NRI AS MEMBER OF SOCIETY/TRUST
This query is : Resolved
LAVINA CLETA D'SILVA
(Querist)
22 November 2021
CAN A NRI BECOME A MEMBER OF A SOCIETY WHICH HAS AGRICULTURAL LAND IN INDIA OR IS IT PROHIBITED AS PER FEMA REGULATIONS OR SOCIETY ACT ? DOES IT APPLY TO TRUST AS WELL?
B Sathyanarayanan
(Expert)
23 November 2021
yes ,NRI ,Pio can be a member of Society under FEMA 1999 and they can buy properties in India with complying to FEMA Regulations , and NRI become a member of Trust , but NRI being a trustee cannot do any financial transactions being a trustee
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