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Q: What is the procedure to hold property acquired before moving abroad?
A: You can continue to hold property you acquired in India before becoming an NRI. When you sell your flat you may be able to transfer money from the sale proceeds depending on how long you held the...
Q: Can OCI holders acquire agricultural land from family members as gift.?
A: 1. Your sister/mom can't give you agricultural land in India as a gift nor can they sell it to you as OCI holders cannot acquire agricultural land by way of gift. Hence it can't be transferred to...
Q: Can NRI inherit agricultural land in India?
A: Generally, One can will property they own form their own earnings to whoever they please. On the other hand if the property in question was acquired by inheritance; for example your father got the...
Q: Can NRI inherit property if he or she dint get OCI or dual Indian citizenship?
A: You need not worry about getting OCI specifically for the purpose of inheriting property. Anyone, regardless of their citizenship status or place of residence can inherit property.
Q: Can an nri hold land (non agricultural) purchased from Indian earnings and can i inherit property from my parents in India?
A: Even though you have become nri, you are still a Person of India Origin (PIO). Being a PIO, you have the privilage of acquiring and disposing properties in India, including inherited properties.
Q: I am currently an Indian citizen applying for OCI. I have recently inherited land from my grandfather, will I lose it after changing status?
A: No, you will not lose the inherited land by changing your status.
Q: Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?
A: Yes, Property acquired can be gifted to other individuals who are residents of India, or are PIOs residing outside of India. Agricultural land, farm houses and plantation properties can also be...
Q: Is there a limit to the number of investment in acquiring commercial properties in India?
A: No, there is no such limit to acquire commercial properties in India
Q: Can a foreigner of non Indian origin acquire by way of purchase or gift, immovable property in India?
A: No, a foreigner of non-Indian origin cannot acquire immovable property in India by any ways. But, if the foreign national is a person resident in India as per of Section 2(v) of FEMA 1999, than...
Q: If an NRI wishes to acquire immovable property in India by way of lease for a period not exceeding 5 years, what is the procedure ?
A: There is no difference in the procedure. It's the same as any other Indian citizen would buy the property.
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Indian American Manisha Singh sworn in as Assistant Secretary of State
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