Overseas immovable property acquisition requires permission unless inheritance, qualifying funds, permitted remittances, joint ownership, or business needs apply. A person resident in India requires general or special permission to acquire or transfer immovable property outside India, subject to specified ... Summary
Overseas immovable property acquisition requires permission unless inheritance, qualifying funds, permitted remittances, joint ownership, or business needs apply.
A person resident in India requires general or special permission to acquire or transfer immovable property outside India, subject to specified exceptions. Permitted acquisition includes inheritance, gift, qualifying purchases, RFC account funds, Liberalised Remittance Scheme remittances, joint acquisition with a non-resident relative, and income or sale proceeds from overseas assets other than ODI. Indian entities may acquire property for overseas office and staff purposes. Property lawfully acquired may be gifted, sold, or charged, but holding or transfer is barred if the initial investment was not permitted.
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