NRI investment regulations
The Foreign Exchange Management Act (Fema) rules welcome investment in property in India by NRIs (non-resident Indians), PIO (person of Indian origin), and in some cases, foreign nationals residing in India.
“NRIs or PIOs are allowed to repatriate an amount up to one million dollars, per financial year (April-March), out of the balances held in the Non-Resident (Ordinary) Rupee (NRO) account, subject to compliance with applicable tax requirements. This amount includes sale proceeds of assets acquired by way of inheritance or settlement.”
A person resident outside India is categorized as non-resident Indian (NRI) or a foreign national of Indian origin (PIO) or a foreign national of non-Indian origin. Section 2 (v) and Section 2 (w) of Fema, 1999, defines ‘person resident in India’ and a ‘person resident outside India’, respectively.
“NRIs or PIOs are allowed to repatriate an amount up to one million dollars, per financial year (April-March), out of the balances held in the Non-Resident (Ordinary) Rupee (NRO) account, subject to compliance with applicable tax requirements. This amount includes sale proceeds of assets acquired by way of inheritance or settlement.”
A person resident outside India is categorized as non-resident Indian (NRI) or a foreign national of Indian origin (PIO) or a foreign national of non-Indian origin. Section 2 (v) and Section 2 (w) of Fema, 1999, defines ‘person resident in India’ and a ‘person resident outside India’, respectively.
Keeping guidelines in mind, any NRI can now invest in NCR & Can easily avail Currency Exchange in Noida while investing.
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