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Acquisition and Transfer of Immovable Property outside India

Regulation 5 - Regulation - FEMA - Regulation 5 - 5. :- (1) A person resident in India may acquire immovable property outside India, - (a) by way of gift or inheritance from a person referred to in sub-section (4) of Section 6 of the Act, or referred to in clause (b) of regulation 4; (b) by way of purchase out of foreign exchange held in Resident Foreign Currency (RFC) account maintained in accordance with the Foreign Exchange Management (Foreign Currency accounts by a person resident in India) .....

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