Laws governing purchase of property in USA by Indian citizen?



Hiiii, I am an Indian Citizen. I want to purchase an apartment at any good city in USA for my son’s accommodation. He is going to study in USA after two years. Can any one please tell me that any outside person, who is not a citizen of USA, can purchase the residential property in USA? If Yes, Please also tell what are the Laws in USA governing such purchase of property? Thanks……

Laws governing purchase of property in USA by Indian citizen?
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2 Replies to “Laws governing purchase of property in USA by Indian citizen?”

  1. Yes you can buy it.
    You will be paying cash.

    The real estate company will ask you to apply for an ITIN so that when you sell, you will have the number available for tax purposes.

    If the property goes up in value, you will owe capital gains.
    If the proerty goes down in value, you will not be able to claim a loss.

    In the meantime, you would also pay property tax, insurance, repairs and monthly fees for common areas.


  2. There are no restrictions on purchasing property in the US by non-US citizens or non-US residents. Substantial amounts of US property is owned by foreign nationals and foreign corporations.

    When you sell the property, the buyer will generally be required to deposit 30% of the purchase price with the IRS to ensure that you pay any capital gains tax on the property. You’ll then file a US return showing the actual gain and either pay any additional CG tax due or get a refund of any excess if the total tax is less than 30% of the selling price.





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