OCI card holders can purchase residential and commercial properties in India. But they are not permitted to purchase agricultural land, including farmland or any kind of plantation property.

No. A foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. However, he/she can acquire or transfer immovable property in India, on lease, not exceeding five years. In such cases, there is no requirement of taking any permission of/ or reporting to the Reserve Bank of India.

Yes, a foreign national who is a ‘person resident i n India’ within the meaning of Section 2(v) of FEMA, 1999 can purchase immovable property in India, but the person concerned would have to obtain the approvals and fulfil the requirements, if any, prescribed by other authorities, such as, the State Government concerned, etc. The onus to prove his/her residential status is on the individual as per the extant FEMA provisions, if required by any authority.However, a foreign national resident in India who is a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan would require prior approval of the Reserve Bank.

• Yes, a person who had bought residential/commercial property/agricultural land/ plantation property/farm house in India when he was an Indian citizen, can continue to hold that property without the approval of the Reserve Bank after becoming an OCI card holder.
• Yes. He/she may transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India and is a citizen of India or to an OCI card holder resident outside India.
• Yes, OCI card holders can rent out their properties in India. For more information on this matter, please follow the link:https://www.rbi.org.in/scripts/FAQView

• Yes, he/she may continue to hold the immovable property under holding license obtained from the Reserve Bank.
• However, he/she can transfer the property only with the prior approval of the Reserve Bank of India. For more details,check the website of the Reserve Bank of India:https://www.rbi.org.in/scripts/FAQVie