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Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations 2015

FEMA - 7(R)/2015-RB - Dated:- 21-1-2016 - RESERVE BANK OF INDIA (Foreign Exchange Department) CENTRAL OFFICE NOTIFICATION No. FEMA 7(R)/2015-RB Mumbai , the 21st January , 2016 G.S.R. 95(E).-In exercise of the powers conferred by clause (h) of sub-section (3) of Section 6, sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 7/2000-RB dated May 3, 2000, as amended from time to time, the Reserve Bank hereby makes the .....

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lations shall have the same meanings respectively assigned to them in the Act. 3. Restriction on acquisition or transfer of immovable property outside India:- Save as otherwise provided in the Act or in these regulations, no person resident in India shall acquire or transfer any immovable property situated outside India without general or special permission of the Reserve Bank. 4. Exemptions:- Nothing contained in these regulations shall apply to the property - (a) held by a person resident in I .....

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