A non-resident is an Indian citizen who stays abroad for employment/business or vocation outside India or stays abroad under circumstances indicating an intention to stay abroad for an indefinite period of time. (Persons posted in United Nations organizations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-residents). Non-resident foreign citizens of Indian origin receive the same treatment as non-resident Indian citizens (NRIs).
A person of Indian origin is defined as a person (who is not a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan) who:• held an Indian passport at any time, or • whose father or paternal grandfather was a citizen of India under the Indian Constitution or the Citizenship Act, 1955.
The following categories can freely purchase immovable property in India under the general permission available: I Non-Resident Indian (NRI) – a citizen of India who resides outside of India. ii) Person of Indian Origin (PIO) – an individual (not a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan) who 1. held an Indian passport at any time, or 2. whose father or grandfather was a citizen of India under the Indian Constitution or the Citizenship Act, 1955. (57 of 1955). However, the general permission only applies to the purchase of residential and commercial property.
Yes, under the Reserve Bank’s general permission, NRIs can acquire property other than agricultural land/farm house/plantation property provided the purchase consideration is met either through inward remittances in foreign exchange through normal banking channels or through funds from the purchaser’s NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Reserve Bank’s Central Office in form IPI 7 within 90 days.
A power of attorney (POA) or letter of attorney is a written directive to represent or carry out an action on behalf of another in a private, business-related, or other legal matter, sometimes against that person’s wishes. The principal, grantor, or donor is the person giving another person permission to do something (of the power). An instrument of transfer for any right, title, or interest in real estate is not a power of attorney. A power of attorney, also known as a letter of attorney, is a legal document that gives another person—known as the agent or attorney-in-fact—typically a legally capable relative or close friend who is at least 18 years old—authority to make any number of financial, legal, and health care decisions on their behalf. Another name for a power of attorney is a POA. Generally, one chooses a POA as a provision if he or she becomes incapacitated.