NRI Investment in India
No restrictions on NRIs to buy and repatriate the following:
- Government dated securities/treasury bills
- Units of mutual funds
- Bonds issued by PSUs in India
- Non-convertible debentures of companies
- Debt instruments issued by banks
- Shares in public sector enterprises being dis-invested by the government
- Shares and convertible debentures of Indian companies under the FDI scheme subject to the terms and conditions specified in the relevant FEMA notification
- Shares and convertible debentures of Indian companies through stock exchange under portfolio investment scheme, subject to the terms and conditions specified in the relevant FEMA notification.
They can purchase the following on non-repatriation basis:
- National Plan/Savings Certificates, non-convertible debentures of companies
- Shares and convertible debentures of Indian companies through stock exchange under portfolio investment scheme subject to terms and conditions in FEMA notification
- Exchange traded derivative contracts approved by the SEBI, from time to time, out of INR funds held in India on non-repatriable basis, subject to the limits prescribed by the SEBI.
Note: NRIs are not permitted to invest in small savings or Public Provident Fund (PPF).
Investment in immovable property:
- One can buy any immovable property in India other than agricultural land or farm house plantation property, by way of gift from a person resident in India or from a person resident outside India who is a citizen of India or from a person of Indian origin resident outside India.
- NRI may acquire any immovable property in India by way of inheritance from a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations or from a person resident in India
- An NRI may transfer any immovable property to a person resident in India.