NRI Corner

Foreigners and NRIs

Foreigners and NRIs

The rules for NRIs are accommodating in many respects in India. At Soman Group, we offer full service and support to foreigners and NRIs to invest, sell or buy land or property in their native nation.

  • No special sanction or permission is required to buy property in India.
  • They are allowed to rent property and send back their rental proceeds to the country they are living in currently (although this earning is subject to tax.)
  • An NRI who is an Indian Citizen can sell his Immovable Property (other than agricultural or plantation property or farmhouse) to another NRI, provided it is routed only through Indian channels. This means that the buyer has to invest in India through remittance from abroad by way of normal banking channels or by debit to his account maintained with an authorised dealer. The sale proceeds of the property should be credited to a NRI's bank account maintained with the said dealer in India.