Acquisition of immovable property abroad by residents permitted via inheritance, gift, RFC funds, LRS remittances, or joint purchase.

A resident in India may acquire immovable property outside India by inheritance, gift, or purchase from a resident who acquired it under applicable foreign exchange rules; from a non-resident by inheritance, by purchase using RFC account funds, by purchase using remittances under the Liberalised Remittance Scheme (including consolidated remittances from compliant relatives), jointly with a relative resident abroad, or from income or sale proceeds of assets acquired overseas. An Indian entity with an overseas office may acquire property abroad for staff business and residential purposes per Reserve Bank directions.

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