GOA - Buyer Beware!
#211
Re: GOA - Buyer Beware!
Hi Noni,
Sorry but if you remitt money to any bank any where in the world for property purchase they will accept it and assume that you are acting fully within the countries regulations. Its not the banks job to check you are acting to the letter of the law.....its yours!
A lot of people have bought in India illegally and done so ignoring both FEMA and RBI Law by trying to set up bogus companies etc etc etc.......
Now this is why the Indian government is tightening up on x visas and business visas and considering reducing a tourist visa to 3 months. They are also currently investigating FNs who have bought property to see wether the transactions are legal or not. Most are actually legal as most have not bought property as they thought BUT A 5 YEAR LEASE.....in laymans terms 'they have been ripped off'.
When the investigations are finally over people like yourself who already have freehold may or maynot be ok...I dont know.. but what i do know is that anyone else who now knows all this and chooses to ignore it and go ahead and buy property are in my opinion NUTS.
Regards and no offence intended,
Remy
Sorry but if you remitt money to any bank any where in the world for property purchase they will accept it and assume that you are acting fully within the countries regulations. Its not the banks job to check you are acting to the letter of the law.....its yours!
A lot of people have bought in India illegally and done so ignoring both FEMA and RBI Law by trying to set up bogus companies etc etc etc.......
Now this is why the Indian government is tightening up on x visas and business visas and considering reducing a tourist visa to 3 months. They are also currently investigating FNs who have bought property to see wether the transactions are legal or not. Most are actually legal as most have not bought property as they thought BUT A 5 YEAR LEASE.....in laymans terms 'they have been ripped off'.
When the investigations are finally over people like yourself who already have freehold may or maynot be ok...I dont know.. but what i do know is that anyone else who now knows all this and chooses to ignore it and go ahead and buy property are in my opinion NUTS.
Regards and no offence intended,
Remy
Should be interesting for us all.
#212
Re: GOA - Buyer Beware!
TDK and others like her think they have, but have not.
Have Tony P and Remy purchased. Why are properties still being sold to UK residents.
#213
Re: GOA - Buyer Beware!
Hi Cariad,
Yes, i purchased an apartment in Arpora, North Goa in 2005
but was fortunate enough to qualify for a PIO Card as my Father is Indian. I also have a few mates (FNs) who purchased back in 2005 as well and are now under investigation.
A lot of people purchased property under the Lease method with the view to registering the property in their own name once they completed the 182 day residency rule. Now the problem is that the Indian Government have moved the goalposts with regards to visas and the much sought after x visas are no longer being issued freely to FNs. Without the x visa they cannot complete the residency rule and therfore cannot obtain residency or title to their property.
You need to go through all the posts on Acron Homes and Buyer Beware to get more detailed info and I highly recommend you read all posts from Douglas M who has been in the front line trenches over this and has the battle scars to prove it.
Regards, oh and Welcome to the Forum,
Remy.
#214
Re: GOA - Buyer Beware!
Well as far as Douglas and we are concerned only time will tell. But anybody who has not handed over their money are Completely nuts not to listen to us. Anyway that is up to them. Interestingly enough I have just had a phone call from an english girl friend who has lived in Goa for the past five years, she has brought her Goan boyfriend over for a holiday, and they are coming to stay next week. She has just sold a beautiful house over there, and "bought" a small flat. (Both properties are in her name only) She just informed me that she is going to Birmingham before they fly back on the 4th July to get her x visa renewed!!!! Will let you all know how she gets on and what length visa she obtained.
Should be interesting for us all.
Should be interesting for us all.
#215
Re: GOA - Buyer Beware!
No we haven't bought, started looking into it 2 years ago, didn't want an off plan villa, we wanted an old house and to live in the community proper, set up a proper business and live and work in a better climate than England.
Started by doing a lot of homework, read everything, spoke to people and listened to their advice.
It soon became obvious that to get the right visas would be difficult and is getting increasingly more so. Our accountant said "It is a chicken and egg situation, you have to set up a company before you can invite yourself over on a business/employment visa" So no business visa no setting up a company, no company no business visa etc.
Douglas and others have helped to polarise our views and make sure that we don't put ourselves in a money losing position.
We have been offered 3 potential partnerships, but all they really want is investment and without a guarantee of a visa we aren't keen to get involved.
We do have a plan which is starting to come together and we should know in the next couple of months if it will work out. If it doesn't, we will look elsewhere.
Regards
Tony P
#216
Re: GOA - Buyer Beware!
If you read douglass and nonis previous posts all will be revealed.
Properties in goa are purportedly still being sold to FNs for a myriad of reasons, but essentially there is greed on both sides of the transaction.
