Foreign investor immovable property acquisition allowed for established business, subject to compliance and declaration filing, and mortgage security permitted. A person resident outside India who has established in India a branch, office or other place of business (excluding a liaison office) for carrying on a permitted activity may acquire immovable property in India necessary for or incidental to that activity, provided all applicable laws are complied with and a declaration in form IPI is filed with the Reserve Bank within ninety days of acquisition; such property may be mortgaged to an authorised dealer as security for any borrowing.