Foreign Investment in Property
This query is : Open
Quick Summary
MAKARAND DAMLE
(Querist)
30 May 2022
My client has made investment in Dubai property
25% down payment and rest 75% to be paid in 6 years
This means liability in respect of foreign investment
Whether this arrangement is allowed under FEMA
25% down payment and rest 75% to be paid in 6 years
This means liability in respect of foreign investment
Whether this arrangement is allowed under FEMA
CA R SEETHARAMAN
(Expert)
30 May 2022
Yes it's allowed.
An Indian citizen can utilise the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India to invest in property abroad. The LRS permits free remittance of up to $250,000 per individual per financial year
An Indian citizen can utilise the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India to invest in property abroad. The LRS permits free remittance of up to $250,000 per individual per financial year
MAKARAND DAMLE
(Querist)
30 May 2022
Means liability can be created and property can be purchased on mortgage or payment scheme ?
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