Is acquiring property abroad allowed by the Indian Government?
Yes, The Reserve Bank of India (RBI), the country’s central bank, allows resident Indians to remit up to $25,000 every year for a range of ‘permissible capital or current account transactions or a combination of both’ (including acquisition of immoveable properties abroad). An individual can acquire and hold immoveable property outside India without the prior approval of the RBI. For any amount over and above the maximum cap, the investor has to take special permission from RBI before investing. So, Investments from UKLI is a wise choice.
