Originally Posted by TDK (Post 5116942)

Hi All, don't worry i haven't left you all for a younger web site:eek: & despite the sunshine i've not been up to anything very interesting (except maybe for those with a housework fetish):ohmy:

Anyway i have joined the F******N's forum for buying a Yurt in Ulan Batur, Mongolia:blink: I figured that atleast if the Mongolian bureacracy backfires on me, then i can just pack up my home and move it somewhere else, and there also the added advantage of changing scenery (although communal swimming pools hard to come by out there), but atleast can go horse/camel riding. The fermented ewes milk might be an aquired taste though:thumbdown:;)
Anyway have a nice day!

Originally Posted by KKK (Post 5118856)

Hi TDK

this Ulan Bator project has got me all excited.:rofl::rofl: I think I'll also join yo there, could you please send me the address of Mangolian acron:confused::thumbsup::thumbsup:

regards

KKK

Originally Posted by Douglas M (Post 4537351)

Hi, we are Brits who until recently lived in Goa.

My wife and I have been reading your posts on various subjects with interest, particularly those appertaining to buying property in Goa. We are concerned that many people are buying off plan without making the provisional checks and just taking the word of the sales people and advisers involved. Good salesmen simply tell you what you want to hear.

Please don't get too carried away with choosing the furnishings and colour of the tiles in the bathroom before you have done your homework.

It is difficult (at the moment nigh impossible) to fulfill the requirements for residency / company formation / visa acquisition etc. without the additional hurdles that are involved in buying off plan. The first set of issues are dealt with on IndiaMike.com forums foreign owned property in goa and foreign owned property in goa part two.

For those who are also attempting to buy off plan please go to www.amchegoa.com , then go to real estate / goa / FAQ

Even if you manage to wade through and comprehend all of this stuff, remember this is India and the rules will invariably change depending on the day of the week, the position of the moon and person you are talking to.

Originally Posted by Remy-Ireland (Post 5128386)

Hi All,

After e-mailing the HCI for some time they have now posted the following.

http://hcilondon.net/hciserv/PressRe...ils&PRcode=118

Let this be a warning to all.........from the horses mouth.

There seems to be a problem with internal server so go to
http://www.hcilondon.net/
and click on the very top link regarding property.

Hopefully this will put all the doubters comments to rest.

Regards,
Remy

Originally Posted by TDK (Post 5128533)

Thanks for the link Remy, and its about time the HCI posted an offical statement on their site, and as you say hopefully it'll put all the doubters comments to rest.
Regards TDK

Originally Posted by a_f_d (Post 5129636)

my comments posted here

AndyD 8-)#

Originally Posted by a_f_d (Post 5129733)

Remy-Ireland said:

No, it doesn't say or imply anything about types of visa - either way.


It's important but it isn't new (it has, I suspect, been part of some people's misapprehensions however).

Well I'm not denying that I was caught by the August '06 reality change (too late, too late the <del> maiden </del> gentleman cried!), I may well still be refusing to accept that common sense and the laws of India won't prevail in the medium term, and that in the meantime those who are caught might as well relax and enjoy life - Cheers (_)? (_)? (_)?.

AndyD 8-)#

Originally Posted by Remy-Ireland (Post 5129808)

Hi Andy,

I guess differant people will view the press release in differant ways.
But on the whole we have on this site.......

One member who obtained residency, registered property and was still excluded from Goa.

We have people that once held 5 year x visas, only being able to get them renewed with a much lesser two year one or even worse a 6 month tourist visa.

We have the Registrar closed in Goa to FNs.

We have various people getting investigated for 'illegal' property purchase....

We have RBI and FEMA saying FNs cannont purchase property in Goa........and the residency thing dosent even come into anymore as this can no longer be obtained.

And now we have this latest statement from the High Commission of India saying basically PIOs and OCIs only.

Now under the current climate do you think property purchase by FNs in Goa is still a good idea?
Would you recommend 'Property Purchase in Goa' to other FNs out there reading this site?