Remy is a pio and can legitimately buy, and tony is considering renting.
regards
douglas
#217
Re: GOA - Buyer Beware!
Hi Douglas,
I agree there should have been more transparency.
I also think when the dust settles and the smoke clears that people like you and Noni who have Freehold will at worst be allowed to sell and recoup your initial investment.
But for those FNs that are purchasing now after knowing all this.......well what can you say?
Regards,
Remy
Thought id lost the first post,thats why i have repeated myself....sorry.
I agree there should have been more transparency.
I also think when the dust settles and the smoke clears that people like you and Noni who have Freehold will at worst be allowed to sell and recoup your initial investment.
But for those FNs that are purchasing now after knowing all this.......well what can you say?
Regards,
Remy
Thought id lost the first post,thats why i have repeated myself....sorry.
I agree, FNs who have legitimately registered a freehold will at some stage probably be allowed to sell.
That may even be the hidden agenda, to return the property back to indians, or those of indian decent.
The rest are cannon fodder.
regards
douglas
#218
Re: GOA - Buyer Beware!
Morning all!
Can anybody please say where they have read about a 3 month visa being banded about!. Should have kept quiet, but said something to himself last night about 3 month visa's - ALL I GOT WAS - THAT'S IT SELL IT. Told him it was not that easy - he is totally in denial and thinks "of course, you can sell somebody will buy it, and with profit" So he thinks. Thank God he does not read this site. :curse:
Going to leave him in complete denial. It's had enough trying to convert the newbies on this site.
#219
Re: GOA - Buyer Beware!
Morning all!
Can anybody please say where they have read about a 3 month visa being banded about!. Should have kept quiet, but said something to himself last night about 3 month visa's - ALL I GOT WAS - THAT'S IT SELL IT. Told him it was not that easy - he is totally in denial and thinks "of course, you can sell somebody will buy it, and with profit" So he thinks. Thank God he does not read this site. :curse:
Going to leave him in complete denial. It's had enough trying toconvert the newbies on this site.
According to the herald in about july 06 , the chief minister of goa rane requested central govt reduce the duration of a tourist visa from 6 to 3 months, this may have been political posturing.
Another report from a senior female minister in delhi last year announced the issuing of 5 year tourist visas but endorsed max 3 month stay. These proposed new visas were not to be made available to brits or other commonwealth citizens.
Anyone else with other info?
Send im indoors over to douglas for enlightening.
regards
douglas
#220
Re: GOA - Buyer Beware!
Hi Cariad7,
If you read douglass and nonis previous posts all will be revealed.
Properties in goa are purportedly still being sold to FNs for a myriad of reasons, but essentially there is greed on both sides of the transaction.
Remy is a pio and can legitimately buy, and tony is considering renting.
regards
douglas
If you read douglass and nonis previous posts all will be revealed.
Properties in goa are purportedly still being sold to FNs for a myriad of reasons, but essentially there is greed on both sides of the transaction.
Remy is a pio and can legitimately buy, and tony is considering renting.
regards
douglas
If the Government only gives 3 month visa's they are cutting their noses off to spite themselves. The locals rely on long term tourists, the long term tourists will go else where, who will rent their properties, buy their goods. The locals will not purchase from the higher priced supermarkets that are being built. The taxi drivers will loose out. The shack owners, in fact the whole community.
It is all very well for one guy I have read on a thread to say there are very rich indians that come to Goa - yes - they spend well for one week, and have locals looking after their property, but that is only a small piece of the economic pie. One very rich indian has a wonderful yachts - but iare they crewed by locals (or even their own country men) - I think not.
#221
Re: GOA - Buyer Beware!
Thanks all for your information. Have read with interest all your threads. Hope things turn out well for Douglas and Noni and others in their position.
If the Government only gives 3 month visa's they are cutting their noses off to spite themselves. The locals rely on long term tourists, the long term tourists will go else where, who will rent their properties, buy their goods. The locals will not purchase from the higher priced supermarkets that are being built. The taxi drivers will loose out. The shack owners, in fact the whole community.
It is all very well for one guy I have read on a thread to say there are very rich indians that come to Goa - yes - they spend well for one week, and have locals looking after their property, but that is only a small piece of the economic pie. One very rich indian has a wonderful yachts - but iare they crewed by locals (or even their own country men) - I think not.
If the Government only gives 3 month visa's they are cutting their noses off to spite themselves. The locals rely on long term tourists, the long term tourists will go else where, who will rent their properties, buy their goods. The locals will not purchase from the higher priced supermarkets that are being built. The taxi drivers will loose out. The shack owners, in fact the whole community.
