Can I Buy Land in Other Countries?

Hello there, I came across your query regarding whether can I buy land in other countries as an Indian. I can say that yes, you can. 

However, there are some rules added to the purchasing process of an immovable property abroad. Let me share them with you.

How to Buy Land in Other Countries?

The RBI has set some ground rules for acquiring immovable property outside India. These are,

1. An Indian resident can acquire immovable property outside of the country by way of inheritance, gift or purchase from a person who is also an Indian resident and has acquired the property according to the foreign exchange provisions.

2. The property can be purchased through foreign exchange held in an RFC account. 

3. Another way is purchasing out of remittances sent under the Liberalised Remittance Scheme (LRS) instituted by the RBI.

4. The property can be purchased if it is jointly owned with a relative who is a person resident outside India.

5. Purchase is possible through the income of sale proceeds of the assets, other than ODI, acquired overseas under the provisions of the Act. 

6. If an Indian entity has an overseas office and wants to purchase the property for business and residential purposes of its staff, the purchase will be valid. This must be done according to the directions of the RBI from time to time.

This is all I have to share. I hope this answers can you buy land in other countries.