75. Buy Agricultural land in India - Transfer money abroad from property sale
Q: Dear Sir/Madam, Is there a universal law right across India that OCI can inherited land but can not buy new agriculture land? Please clarify. Thanks H D Patel Wellington NZ A. Yes! you have it right. OCI or for that matter NRIs and even Foreigners can acquire agricultural land by virtue of inheritance only. Once you acquire land by inheritance then certain rules have to be followed if such land is to be sold. You specifically mention OCI in your email. Remember OCI allows the holders to stay in India lifelong but does not give them Indian Citizenship, they still remain foreigners. To keep your OCI status you must have a foreign passport. For additional information on selling land or properties in India and transferring money out of India that is acquired from the sale of property please visit my page on property acquisition and sale by NRIs
NRI - OCI - PIO Guide & Information
75. Buy Agricultural land in India -
Transfer money abroad from
property sale
Q: Dear Sir/Madam, Is there a universal law right across India that OCI can inherited land but can not buy new agriculture land? Please clarify. Thanks H D Patel Wellington NZ A. Yes! you have it right. OCI or for that matter NRIs and even Foreigners can acquire agricultural land by virtue of inheritance only. Once you acquire land by inheritance then certain rules have to be followed if such land is to be sold. You specifically mention OCI in your email. Remember OCI allows the holders to stay in India lifelong but does not give them Indian Citizenship, they still remain foreigners. To keep your OCI status you must have a foreign passport. For additional information on selling land or properties in India and transferring money out of India that is acquired from the sale of property please visit my page on property acquisition and sale by NRIs
Disclaimer: Information provided is for general knowledge only and should not be
deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do
change from time to time. Please note that in case of any variation between what has
been stated on this website and the relevant Act, Rules, Regulations, Policy Statements
etc. the latter shall prevail.
NriInformation FAQ
Read Disclaimer at bottom of page
