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Q: Is OCI Visa compulsory to own property in India?
A: NRIs living abroad and having property in India can continue to hold their property in India even if they are not OCI Visa holders.
Any person of Indian origin generally can buy and hold property...
Q: Can OCI holders buy land to start a business in India?
A: Generally all OCI card holders can purchase immovable property in India and start a business, however there are some exceptions such as a restriction to purchase agricultural land.
Q: Can OCI card holder buy residential property in India?
A: Yes, as an OCI holder she can buy residential or commercial property in India.
Q: Do OCI require PAN number for buying and renting property in India?
A: Yes! a PAN number is required to purchase property in India. While it may be possible in some cases to get exemption from providing PAN by filling FORM 60 Having a PAN certainly makes things...
Q: Can OCI card holder buy property in India?
A: Overseas citizens of India (OCI) can purchase property in India except agricultural land.
Q: Can OCI buy land to build house in India?
A: Yes, as an OCI holder you can purchase land and build a house in India. A word of caution though, buying land in India not easy. Even local Indian citizens find themselves cheated and often...
Q: Can NRI purchase property in India without OCI/PIO?
A: Nri's do not need to have OCI or PIO visa to purchase property in India. All NRIs can freely purchase residential or commercial property in India. Purchase of agricultural land or farm houses...
Q: Can an OCI card holder invest in flat in India with the sole purpose of reselling after 5-6 years and reconverting the amount back in US dollars?
A: As a OCI holder you can purchase a flat in India. Once the property is sold, you can reconvert the money into US dollars and bring it back to the United States. However you can only bring back the...
Q: Can a OCI cardholder buy flat in India and resale after a 5-6 years and convert the amount back in US dollars, and is there a limit the amount of rupees i can convert in dollars?
Q: What are the legal issues associated with an NRI/PIO buying business property in India?
A: If you mean commercial property/premises, then there are not legal issues. It is the same process as buying any residential property in India. The NRI/PIO buyer needs to pay money to the seller in...
Business and Finance
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