NRI Corner

NRI Investments in India

Nestled along India's western shore, where emerald waves embrace golden sands, Goa beckons NRIs with promises of paradise in property. With every sunrise painting the horizon in hues of hope, Goa's allure transcends the mundane. NRIs, captivated by the siren song of its azure seas and lush landscapes, seek refuge in this tropical haven. In the heart of Goa's verdant embrace, property investment blooms like a lotus in a serene pond. NRIs find their dreams take root in the fertile soil of this coastal gem, where luxury villas and beachfront retreats rise like whispered secrets. Here, amid swaying palms and vibrant markets, NRIs discover not just real estate, but a legacy to cherish and a story to tell. Goa's timeless charm and burgeoning potential make it an enchanted canvas for NRI dreams to unfurl, where every investment is a brushstroke in the masterpiece of life.

Here are the few frequently asked questions for NRIs
investing property in Goa.

NRI Property Investment is perceived to be very complex but is actually not. Below are the
most discussed questions asked often.

Who is a Non-Resident Indian (NRI)?


A person who is an Indian Citizen by birth but stays abroad for employment, business or vocation purposes is termed as a Non-Resident Indian (NRI). Non-Resident Foreign Citizens of Indian Origin are considered at par with Non Resident Indian citizen (NRIs). (Person Posted in U.N organizations and official deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents).



PERSON OF INDIAN ORIGIN (PIO) CARD A Person of Indian Origin (PIO) means a foreign citizen (except a national of Pakistan, Afghanistan Bangladesh, China, Iran, Bhutan, Sri Lanka, and Nepal) who at any time held an Indian passport Or who or either of their parents/ grandparents/ great grandparents was born and permanently resident in India as defined in Government of India Act, 1935 and other territories that became part of India thereafter provided neither was at any time a citizen of any of the aforesaid countries ( as referred above); Or Who is a spouse of a citizen of India or a PIO

Can NRI or PIO invest in property in Goa or India?


Yes, NRIs & PIOs are allowed to invest in property in Goa as per Reserve Bank of India Guidelines.

Can NRI or PIO purchase a property jointly with a Foreign Citizen in Goa or India?


NO, NRI or PIO CAN NOT purchase a property jointly with Foreign Citizen in any state of India.

Is there a limit to the number of investments in acquiring properties in India?


There is no limitations on the number of properties that NRI or PIO can own in Goa.

Can a person of Indian Origin acquire any immovable property In India by way of inheritance?


A non-resident Indian (NRI) or person of Indian origin (PIO), can inherit any immovable property in India, whether it is residential or commercial. They can even inherit agricultural land or a farmhouse, which they are otherwise not entitled to acquire by way of purchase.

Can a home/land be sold by an NRI or Person of Indian Origin without the permission of the Reserve Bank of India?


Yes, the Reserve Bank of India has granted general permission for the sale of properties in India. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India or paid out of balances in non-resident accounts maintained with banks in India.

What documents are required while purchasing a property in India?


Below are the indicative documents required:
• PAN card (Permanent account number)
• OCI / PIO card (In case of OCI / PIO)
• Passport (In case of NRI)
• Passport size photographs
• Address proof

Is there any tax Benefit for PIOs or NRIs buying properties in India?


No tax benefits are there for PIOs or NRIs unless they file their income tax returns in India.