Fema
This query is : Resolved
ARUN KUMAR MAITRA
(Querist)
10 August 2012
Can a resident Indian purchase a house-property abroad?
10 August 2012
An Indian resident can buy a house overseas under the liberalised remittance scheme by making remittance of upto USD 200,000 per financial year.
FEMA also permits a person resident in India to acquire a house property outside India by way of gift or inheritance from a person resident outside India.
In addition, a person resident in India may hold an immovable property outside India acquired when the person was not resident in India (when he may have been working outside India).
FEMA also permits a person resident in India to acquire a house property outside India by way of gift or inheritance from a person resident outside India.
In addition, a person resident in India may hold an immovable property outside India acquired when the person was not resident in India (when he may have been working outside India).
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