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        FEMA

        Regulation 5 - Acquisition and Transfer of Immovable Property outside India

        Foreign Exchange Management (Acquisition and transfer of immovable property outside India) Regulations, 2015
        Chapter 01

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        Acquisition of immovable property abroad: residents may acquire by gift, inheritance, RFC funds or permitted joint ownership. Regulation 5 permits residents in India to acquire immovable property abroad by gift or inheritance from specified persons, or by purchase using funds in a Resident Foreign Currency account; joint acquisition with a nonresident relative is allowed provided no funds flow out of India. It also allows inheritance or gift from a resident who lawfully acquired the property, authorises Indian companies to acquire property overseas for business and staff residence subject to regulator directions, and defines 'relative' to include spouse, siblings and lineal ascendants or descendants.
                      Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Acquisition of immovable property abroad: residents may acquire by gift, inheritance, RFC funds or permitted joint ownership.

                            Regulation 5 permits residents in India to acquire immovable property abroad by gift or inheritance from specified persons, or by purchase using funds in a Resident Foreign Currency account; joint acquisition with a nonresident relative is allowed provided no funds flow out of India. It also allows inheritance or gift from a resident who lawfully acquired the property, authorises Indian companies to acquire property overseas for business and staff residence subject to regulator directions, and defines "relative" to include spouse, siblings and lineal ascendants or descendants.


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