{"id":3798,"date":"2020-08-10T17:08:33","date_gmt":"2020-08-10T11:38:33","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=3798"},"modified":"2021-12-24T10:24:47","modified_gmt":"2021-12-24T04:54:47","slug":"nri-dealing-with-immovable-property-by-fema","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/nri-dealing-with-immovable-property-by-fema\/","title":{"rendered":"NRI Dealing with Immovable Property by FEMA"},"content":{"rendered":"

Acquisition and transfer of immovable property by the non- resident in India and Indian residents outside India are regulated by the Foreign Exchange Management<\/a> Act, 1999 (FEMA) read with Notifications released on January 31, 2016, and Notifications released on March 26, 2018, respectively. These regulations are amended from time to time through the published notifications.\u00a0<\/span><\/p>\n

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It also noted that Reserve Bank is authorized to issue directions to Authorised Persons whenever necessary through A.P circulars in regard to change in any regulations or the manner the relative transactions to be conducted with their customers and constituents. The Master Direction shall be amended simultaneously.<\/span><\/p>\n

The Foreign Exchange Management Act, 1999 authorized the RBI\u00a0 to frame rules and regulations to prohibit, restrict, or regulate the acquisition and transfer of immovable properties in India<\/a> by a person resident outside India. The regulations for acquisition and transfer of immovable property are specified in FEMA, 1999, or Notification dated March 26, 2018, as amended from time to time. In addition to this, it has to be noted that these restrictions do not apply to the acquisition and transfer of immovable property in India by a person resident outside India on a lease exceeding 5 years.<\/span><\/p>\n

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In this article, we will discuss about...<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n