foreign company which has established a Branch office or Project office in
India can acquire any immovable property in India, which is necessary for or
incidental to carrying on such activity, subject to certain conditions. A
declaration is required to be submitted to RBI, in the prescribed Form.
if the foreign company has established a liaison office in India, it cannot
acquire immovable property. They can acquire property by way of a lease not
exceeding 5 years.
Further, acquisition of immovable property by entities incorporated in
Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, HongKong
and Macau and who have set up Branch
Offices in India would require prior approval of RBI.