Acquisition and transfer of immovable property by NRI or OCI: A Complete guide for NRIs/OCIs
The Foreign Exchange Management Act, 1999 (FEMA), (Non-Debt Instruments) Rules 2019, prescribes specific conditions regarding the purchase, gift, inheritance and transfer of immovable property in India by persons resident outside India. The most important point for NRIs and OCIs is that the rules are different depending upon how the property is acquired or transferred. There […]
NRI Intestate succession: Legal Rights and Procedures for NRIs
Non Resident Indians (NRIs) often accumulate assets across jurisdictions particularly in India in the forms of ancestral property, investments, and financial holdings. However, a significant legal complication arises when an NRI dies intestate (i.e without leaving a Will for succession of his assets). In such cases, the distribution of assets is governed strictly under the […]