OCI cardholders sell property


OCI Cardholder is at parity with Non-Resident Indians (NRIs) towards property transactions. As per FEMA, RBI frames the Directions / Regulations concerning the Acquisition and Transfer of immovable property in India.
An NRI or an OCI can acquire any immovable property in India by way of inheritance from a person resident outside India who had acquired the property in accordance with the provisions of the foreign exchange law in force at the time of acquisition or can also acquire any immovable property in India by way of inheritance from a person resident in India
The above Regulation also permits NRO/OCI to transfer or sell the immovable property without prior permission from RBI

RBI Permission

  • Grant of multiple entry lifelong visa for visiting India. However, for the following purposes, they shall obtain special permission or a Special permit from competent Authority
  • Exemption from registration with FRRO or Foreigners Registration Officer for any length of stay in India
  • Parity with Indian nationals
  • Parity with foreigners:In respect of all other economic, financial, and educational fields not specified above or notified by RBI under FEMA, OCI Cardholder shall be treated the same as a foreigner.