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Acquisition/transfer of immovable property – Prohibition on citizens of certain countries

FEMA - 83 - Dated:- 11-3-2015 - RBI/2014-15/495 A.P.(DIR Series) Circular No.83 March 11, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Acquisition/transfer of immovable property - Prohibition on citizens of certain countries Attentio .....

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ms of which no person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the Reserve Bank shall acquire or transfer immovable property in India, other than lease, not exceeding fi .....

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ill also be included in the list of countries which are prohibited to acquire/transfer immovable property in India in terms of Regulation 7 of FEMA ibid. 3. Reserve Bank has since amended the Principal Regulations through the Foreign Exchange Managem .....

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