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Yes, you can buy a property in India if you are either PIO or NRI.
Foreign nationals of non-Indian origin resident in India (except AnyCitizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau or Hong Kong) can acquire immovable property in India through legitimate bank transfer by NRE/FCNR(B)/NRO account but not by travellers cheque or foreign currency. Foreign nationals of non-Indian origin resident outside India can only lease out a property however, it should not exceed five years. Any other type of acquisitions/ transfers requires the prior permission of RBI.
On the other hand, if you are a Person of India Origin (PIO) and Non Resident Indian (NRI), you can easily purchase any immovable property (other than agricultural land/ plantation property / farm house) in India. For this, you might need to refer to the master circular issued by RBI in compliance with the rules listed in FEMA act. Nevertheless, it is quite easy for a PIO or NRI to acquire property in India.
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Hey,
Purchasing a property in India is a dream of many no matter whether they are from India or not. That’s the reason why my father’s friend who is a British citizen is looking to buy a property in India. He asked us “can a British citizen buy property in India?”. We did not know much about it, so we reached out to my lawyer cousin. This is what he told us:
Can British Citizen Buy Property in India
If you are planning to buy a property in India, then you should read about 3 categories of ‘foreign’ buyers:- NRI (Non-Resident Indian)
- Foreign Nationals (without or with residency)
- OCI (Overseas Citizen of India). The former Person of Indian Origin (PoI) status has been merged with the OCI card scheme.
- NRO (Rupee Non-Repatriable)
- FCNR (Euro, Dollar, Yen, Pound, Aus Dollars, and Can dollars)
- NRE (Rupee Repatriable)
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Can I buy a property in India as a British citizen?
Parul Mishra
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4 Year
2020-11-13T13:00:17+00:00 2022-07-05T18:31:02+00:00Comment
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