Purchase of immovable property outside India by Resident & NRI Individuals
These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language
These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language
Can a resident continue to hold immovable property outside India which was acquired by him when he was a non-resident?
Answer: According to section 6(4) of the FEMA, a person resident in India can hold, own, transfer or invest in any immovable property situated outside India if such property was acquired, held or owned by him/her when he/she was resident outside India or inherited from a person resident outside India
Can a resident individual send remittances and purchase property outside India?
Answer: A resident individual can send remittances under the Liberalised Remittance Scheme (LRS) for purchasing immovable property outside India. In case members of a family pool their remittances to purchase a property, then the said property should be in the name of all the members who make the remittances.
To whom do the restrictions of transferring property outside India not apply?
Answer: The prohibition of a resident acquiring property outside India is not applicable if
How can immovable property be acquired outside India by a resident?
Answer: Immovable property can be acquired outside India:
https://taxguru.in/rbi/purchase-immovable-property-outside-india-resident-nri-individuals.html