NRIs’ Hassles and Their Removals in Property Investment

1
NRIs Hassles and Their Removals in Property
Investment

• The type of property, finance, home loan, payment
  and ownership create hassles in the way of NRI
  property investment. These can be removed by
  these ways

2
Which Type of Property Can be Purchased by NRIs?

• Under FEMA Act, NRIs are permitted to invest in
• Immovable properties
• Commercial and residential

3
How NRIs Can Channelize Funds for Buying a
Property?

• The payment of the purchased house is to be made
  in Indian currency by
• NRE account or,
• NRO account or,
• FCNR account
• Housing loan can also be taken.

4
How NRIs Can Pay EMI of Home Loan?

• Home loan to NRIs can be obtained against the
  deposits in FCNR or NRE account. Its EMI can be
  paid
• Through direct remittance abroad or,
• Rent received from the purchased property
• Transferred money from the account of the
  relatives

5
Can the property be purchased jointly?

• NRIs can purchase the property in partnership
  but
• The joint partner must be an NRI or,
• The joint partner should have contributed money
  in the property
• The joint partners can be relative living in
  India

6
Can NRI retain the ownership of property if
he/she owes it before becoming an NRI?

• Yes, an NRI is permitted to retain the ownership.
  
• The land can be of any type, as movable or
  immovable property.
• He can enjoy the permission of transferring the
  rent to abroad after paying requisite taxes.

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