It is all very well for one guy I have read on a thread to say there are very rich indians that come to Goa - yes - they spend well for one week, and have locals looking after their property, but that is only a small piece of the economic pie. One very rich indian has a wonderful yachts - but iare they crewed by locals (or even their own country men) - I think not.
A majority of tourists that visit Goa from all parts of the globe are just that.........tourists. They come to Goa for 2-3 weeks and stay in good hotels spend their worth and head back home happy.
If the 3 month visa thing does eventually come into force it will not make a big differance to the economy.
Most of us FNs and PIOs that buy property dont spend as much as those who stay in 5 star hotels and who want to see all of Goa at Holiday Rep prices. The regular longterm visitors know what to pay, where to eat and how to make their money sttrreeetttccchhh.
I have read that Goa is trying to loose its "Hippy Budget Destination" name tag and is trying to attract the Highflying Big Casino Spending Lashes of Money type tourists. If this is the case, i dont know about you but thats definately me out.
I hope they dont succeed in turning Goa into the new Mecca but i think were going to loose this one......eventually.
Regards,
Remy
#222
Re: GOA - Buyer Beware!
Thanks all for your information. Have read with interest all your threads. Hope things turn out well for Douglas and Noni and others in their position.
If the Government only gives 3 month visa's they are cutting their noses off to spite themselves. The locals rely on long term tourists, the long term tourists will go else where, who will rent their properties, buy their goods. The locals will not purchase from the higher priced supermarkets that are being built. The taxi drivers will loose out. The shack owners, in fact the whole community.
It is all very well for one guy I have read on a thread to say there are very rich indians that come to Goa - yes - they spend well for one week, and have locals looking after their property, but that is only a small piece of the economic pie. One very rich indian has a wonderful yachts - but iare they crewed by locals (or even their own country men) - I think not.
If the Government only gives 3 month visa's they are cutting their noses off to spite themselves. The locals rely on long term tourists, the long term tourists will go else where, who will rent their properties, buy their goods. The locals will not purchase from the higher priced supermarkets that are being built. The taxi drivers will loose out. The shack owners, in fact the whole community.
It is all very well for one guy I have read on a thread to say there are very rich indians that come to Goa - yes - they spend well for one week, and have locals looking after their property, but that is only a small piece of the economic pie. One very rich indian has a wonderful yachts - but iare they crewed by locals (or even their own country men) - I think not.
Hi Cariad7,
The majority of tourists that come to goa are indian nationals from other parts of india, FNs are maybe 20 or 30% of the volume and in one report i read the nos are falling. They may well spend more per head though. The hotel and package and tour operators dealing with FNs are often registered outside goa, so the gain to the state from FN tourism isnt as great as you may think.
Dropping tourist visa duration to 3 months would not have a major effect on the economy i dont think. May irritate a few long stayers though, but that is not the concern of the govt, national security and control of inflation are their concerns here. The govt will lose bits of revenue and do almost anything in the name of national security.
regards
douglas
#223
Re: GOA - Buyer Beware!
Hi Cariad7,
The majority of tourists that come to goa are indian nationals from other parts of india, FNs are maybe 20 or 30% of the volume and in one report i read the nos are falling. They may well spend more per head though. The hotel and package and tour operators dealing with FNs are often registered outside goa, so the gain to the state from FN tourism isnt as great as you may think.
Dropping tourist visa duration to 3 months would not have a major effect on the economy i dont think. May irritate a few long stayers though, but that is not the concern of the govt, national security and control of inflation are their concerns here. The govt will lose bits of revenue and do almost anything in the name of national security.
regards
douglas
The majority of tourists that come to goa are indian nationals from other parts of india, FNs are maybe 20 or 30% of the volume and in one report i read the nos are falling. They may well spend more per head though. The hotel and package and tour operators dealing with FNs are often registered outside goa, so the gain to the state from FN tourism isnt as great as you may think.
Dropping tourist visa duration to 3 months would not have a major effect on the economy i dont think. May irritate a few long stayers though, but that is not the concern of the govt, national security and control of inflation are their concerns here. The govt will lose bits of revenue and do almost anything in the name of national security.
regards
douglas
Out of approx 2,500,000 tourists only 450-500,000 are from outside India, I too have read that numbers are falling but as the Goan Government doesn't produce tourist figures in the same way as say Kerala it is difficult to tell.
I believe they are making a very unpleasant bed for themselves, they have now got the National Government involved, who are starting a crackdown (Please don't laugh I'm serious) on corruption, patronage and bribery. When you have had your fingers in the till you don't go to the Police and say the locks have been changed and you want something done about it.
