REAL ESTATE & OTHER INFORMATION FOR NRI's
REAL ESTATE AND OTHERS
Can NRI's invest in immovable properties in India?
Are NRI's permitted to bring precious metals like gold & silver into India?
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Can NRI's invest in immovable properties in India?
Non-resident Indians have blanket permission to acquire immovable property
for residential and commercial purposes while foreign citizens of Indian
origin require RBI permission to acquire property for commercial purposes.
The RBI also permits free sale and transfer of such property. However
applications for repatriation of proceeds will be considered by the RBI only
if the property has been held for a period of at least three years.
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Are NRI's permitted to bring precious metals like gold & silver into India?
NRI's can bring gold upto 5000gm as part of their baggage once in six
months provided they have stayed abroad for a continuous period of six months.
This gold can be brought into India in any form except in the form of
jewellery studded with stones and pearls. Customs duty is payable in any
convertible foreign currency @ Rs. 220/- per 10 grams of gold. NRI's are
also permitted to bring in upto 100 kg of silver as part of their personal
baggage irrespective of whether they have stayed abroad for a period of six
months or not. Customs duty is payable @ Rs. 500/- per Kg.
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