Rules for Foreign Nationals of Non-Indian Origin
• Foreign Nationals are permitted to lease property in India for a period of up to 5 years without the need for any special permission from the Reserve Bank of India.
• Foreign companies who have been permitted to open an office in India are also allowed to acquire any immovable property in India, which is necessary for or incidental to carrying on such activity. This stipulation is not available to entities which are permitted to open liaison offices in India.
• Though RBI rules allow a foreign national who is a Resident of India (i.e. one who has completed more than 182 days stay in India in the previous financial year) to buy property, the rule also states that "... the person concerned would have to obtain the approvals, and fulfill the requirements if any, prescribed by other authorities, such as the concerned State Government". We DO NOT advise foreign nationals to attempt to purchase property in Goa via this route at the moment.
(Please refer the RBI Website for full details)

Once you decide to buy a particular property, the following typical process is recommended. Please however note that this process may differ slightly from Developer to Developer, depending on the property selected.

1. On receipt of your enquiry we will check back with the owners/developers to re-confirm availability of the property and revert to you.
   
2. Though the properties on our site are of reputed owners/developers, purely as a matter of "Due Diligence" we recommend that a legal scrutiny be done by a local Goa lawyer appointed by you. (Buy Goa Property provides complete assistance for this, making it hassle free for you. See RG Services). In cases where the project has already been legally checked and pre-approved by Banks, this step is optional.
   
3. Once the Lawyer completes the scrutiny (usually a period of 4-5 days) and gives his approval, you decide whether you/your representative wants to make a site visit/meet the owner/developer. If so, RG makes all the arrangements for this. (If you are not visiting personally but sending a representative, you need to give us a letter of authorisation for your representative)
   
4. Once you decide to purchase the property a Booking/Token Amount is to be paid by you to the Seller/Developer to confirm your intent to buy the property. An official receipt for the same is issued to you by the Seller/Developer confirming receipt of your payment and that the property has been reserved for you.
   
5. Buy Goa Property charge 0% commission (subject to clients purchasing property only ans no other services).
   
6. The next step is to sign the “Agreement of Sale” (for properties under construction). If a property is ready for possession, this is not required and one can directly sign the final "Sale Deed" against payment of the balance amount due for purchase of the property. Sale Deeds must be registered with the Registrars office.
   
7. At time of signing the “Agreement of Sale” most Developers require you to pay up the value of all installments that as per their Payment Schedule (linked to progress of construction) fell due for payment up to the current stage of completion of construction. Once signed, the “Agreement of Sale” should to be registered with the concerned authorities. Subsequent payments are to be made in installments as per the developer's payment schedule for the remaining part of the construction. The "Sale Deed" is signed once construction is completed and you can take possession of your property.
   
8. Stamp Duty & Registration charges for property in Goa is currently a total of 4%. Usually 50% of this is paid at time of the Agreement of Sale and the balance at the time of Sale Deed.
   
9. It is best to be personally present in Goa for signing the Agreement of Sale and Sale Deed and registration of these legal documents. However if this is just not possible, you may appoint a Power of Attorney to sign and register the documents on your behalf.