I can understand in part the Goan attitude, they only shrugged off the Portugese 40 years ago and truly believed that they were Independent and then along comes Mr Money, greed sets in, so they think why work in the fields when we can take the money and move to the big city which is paved with gold. It happened in the UK and all over the world. Now they are starting to say 'What about our heritage, what about our young people who cannot buy a house, the prices are too high. The Government must do something.'
We all know why prices are so high, GREED and it is their own, they set the price for the family silver, sold it and moved to a 'better' life, so I partly agree with Douglas, they do want their land back and getting rid of FNs is the way they believe it can happen.
What they are missing is that there are plenty of affluent out of state Indians, NRIs and PIOs who are buying property and they can't get rid of them and according to conversations I have had with locals, Goans hate OSIs, a lot of hotels close rather than take their bookings or won't take their bookings once they find out that they are OSIs.
What the Goan Government is missing and seriously missing is the opportunity they have to bring in hard currency, a lot of hard currency and with a small tweak to their planning laws get a lot of the infrastructure built at no cost to themselves or their voters. They have a very narrow view, blinkered by votes and money.
There, that's my opinion
TP
#224
Re: GOA - Buyer Beware!
Hi All
Out of approx 2,500,000 tourists only 450-500,000 are from outside India, I too have read that numbers are falling but as the Goan Government doesn't produce tourist figures in the same way as say Kerala it is difficult to tell.
I believe they are making a very unpleasant bed for themselves, they have now got the National Government involved, who are starting a crackdown (Please don't laugh I'm serious) on corruption, patronage and bribery. When you have had your fingers in the till you don't go to the Police and say the locks have been changed and you want something done about it.
I can understand in part the Goan attitude, they only shrugged off the Portugese 40 years ago and truly believed that they were Independent and then along comes Mr Money, greed sets in, so they think why work in the fields when we can take the money and move to the big city which is paved with gold. It happened in the UK and all over the world. Now they are starting to say 'What about our heritage, what about our young people who cannot buy a house, the prices are too high. The Government must do something.'
We all know why prices are so high, GREED and it is their own, they set the price for the family silver, sold it and moved to a 'better' life, so I partly agree with Douglas, they do want their land back and getting rid of FNs is the way they believe it can happen.
What they are missing is that there are plenty of affluent out of state Indians, NRIs and PIOs who are buying property and they can't get rid of them and according to conversations I have had with locals, Goans hate OSIs, a lot of hotels close rather than take their bookings or won't take their bookings once they find out that they are OSIs.
What the Goan Government is missing and seriously missing is the opportunity they have to bring in hard currency, a lot of hard currency and with a small tweak to their planning laws get a lot of the infrastructure built at no cost to themselves or their voters. They have a very narrow view, blinkered by votes and money.
There, that's my opinion
TP
Out of approx 2,500,000 tourists only 450-500,000 are from outside India, I too have read that numbers are falling but as the Goan Government doesn't produce tourist figures in the same way as say Kerala it is difficult to tell.
I believe they are making a very unpleasant bed for themselves, they have now got the National Government involved, who are starting a crackdown (Please don't laugh I'm serious) on corruption, patronage and bribery. When you have had your fingers in the till you don't go to the Police and say the locks have been changed and you want something done about it.
I can understand in part the Goan attitude, they only shrugged off the Portugese 40 years ago and truly believed that they were Independent and then along comes Mr Money, greed sets in, so they think why work in the fields when we can take the money and move to the big city which is paved with gold. It happened in the UK and all over the world. Now they are starting to say 'What about our heritage, what about our young people who cannot buy a house, the prices are too high. The Government must do something.'
We all know why prices are so high, GREED and it is their own, they set the price for the family silver, sold it and moved to a 'better' life, so I partly agree with Douglas, they do want their land back and getting rid of FNs is the way they believe it can happen.
What they are missing is that there are plenty of affluent out of state Indians, NRIs and PIOs who are buying property and they can't get rid of them and according to conversations I have had with locals, Goans hate OSIs, a lot of hotels close rather than take their bookings or won't take their bookings once they find out that they are OSIs.
What the Goan Government is missing and seriously missing is the opportunity they have to bring in hard currency, a lot of hard currency and with a small tweak to their planning laws get a lot of the infrastructure built at no cost to themselves or their voters. They have a very narrow view, blinkered by votes and money.
There, that's my opinion
TP
#225
Re: GOA - Buyer Beware!
Totally agree with you, we know many Local Resturnants etc. who close when the OSI's decend on Goa. Have been in resturants when some of the Monied Mumbai and Deli lot come for a holiday with their girlfriends, they show off and are totally rude to the waiters. We have seen this on many occassion.
Yeah its a bit like the 'Brits Abroad' Ibiza culture.
Lager Louts and Hooligans, I guess every culture has them.
Regards,
Remy