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Latest Questions

Q: Are NRIs allowed to transfer their residential property by way of sale or gift?

A: Yes, as per provisions of the foreign exchange management act, RBI allows NRIs to sell or gift their property to an Indian resident.

Q: Can foreign citizen of Indian origin acquire commercial properties in India?

A: Yes. Under the general permission granted by Reserve Bank properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin provided the...

Q: What are the formalities required to be completed by foreign citizens of Indian origin for purchasing residential immovable property in India under the general permission?

A: They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Mumbai within a period of 90 days from the date of purchase of immovable property or final payment...

Q: Do foreign citizens of Indian origin require permission of RBI to buy immovable property in India for their residential use?

A: Yes. However, Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide...

Q: Can a foreign national of non-Indian origin acquire residential property on lease in India?

A: Yes. A Foreign National of non-Indian origin including a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan may acquire only residential accommodation...

Q: I have PIO card issued in 2011like apassport type prints. is it valid to travel to India?

A: *The government of India has notified that all existing PIO card holders shall be deemed to overseas citizens of Indian cardholder (merger of PIO to OCI) *Until applicants are in receipt of an OCI...

Q: Are any conditions required to be fulfilled if repatriation of sale proceeds is desired?

A: Applications for repatriation of sale proceeds are considered provided the sale takes place after three years from the date of final purchase deed or from the date of payment of final installment...

Q: Can foreign citizens of Indian origin acquire commercial properties in India?

A: Yes. Under the general permission granted by Reserve Bank properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin provided the...

Q: Do foreign citizens of Indian origin require permission of RBI to purchase immovable property in India for their residential use?

A: Yes. However, Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide...

Q: Can sale proceeds of property if and when sold be remitted out of India?

A: In respect of residential properties purchased on or after 26th May 1993, Reserve Bank considers applications for repatriation of sale proceeds up to the consideration amount remitted in foreign...