FEMA 21
The Reserve Bank of India (RBI) apparently has plans underway to relax the restrictions under the Foreign Exchange Management Act (FEMA); in an apparent attempt to enable non-resident Indians (NRIs) to purchase property in India jointly with their spouse holding foreign passports. RBI executive director G Padmanabhan has called for a review of the existing rules [...] Continue Reading »
Non-resident Indians planning to buy property in India jointly with their spouses holding foreign passports could soon be allowed to do so. The Reserve Bank of India (RBI) is planning to relax the restrictions under the Foreign Exchange Management Act (FEMA), which make such acquisitions difficult. Currently if an NRI wants to buy a house or any [...] Continue Reading »
