A Non Resident Indian (NRI) is a Citizen of India, who stays overseas for employment/carrying on business or vocation or stays abroad under circumstances indicating an intention of staying abroad for an uncertain duration. Persons posted in United Nations Organizations and officials deputed overseas by Central/State Government and Public Sector Undertakings(PSU) on temporary assignments are also treated as NRIs. Non-resident foreign citizens of indian Origin are treated at par with NRIs.

A person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who held an Indian Passport at any time, or who or whose father or paternal grand father was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955

Under the general permission available, the following categories can freely purchase immovable property in India

• Non- Resident Indian (NRI)- that is a citizen of India resident outside India.
• Person of Indian Orgin (PIO) – that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who at any time, held Indian passport, or who or either of whose father or grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955(57 of 1955)

The general permission, however, covers only purchase of residential and commercial projects

An NRI loan is a loan applicable for Non-Resident Indians only when any of the following are undertaken in India.

• Constructing a property on a plot of land
• Purchase of an under construction or resale house.
• Purchase of a plot sold by a society / development authority.
• Renovation or improvement of an existing property.

• A copy of your passport and visa.
• Salary certificate in English, specifying name, date of joining, designation and salary details.
• Both domestic (NRE/NRO/FCNR) and international bank statements for the last six months.
• If you are not available in India when the application form is submitted, then a General Power of Attorney duly attested by the Indian consulate in your resident country needs to be submitted. If you will be in India then the Power of Attorney can be locally notarized.
• A copy of your appointment letter as well as contract.
• In case you are employed in the Middle East, you need to submit a copy of your labour card/identity card that is translated in English and countersigned by the respective consulate.
• In case you are employed in the merchant navy, you need to submit a copy of your CDC as well as your contract slip with Income details.

Unless returns are filed in India, NRIs cannot avail of the tax benefits as mentioned under Home Loans.

Yes, the Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.

NRIs/OCB's 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