NRI

NRI Guide

This section gives you an overview of the paperwork it takes to purchase an apartment or villa.

What are the documents that should be verified before buying a residential / commercial unit?

An Indian Citizen who holds a valid Indian passport and stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident Indian (NRI). Non-resident foreign citizens, of Indian Origin, are treated at par with non-resident Indians (NRI).

WHO IS CONSIDERED A PERSON OF INDIAN ORIGIN (PIO) FOR INVESTMENT IN IMMO - VABLE PROPERTIES?

A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka or Nepal) is deemed to be of Indian origin if : He held an Indian passport at any time, He or his father or paternal grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (Act No. 57 of 1955).

WHAT IS AN OCB?

Overseas Corporate Bodies (OCBs) are those which are predominantly owned by individuals of Indian nationality or origin residing outside India and include overseas companies, partnership firms, societies and other corporate bodies which are owned, directly or indirectly, to the extent of at least 60% by individuals of Indian nationality or origin residents outside India as also overseas trusts in which at least 60% of the beneficial interest is irrevocable held by such persons. Such ownership interest should be actually held by them and not in the capacity as nominees. The various facilities granted to NRIs