General permission to Non-Resident to hold, own, transfer or invest in Indian currency, security or any immovable property situated in India [ Section 6(5)] - FEMA Ready Reckoner - FEMA

General permission to Non-Resident to hold, own, transfer or invest in Indian currency, security or any immovable property situated in India [ Section 6(5) of FEMA Act, 1999 ] Section 6(5), too is the reincarnation of the general permission which was given to non-resident by the notification issued under the repealed FERA. In terms of this general permission, a Non-resident is allowed to - hold, own, transfer or invest in Indian currency, security or any immovable property situated in India if such currency, security or property was acquired, held or owned by such person when he was resident in India or inherited from a person who was resident in India.