Can a NRI or PIO hold any commercial property in India acquired by way of inheritance from a person resident outside India?
With the specific approval of Reserve Bank a person resident outside India may hold any commercial property in India acquired by way of inheritance from a person resident outside India, provided the NRI/PIO had acquired such property in accordance with the provisions of foreign exchange law in force at the time of acquisition or under FEMA regulations
Related Questions
- Can a NRI who had acquired commercial property in India while he was a person resident in India continue to hold or transfer such property? In which account the sale proceeds may be credited?
- Can a person resident outside India hold any immovable property in India acquired by way of inheritance from a person resident in India?
- Can a NRI or PIO hold any commercial property in India acquired by way of inheritance from a person resident outside India?
