can buy a property but only to make a business with it. Is that correct?
Thank You
Regards
Mr. Lise, USA

Vatsala Answers:

As a foreigner, you cannot purchase property in India except through a foreign company and for the purpose of conducting business in India. If you own a company, you should open a branch in India and then purchase the hotel without any difficulty by going through the automatic approval route of the RBI. (Reserve Bank of India). Vatsala

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