Repatriation of Real Estate Investments from India
Repatriation of real estate investments from India refers to the process of transferring the proceeds of the sale of real estate assets in India back to the foreign country of the investor. NRIs and OCI cardholders who have invested in real estate in India can repatriate the sale proceeds of their real estate investments subject to certain conditions and regulations.
Here are the rules and regulations governing repatriation of real estate investments from India:
- NRIs can repatriate up to USD 1 million per financial year from their NRO (Non-Resident Ordinary) account or the sale proceeds of their residential or commercial property in India after deducting taxes and other charges.
- OCI cardholders can repatriate the sale proceeds of their residential or commercial property in India after holding the property for at least two years from the date of acquisition or construction. The repatriation limit is up to USD 1 million per financial year.
- Any repatriation of funds from India requires the submission of certain documents and compliance with the regulatory guidelines of the Reserve Bank of India (RBI).
- NRIs and OCI cardholders need to obtain a certificate from a chartered accountant confirming that all applicable taxes and fees have been paid before repatriating funds from India.
- Repatriation of funds may take some time and involve some paperwork, so investors should plan accordingly.
Overall, repatriation of real estate investments from India is possible for NRIs and OCI cardholders subject to certain conditions and regulations. It is recommended that investors seek professional advice from experts in taxation and legal matters before initiating any repatriation of funds.
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