Can a NRI
Buy property without coming to India or a person
can buy a property without physical presence?
Yes both are possible.
Does NRI/PIO/OCI require permission of The
acquire residential/ commercial property in India?
No Permission is required by anyone.
What are the
property a NRI/PIO/OCI can buy in India?
NRI/OCI/PIO can buy any residential or
in India; however they cannot buy agriculture land in India.
Are there any
restrictions on numbers of properties that can be bought and sold by
There are no restrictions in terms of
that can be bought by NRI/PIO/OCI; however they can sell only two
How are the
made by the NRI/PIO/OCI?
It is mandatory for NRI/PIO/OCI to make
the below options for buying Property in India:
• NRE Account: Known as Non Residential External account, these are
accounts for NRI’s.
• NRO Account: Known as Non Residential Ordinary account
• FCNR Account: Known as Foreign Currency National Rupee Account.
fixed deposit account and one can maintain account in a choice of 6
GBP, EUR, JPY, CAD and AUD.
• Wire Transfer: - it means transfer of payment directly from the
the desired Indian bank account. In this case a wire transfer remittance
issued by the foreign bank confirming the amount transferred in Indian
or dispose residential property by way of gift?
Yes, NRI/ PIO/OCI can freely acquire
India by way of gift either from Resident Indian or NRI/ PIO/OCI and
gift residential/commercial property to Resident Indian, NRI/ PIO and
approval of RBI
property without permission of RBI?
In case of
repatriation is there any tax liability to the Indian
Yes, during repatriation Capital Gain Tax
Term) as applicable will be attracted. The charges for the same are
the capital gain tax definition.