An Indian citizen who stays abroad for employment/ business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in UN organisations and officials deputed abroad by Central/State Governments and public sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin are treated on par with Non-Resident Indian citizens (NRIs) for the purpose of certain facilities.
Yes. Foreign nationals of Indian origin, whether resident in India or abroad, have been granted general permission to purchase immovable property in India. However, this general permission is only available for the purchase of immovable property in India for their bona fide residential purpose.
Yes. The Reserve Bank of India has granted general permission for the sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.
Yes. The Reserve Bank of India has granted general permission for sale of such property. However, when the property is purchased by another foreign citizen of Indian origin, the funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.
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 purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchasers' NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.
For booking related information call at 9540812345