NRI Investment Guide.
Everything you need to know about seamlessly investing in the spiritual capital of India from overseas, fully compliant with FEMA and RBI guidelines.
Yes, an NRI can purchase any immovable property in India such as investing in real estate property. As real estate transactions fall under the purview of the Foreign Exchange Management Act (FEMA), a Non-Residential Indian or individual who is of Indian origin can acquire possession other than cultivation land or a manor house that is either gifted or inherited by the NRI.
Funding must be routed through standard banking channels. NRIs can make payments via inward remittance from abroad, or use funds held in their Non-Resident External (NRE), Non-Resident Ordinary (NRO), or Foreign Currency Non-Resident (FCNR) bank accounts in India.
Absolutely. The Reserve Bank of India (RBI) allows banks and housing finance companies to offer home loans to NRIs for purchasing residential properties. You can typically get up to 80% of the property value funded, provided you meet the bank's income criteria.
Repatriation is permitted. If the property was acquired using foreign exchange remitted from abroad or an NRE/FCNR account, you can repatriate the sale proceeds. The RBI allows repatriation of up to USD 1 million per financial year from an NRO account, subject to tax clearances.
A Person of Indian Origin (PIO) is an individual holding a foreign passport (except Pakistan, Bangladesh, Sri Lanka, etc.) who previously held an Indian passport, or whose parents/grandparents were citizens of India. Under FEMA, PIOs enjoy parity with NRIs in respect to purchasing residential and commercial real estate.
Key documents include: A valid Passport and Visa, proof of employment/contract abroad, latest salary slips, last 6 months' bank statements (both international and NRE/NRO accounts), and a registered Power of Attorney (POA) if the applicant is not physically present in India.
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