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of <h1>Non-residents need RBI approval to repatriate property sale proceeds; NRIs, PIOs can remit up to USD 1 million annually.</h1> A non-resident who acquired immovable property in India under Section 6(5) of FEMA or inherited it cannot repatriate the sale proceeds without RBI approval. NRIs, PIOs, and certain foreign citizens can repatriate up to USD 1 million per financial year under specific conditions. These include inheriting property from a resident or retiring from employment in India. The sale proceeds of non-agricultural property can be remitted if acquired according to foreign exchange laws, paid in foreign currency, and limited to two residential properties.
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