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        FEMA

        Rule 29 - Repatriation of Sale Proceeds

        Foreign Exchange Management (Non-debt Instruments) Rules, 2019
        Chapter IX
        ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA

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        Repatriation of sale proceeds: limits and conditions for NRIs/OCIs on immovable property transfers and enforcement sales. Repatriation of sale proceeds is prohibited without Reserve Bank permission; authorised dealers may allow repatriation by NRIs or OCIs only if the property was acquired under applicable foreign exchange laws, the purchase was paid through permitted foreign exchange channels or specified non-resident accounts, and repatriation from residential properties is restricted to proceeds from no more than two properties. For enforcement of external commercial borrowings secured by immovable property, authorised dealer banks may permit sale to a person resident in India and repatriation of proceeds only towards that specific loan's outstanding dues.
                          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.

                                Repatriation of sale proceeds: limits and conditions for NRIs/OCIs on immovable property transfers and enforcement sales.

                                Repatriation of sale proceeds is prohibited without Reserve Bank permission; authorised dealers may allow repatriation by NRIs or OCIs only if the property was acquired under applicable foreign exchange laws, the purchase was paid through permitted foreign exchange channels or specified non-resident accounts, and repatriation from residential properties is restricted to proceeds from no more than two properties. For enforcement of external commercial borrowings secured by immovable property, authorised dealer banks may permit sale to a person resident in India and repatriation of proceeds only towards that specific loan's outstanding dues.


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