Legal Question in Business Law in India

I want to rent out my office space to a Swedish national who is on business visa to India for starting a consultancy office. What is the formalities/procedures as a landlord I have to do while executing a lease agreement with the foreigner

Waiting for your expert opinion

Thanking you

With regards

Radhakrishnan Kartha


Asked on 9/20/13, 8:49 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

20.09.2013

Dear Sir / Madam,

Before entering into an Agreement for Leave and License (ALL) with a foreign national, you should :

1. Examine the validity of his / her visa documents that they are in Order;

2. Procure a copy of his / her Passport;

3. Obtain a Police Clearance Report from the local Police Station with the names and contact numbers of two known local references of the foreign national and;

4. If its a co-operative housing society, ensure that the Society permits shops to be let out to foreigners.

Regards,

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Answered on 9/20/13, 10:34 am
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

you need to verify all the documents before renting it out to him. It has to be in consonance with the RBI guidelines. you may retain a lawyer for this purpose.

Thanks and Regards

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Answered on 9/20/13, 10:56 am


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