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NRI / PIO /OCI may sell agricultural land /plantation property/farm house to a person resident in India who is a citizen of India. Foreign national of non-Indian origin resident outside India would need prior approval of the Reserve Bank to…
Read moreNRI can sell property in India to a person resident in India; or a NRI; or a PIO/OCI PIO/OCI can sell property in India to a person resident in India; or a NRI; or a PIO/OCI – with the prior…
Read moreA person resident outside India (i.e. NRI or PIO/OCI or Fforeign national of non-Indian origin) can inherit immovable property from a person resident in India a person resident outside India However, the person from whom the property is inherited should…
Read moreYes, a person resident outside India i.e. i) a NRI ii) a PIO/OCI -and iii) a Foreign national of non-Indian origin can inherit and hold immovable property in India from a person who was resident in India.
Read moreYes, a NRI/PIO/ OCI can freely acquire immovable property by way of gift either from a person resident in India; or NRI; or a PIO/OCI However, the property can only be commercial or residential in nature. Agricultural land / plantation…
Read moreThere are no restrictions on the number of residential / commercial properties that can be purchased.
Read moreNo. A NRI-/ PIO/OCI who has purchased residential / commercial property under general permission, is not required to file any documents/reports with the Reserve Bank.
Read moreNo. A NRI/PIO/OCI cannot purchase a agricultural land in India. However, they are allowed to inherit a agricultural land which has to be sold as they cannot pass it to their next of kin.
Read moreUnder the general permission available, the following categories can purchase immovable property in India: Non-Resident Indian (NRI) Person of Indian Origin (PIO) Overseas Citizens of India ( OCI) The general permission, however, covers only purchase of residential and commercial property…
Read moreYou can invest by issuing a cheque against your NRO/NRE Accounts. If you invest from funds in your NRE/FCNR Accounts then you will be able to repatriate income on Mutual Fund earnings abroad.
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