I know it is a dream of many....to have a home in Goa....its mine too......but under the current situation i cannot recommend it at this time and certainly would not even attempt to.

Regards,
Remy

Originally Posted by a_f_d (Post 5129942)

Remy,
as I have said before (either here or elsewhere) I would not recommend anyone to start buying at the moment, but if you are already committed I still say to hang on in there.
I have only heard of one person being excluded, and afaik so far no-one who has been investigated has been penalised. If some eventually are (and I have never been sanguine about the use of 'empty' companies) then I think it unlikely that the penalties will be as severe as outright confiscation - which would be legally dubious under FEMA).
I think that many people were under the impression that an 'X' visa was a sort of settlement visa, and they have been disappointed, but they can still live in Goa for several months at a time and I think this will meet many people's requirements.
I also think that developers have been unfairly stigmatised, the 'sea change' caught them as well, and I think most of them intend to honour their Agreements of Sale and/ or rolling leases or whatever mechanisms they put in place for purchasers who are unable to fulfill residency requirements "yet".
btw it is still possible to acquire resident status - what good it will do remains to be seen.

AndyD 8-)#

Originally Posted by John Chappell (Post 5132193)

Hi All,

Having read the latest HCI Bulletin, my opinion, for what it is worth is that NOTHING has changed. The Bulletin is just that, it is for general information only, it has not changed the current laws and is also factually incorrect as Douglas pointed out in his post yesterday. In short, it is in conflict with laws currently on the Indian Statute, ie FEMA and the RBI Rules and should be read in conjunction with those documents.

More to the point, it should be interpreted as a warning to anyone thinking of investing in Indian property and wishing to RETIRE in India, THAT, I believe is the point the HCI is wanting to get across. I don't believe there is an across the board objection within India to FN's legally purchasing property and spending time in it, I believe the real objection is of FN's RETIRING in India.

Again this is purely my personal interpretation of the situation having experience of living and working in India for many years.

Regards to all

John

Originally Posted by Bryson7 (Post 5132642)

Hi John,
I totally agree with you, the only thing that has really changed since August 06 is the issuing of visas whilst the government investigation is going on.
Douglas has done an excellent service in highlighting the rules for would be property buyers / leasees so clearly. At least everyone should now know if what they have done in the past was in fact legal.
The one point that has really worried me over these past few months is the clause about " having good reason for being in India" sorry, or words to that effect. Think that could be a big problem.
Regards
Bryson

Originally Posted by Bryson7 (Post 5132642)

Hi John,
I totally agree with you, the only thing that has really changed since August 06 is the issuing of visas whilst the government investigation is going on.
Douglas has done an excellent service in highlighting the rules for would be property buyers / leasees so clearly. At least everyone should now know if what they have done in the past was in fact legal.
The one point that has really worried me over these past few months is the clause about " having good reason for being in India" sorry, or words to that effect. Think that could be a big problem.
Regards
Bryson

Originally Posted by Douglas M (Post 5132774)

Hi Bryson7,

The restriction on visa issue is significant, but it is only one step in addressing the wider problem of FEMA violation by FNs ( violations that were aided and abetted by HCI london in issuing x visas in the past)

You are getting there in your last para, most FNs think that qualifying for residency is simply being physically present in india for 183 days or more in the previous tax year. As important and far more hazardous to the FN is the requirement to prove intention to stay for an undetermined period of time and suitable purpose.

FN registrees will not know if their property has ben legally purchased or not untill after the ongoing d of e enquiry. The case officer concerned will decide the legality of the purchase or not on the basis of the evidence presented by the FN. Even then, any authority can revisit the case and ask the FN to prove things like residency.

My prediction is that best way d of e will penalise 10% of existing FN registrees and worst way 90% depending on how stringently they apply the residency test and how powerfully they wish to get their message across. The wannabees are toast.

regards
douglas