Bipat

Andy most of my knowledge of buying in Goa has come from reading your posts! (and then looking up further).
2000 is not that long ago in legal terms. Your previous posts have certainly given rise to the view that there is a change in the situation in practice.
You yourself have posted about only just registering your deeds.

In our dealings with property law in India (in a different context and not in Goa) the law has not been ignored.

Obviously for inheritance the testator must be dead! This OP wishes to buy from a living relative.

Resident at the instant of purchase?
http://finmin.nic.in/the_ministry/de...A_act_1999.pdf

Are you really saying that it is possible for this OP to just get a business visa and purchase in Goa legally which is what he/she asked!!!!

a_f_d

From the definition of 'resident' it is clear that the earliest point in time that it is possible to evaluate resident status is the first day of a financial year (there is now a 'preceding financial year') - the following is an extract from a very long and boring analysis of FEMA that I made a while ago:
An interesting consequence of these rules is the transient nature of FEMA residency. Compare the case of residency for income tax purposes where it is possible to decide at the start of a fiscal year whether a person was resident in the ‘relevant previous year’ (and no subsequent action in the current year will change that), whereas a person who is FEMA resident at the start of a fiscal year can instantly loose that resident status e.g. by leaving India to take up employment abroad.
When considering FEMA residency then it is necessary to ask the question “at that particular date and time was the person resident?”


I don't think I mentioned B visas, I certainly never suggest it as a way to acquire property - as you pointed out it would be necessary for OP to start a genuine business* (which under the latest rules would need at least one director to be resident in India for 183 days in each year, and to extend the visa would have to turn over at least 2 Crores pa after two years).
In my opinion (inalb etc.) the only option open to OP before retirement is an informal arrangement with the present owners, based on mutual trust - this could include provision to inherit the property.

* It is the business which would buy any property, not the person.

AndyD 8-)₹

steveandpauline

have you got the message yet??? whatever course of action you take, you WILL incur lots of agro and NEVER be happy because you will constantly be in fear of having it all taken from you.
we bought a villa via a business, via a advocate, via the builder, via fema etc etc.....never got the deeds, every time we went there, it was trips to accountant, trips to builder cos of problems, and trips to advocate for advice. we even saw the diplomat at London's indian embassy for clarification. he said we shouldn't have bought it cos we will never own it. you do everything you are advised by law, and you still worry. it's no holiday!!!!
we bought it to retire to and ended up selling 5 years later. I'm sure this whole event was contributed to my stroke.
we now (or used to) just fly out there and stay in a bed and breakfast. a most enjoyable holiday ..........
they say if you are a yachtsman, there are 2 very distinct happy days..........
the day you buy your yacht is one.
the day you eventually sell it is another!
it is very definitely the same as owning a house in india.
DONT BOTHER

BEVS

Some of you may have noticed I have moved the latest post made by Dreadsoc to a thread of it's own

This is for two reasons.

1 - This is quite an old thread
2 - I felt the advice really deserved to be in it's own specific place .

Thanks

davidhendry

Puerto'
Advice straight from the fool's mouth.

DO NOT BUY IN GOA!!!!!!!!!!!!!!!!!!!!!!!!!!!

Davie.

steveandpauline

why the fools mouth? been there, bought the house, had a great time, made a huge profit when selling, and GOT the money back here. bought a flat here and the rent coming in pays for all the holidays out there with NO risk at all.
now compare that with all the talk on this sight about whether or not they own their property. some even losing it.
now whose the bloody fool?

Bipat

Pleased all went well for you. So why all the bad talk about India and Indian people I read in your previous posts on other threads?

Agree-- with above, so many have suffered from corruption and criminal activity and the law regarding their property buying, but then so many Indian people suffer from similar (if for different reasons) troubles regarding property, and they are stuck with moving in with relatives, and/or losing money.
Hope things are now improving for all.

a_f_d

that was a pretty thoughtless nasty post!

davidhendry

What's your game? You appear to me as a true halfwit.

Why did you interpret my post as referring to you?

I'm the fool!! Too complicated for you to understand?

Davie.

BEVS

OK people. All take a deep breathe in and out. I think something may have been lost in translation with the past few posts.

I can quite understand feelings running high with this issue but there is no need for the personal comments and jibes at all is there.

So. Just a reminder of the rules.

Thanks