Who is a non-resident Indian (NRI)?
An Indian Citizen who stays abroad for employment / carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organisation and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non- residents). Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs). Purchase of Immovable Property in India by Foreign Citizens of Non-Indian origin/Foreign Companies Foreign citizens of Non-Indian origin (whether resident in India or not) and foreign companies including trusts, societies and associations incorporated/ registered abroad will be permitted by Reserve Bank, on application, to acquire immovable property in India, provided the following conditions are satisfied. The property to be purchased is for residential use only. The consideratio
Related Questions
- NRI FAQ’s: Do non-resident Indian nationals require permission of Reserve Bank to acquire residential / commercial property in India?
- What is Indias policy on investment by Non-Resident Indians (NRI) or Person of Indian Origin (PIO)?
- What is Indias policy on investment by Non-Resident Indians (NRI) or Person of Indian Origin (PIO)?
