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Does Reserve Bank determine the residential status of a person for the purpose of acquisition of immovable property in India?

April 26, 2017acquisition Bank determine immovable person Property purpose Reserve Residential Status

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Does Reserve Bank determine the residential status of a person for the purpose of acquisition of immovable property in India?

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No. Under FEMA residential status is determined by operation of law. The onus is on an individual to prove his/her residential status if questioned by any other authority.

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No. Under FEMA residential status is determined by operation of law. The onus is on an individual to prove his / her residential status if question by any other authority.