NRIs, OCIs, and Agricultural Land in India
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- Non-Resident Indians (NRIs) and Overseas Citizens of India (OCI) cannot directly purchase agricultural land, plantation property, or farmhouses in India. \n
- These restrictions are in place under the Foreign Exchange Management Act (FEMA) and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018. \n
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- Inheritance: NRIs and OCIs can inherit agricultural land from a person residing in India. \n
- Special Permission: In rare cases, the Reserve Bank of India (RBI) might grant special permission to an NRI or OCI to purchase agricultural land. This would likely involve very specific circumstances and a compelling reason. \n
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- Contact the RBI directly: The RBI is the best source for determining if your situation qualifies for an exception. They will outline any necessary steps and documentation. \n
- Expect a lengthy process: Applications that require special permission can be complex and time-consuming. There's no guaranteed timeframe for an RBI decision. \n
- Success is not guaranteed: The RBI has the right to deny permission, even with a strong application. \n