Homeownership is often touted as a key part of the American Dream, but can an Indian purchase a property in the USA? This article will provide a comprehensive overview of the legal considerations and financial requirements for foreign nationals from India interested in purchasing property in the United States. Additionally, we will address the specifics concerning an Indian citizen’s ability to purchase property in the United States. It will explore relevant laws, regulations, and procedures that may need to be followed for such a transaction. Let’s learn about Can an Indian Buy Property in USA.
So, are you thinking about how to invest in property in the USA without carrying a green card, or citizenship of the country? Look no further; your answer is right here.
As a buyer, you do not need to carry a green card or be a citizen of the States to be able to invest in US real estate. Anyone securing an Individual Taxpayer Identification Number, an alternative to Social Security Number for foreigners, can invest their valuable money in real estate in the States. To obtain this number, you must apply to the Internal Revenue Service.
Under IRS Publication 515 for Non-Resident Alien (NRA), a foreigner with any country citizenship willing to buy a property in the USA can buy one. And if you are an Indian, below are the immigration categories that can get you a property in the country:
Investing in the USA real estate is one of the most fruitful investments for foreigners. Every year, investors, especially foreign investors, in this sector in the country have increased. According to the National Association of Realtors, the 2022 International Transactions in US Residential Real Estate figure showed that Indian investors are among the top foreign buyers in USA real estate, comprising 5% ($3.6B value).
But as an investor in this sector, do you have questions about financing that purchase? Well, here’s how you can do it:
While you can sit assured that your answer to the question of can an Indian buy property in the USA is positive, you must remember that investing in real estate as a foreigner in the United States comes with several taxes. You need to comply with them in order to save your money and time.
Here are some taxes you are subjected to when investing in USA real estate:
Here are some points to consider before investing in real estate:
It’s important to understand the law and follow the regulations imposed on foreigners who invest in the USA real estate. Keep tabs on the taxes and other necessary things required for carrying out transactions in the country’s real estate.