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Q: Can an NRI who is staying in abroad purchase property through the agent or power of attorney?
A: The non-resident Indians who are staying abroad may enter into an agreement through their relatives and/ or by executing the Power of Attorney in their favour as it is not possible for them to be...
Q: How can a Person of Indian origin who has migrated from India purchase a property?
A: Person of Indian origin who has migrated from India to any other foreign country can do the registration upon submitting the OCI (Overseas Citizenship Identity) Card Copy.
Q: What are the formalities to be completed by foreign nationals of Indian origin for purchasing residential immovable properties in India?
A: They are required to file a declaration in form IPI 7 with the central office of the Reserve Bank Of India within a period of 90 days from the date of purchase or final payment.
Q: What should be the method of payment for NRIs to purchase property in India?
A: NRIs/PIOs are only allowed to purchase properties by funds remitted/routed through normal banking channels or funds in NRE/FCNR accounts maintained with banks in India.
Q: Can an NRI buy property in India without an Indian citizenship?
A: Only individuals with Indian Citizenship are allowed to own property in India or they should at least own an OCI Card ( Overseas citizenship of India )
Q: How can NRIs do the sale/transfer of shares held by them with repatriation benefits?
A: In the case of shares /debentures /bonds acquired by NRIs through stock exchanges under the Portfolio Investment Scheme, general exemption has been granted for transfer through stock exchanges...
Q: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?
A: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or...
Q: Can OCI card holder purchase flat in India
A: OCI card holders can purchase residential and commercial properties in India. But they are not permitted to purchase agricultural land, including farmland or any kind of plantation property.
Q: Can gold jewelry be taken on the transfer of residence?
A: No, gold jewelry cannot be taken under transfer of residency, transfer of residence allows duty-free import of used household goods.
The only duty-free allowance that can be availed when it comes...
Q: Is OCI visa compulsory to buy property in India?
A: There is no such to rule to buy property in India.
Business and Finance
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Indians among over 100 people apprehended in US - Times of India
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