Definition of 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. organisations 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.
Buying Property in India
NRI's holding Indian passport do not require prior permission of Reserve Bank of India to buy residential or commercial immovable property in India.The purchase consideration may be paid either by remittance of funds from abroad through normal banking channels or out of NRE / FCNR / NRO account.
NRI Accounts & Loads
As a non resident, there are number of options available at your disposal, when it comes for purchasing property or investing in Real Estate in India. This specially designed section will give you all the information you require on the subject.
Come Home to India !!!
Indian citizens and foreign nationals who are re-locating to India either on employment or otherwise, can transfer their personal effects and household goods free of any duty payment subject to the related specifications.
