NRI Investment in IndiaNRI Investment Non-Resident Indian or NRI refers to a person of Indian origin staying in a different global location for employment/carrying on business or vocation. They are spread across the world with an estimated population of 40 to 100 million. Most of the NRI populate have migrated to alien countries for better job prospect and future but with the advent of global MNCs (Multinational companies) and implementation of revised foreign policies in India, the NRIs are driven to become a part of this fastest emerging economy.
To encourage this initiation of NRIs to resettle and return back to India, they are granted the following facilities:
Maintenance of bank accounts in India.
Investments in securities/shares of, and deposits with Indian firms/companies.
Investments in immovable properties in India.
Transferring of money to India is no longer a tedious procedure for the NRIs as the availability of efficient Money Exchange Service Providers helps them to send money directly into any bank account within no time. Most of these service providers offer PayPal transfers and 24x7 Customer Support for the expediency of NRIs.
To appreciate the interest of NRIs in India’s immovable properties, the government of India has come up with beneficial investment policies for the NRIs. The Reserve Bank of India allows them to acquire, hold, transfer or dispose off land by way of sale or inheritance. Such properties are meant for the purchaser's bonafide residential use and they are purchased through normal banking channels/home loans or NRE and FCNR.
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