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Who is an NRI?

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Who is an NRI?

No Comments January 4, 2016

A person residing outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI. The definition of Person resident outside India is defined under section 2(w) of Foreign Exchange Management Act, 1999 as “a person who is not resident in Indi ..

Who is a PIO?

No Comments January 4, 2016

The definition of ‘Person of Indian Origin’ is defined under section 2 (b) of Foreign Exchange Management (borrowing and lending in rupees) Regulations, 2000 and under section 2 (xii) of Foreign Exchange Management (Deposit) Regulations, 2000 as given under:-

“Perso ..

Who can purchase immovable property in India?

No Comments January 4, 2016

Under the general permission available, the following categories can freely purchase immovable property in India:

  • Non-Resident Indian (NRI)
  • Person of Indian Origin (PIO)