Are you planning to buy a property in India?
Are you unable to go to India to do it as you are busy in your job?
Do not worry.
There is a very simple procedure to do this.
We have done this before.
We didn’t have to go to India to do this.
But, you need a trusted person there to do all this.
Whether it is a piece of land or commercial building, you can get this all done by making a simple document notarized and sending original to India.
You have to of course send money to them and believe them to do all this without any issues.
I am by no means a professional advisor in this regard.
I advise you to get professional help which you will anyway.
I am just sharing what we did.
We send money to India in online services like Xoom or Remit2India or Remitly or any such service.
We get couple of passport sized pictures at walmart.
Paste one and add one or two extra photos with the documents just in case they need in India.
We buy finger print pad in OfficeMax or similar office supply stores.
Go to AAA to get notarized as we have AAA membership. They just charge two dollars for each document. This may vary depending on your location.
Take copies of your passport and drivers license to prove your identity and your status here.
The documents required may vary depending on which state in India you are from.
Your representative from India who is buying property for you can find more details from officials there.
Then, mail the documents to the person who you chose via Fedex to buy and register the property for you.
Talk to your CPA for further formalities both before buying the property and at the time of filing your taxes.
When you want to sell the property, it will be easy to get money back if you filed some documents when you file taxes in USA.
If you want some information about how to sell the property and repatriate money back to USA, you can read the article here.
Below I will share what word document we used to get this accomplished.
This form is by no means official. I am just sharing what we used to give you an understanding of what the process looks like so that you can plan it well.
Email me if you have a better document or easier way to do this.
Download the form to be filled and notarized below:
The other time we bought a property, they just asked only the following document without even a notarization. Google “Section 32A Registration act 1908” and you can find this form online.
It all depends on what the guys who do this paperwork want. Just ask them and do what they ask for.