Move sale proceeds to an NRO account, pay capital gains tax, obtain Form 15CA + 15CB from a CA, and remit up to USD 1 million per financial year under FEMA.
Execute the POA on the relevant stamp paper, get it notarised and apostilled (Hague countries) or attested by the Indian Embassy (non-Hague countries). Then register or adjudicate in India.
NRI = Indian citizen residing abroad (tax & banking term). PIO = foreign citizen of Indian origin (now merged with OCI). OCI = lifetime visa for foreign citizens of Indian origin with extensive privileges, but NOT Indian citizenship.
NRE (Non-Resident External) — for foreign earnings remitted to India, fully repatriable, tax-free in India; NRO (Non-Resident Ordinary) — for Indian-sourced income (rent, pension, dividends), repatriable up to USD 1 million per financial year, subject to 30% TDS; FCNR (Foreign Currency Non-Resident) — foreign currency fixed deposit, tax-free, fully repatriable. To open an NRO account you need your passport, visa or work permit, overseas address proof, and PAN — or Form 60 if you do not yet have a PAN card.
Under Section 6 of the Income Tax Act, 1961, individuals are Resident if (a) 182+ days in India in financial year, OR (b) 60+ days in India + 365+ days in preceding 4 years (60 days extended to 120 days for Indians whose Indian income exceeds ₹15 lakh + other conditions). RNOR (Resident but Not Ordinarily Resident) for 2-3 years on return — favourable tax treatment.
NRIs can inherit any property including agricultural land from Indian residents. Inheritance not taxable; subsequent income / sale proceeds taxable. Need succession certificate / probate / legal heir certificate for property mutation. Sale proceeds repatriable up to USD 1M/FY through NRO route.
Yes — NRIs and OCIs can freely purchase residential and commercial property in India without RBI permission. However, they cannot buy agricultural land, farmhouses or plantation property (except by inheritance or gift from a resident Indian). There is no limit on the number of properties owned. Funding must come from NRE, NRO, FCNR accounts or foreign remittances — not foreign currency cash.
An NRI should make a separate will specifically for Indian assets — property, NRO/NRE accounts, demat holdings and investments. A foreign will is technically valid in India but requires additional legal steps to be given effect. Without any will, Indian succession law applies — and depending on your religion, this may not distribute assets as you intend. Nomination in bank accounts is useful but does not override a will.
Under FEMA 1999, NRIs must notify their bank and convert resident accounts to NRO within a reasonable time of becoming NRI, stop contributing to PPF, and route Indian equity investments through the Portfolio Investment Scheme (PIS). Penalties for FEMA violations can reach 3 times the sum involved plus daily continuation penalties. Most historic violations can be regularised through the compounding mechanism.
NRE (Non-Resident External) — for foreign earnings remitted to India; interest fully tax-free; fully repatriable. NRO (Non-Resident Ordinary) — for Indian-source income (rent, pension, dividends); interest taxed at 30% TDS; repatriable up to USD 1 million per year. FCNR (Foreign Currency Non-Resident) — fixed deposit held in foreign currency (USD, GBP, EUR etc.); tax-free; fully repatriable; protects against rupee depreciation. Most NRIs need both NRE and NRO; FCNR is optional for those wanting to avoid conversion risk.
