Q.1040 OCI or POI card - Inherit

property of NRI in India

Question: Hi I am NRI married to a Belgium citizen with 2 kids of Belgium citizen and am planning to invest on real estate in India and do have couple of questions. -Which card(OCI or POI) is beneficial for them -Can my wife/kids inherit my property if they are holding OCI or POI card? -If they inherit my property , how long they can own this? is there time limit that they can own the property and have to sell it? Thanx for your help. Ajay Poovadan Answer: Regarding your questions: 1. I assume by POI card you meant PIO card. The only option now is to apply for OCI registration. The PIO card scheme has been canceled by the government of India since January 9, 2015. For more information on this click HERE o It is not mandatory to have PIO or OCI card to invest in Indian real estate. 2. Your wife/kids can inherit property regardless of whether they have OCI or not. Anyone including a foreigner can inherit property in India. [A valid will specifying your wife and or children as beneficiaries would be appropriate] 3. Once property is acquired by way of inheritance there is no time limit for holding such property. The person who inherits property can hold or dispose of the property as they desire. Your wife or kids if they wanted could hold the property as long as they wish.