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Definition of an NRI


An Indian Citizen who stays abroad for employment/carrying on business or vacation 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. organizations and officials deputed abroad by Central/ State Government and Public Sector Undertakings on temporary assignments are also treated as non-resident) Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens.

For Investment in immovable properties:
A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri lanka or Nepal), is deemed to be of Indian origin if,

(i) he held an Indian passport at any time, OR
(ii) he or his father or paternal grand-father was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 ( 57 of 1955).
 
FAQs
1. Do non-resident Indian citizens require permission of Reserve Bank to acquire residential/ commercial properly in India?
 
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ADDITIONALS DETAILS
Acquisition and Transfer of Immovable Property in India by a person resident outside India

These FAQ's have been prepared in order to address various issues relating to acquisition and transfer of immovable property in India by a person resident outside India under the provisions of the Foreign Exchange Management Act, 1999. These FAQs seek to cover the broad spectrum of issues relating to acquisition and transfer of immovable property in India by a non-resident Indian (NRI) or a foreign national of Indian origin (PIO) or a foreign national of non-Indian origin as also by a person resident in India who is not a citizen of India.
 
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Regulations/Directions issued by Reserve Bank of India
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Acquisition of immovable property in India by way of purchase by a person resident outside India
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Acquisition of immovable property in India by way of gift by a person resident outside India
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Acquisition of immovable property in India by way of inheritance by a person resident outside India
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Transfer of immovable property in India by way of sale by a person resident outside India
 
Regulations/Directions issued by Reserve Bank of India
 
FAQs
 
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Acquisition of immovable property in India by way of purchase by a person resident outside India
 
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Acquisition of immovable property in India by way of gift by a person resident outside India
 
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Acquisition of immovable property in India by way of inheritance by a person resident outside India
 
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Transfer of immovable property in India by way of sale by a person resident outside India
 
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