RBI Allows Residents for Joint Holding of Property Outside India !

Reserve Bank of India has modified the Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2015 vide notification dated 21.1.2106 in Gazette of India . Now spouse who is resident in India can be joint holder of property bought by his/her spouse resident outside India . Similarly, company can also acquire the property outside India if certain conditions are fulfilled. Therefore, with the new regulation effective now, following persons are allowed to acquire the immovable property outside India without approval of RBI :

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