naturalisation and work in India

[basis]

Some good info from RBI site for Persons of Indian Origins Resident in / outside India -

http://www.rbi.org.in/scripts/FAQView.aspx?Id=33#2

Extract

II. Acquisition of immovable property in India by way of purchase by a person resident outside India.


Q.2 Under the extant foreign exchange regulations to whom is general permission available for purchase of immovable property in India ?


A.2 General permission is available to purchase only a residential / commercial property in India to a person resident outside India who is a citizen of India (NRI) or who is a person of Indian origin (PIO).


Q.3 Who is a Person of Indian Origin (PIO)


A.3 For the purpose of acquisition and transfer of immovable property in India, a PIO means an individual (not being a citizen of Pakistan or Bangaladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who (i) at any time, held Indian passport, or (ii) 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).


Q.4 Is NRI / PIO who has purchased residential / commercial property under general permission required to file any documents with Reserve Bank of India?


A.4 NRI / PIO who has purchased residential / commercial property under general permission is not required to file any documents with the Reserve Bank.


Q.5 Is there any restriction on the number of residential / commercial properties that NRI / PIO can purchase under the general permission available ?


A.5 There is no restriction on the number of residential / commercial properties that NRI / PIO can purchase under the general permission available.


For Residents in India - In fact one need not even be of Indian Origin if resident in India. Except citizens of few countries people have general permission to acquire, hold immovable properties. One needs to look at local states' rules though.

http://www.rbi.org.in/scripts/FAQView.aspx?Id=33#14

Q.51 Is a person resident in India governed by the provisions of Foreign Exchange Management (Acquisition and transfer of immovable property in India) Regulations, 2000 ?


A.51 A person resident in India who is a citizen of Pakistan or Bangaladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan is governed by the provisions of Foreign Exchange Management (Acquisition and transfer of immovable property in India) Regulations, 2000.


Q.52 Where are the terms a `person resident in India' and a `person resident outside India' defined ?


A.52 Section 2 (v) and Section 2 (w) of the FEMA, 1999 defines `person resident in India' and a `person resident outside India' respectively.

Q.53 What is meant by a person resident in India ?

A.53 From FEMA angle, a person resident in India means a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year (April-March) and who has come to or stays in India either for taking up employment, carrying on business or vocation in India or for any other purpose, that would indicate his intention to stay in India for an uncertain period. In other words, to be treated as `a person resident in India' under FEMA a person has not only to satisfy the condition of the period of stay (being more than 182 days during the course of the preceding financial year) but has also to comply with the condition of the purpose / intention of stay.


Q.54 Does Reserve Bank determine the residential status of a person for the purpose of acquisition of immovable property in India ?


A.54 No. Under FEMA residential status is determined by operation of law. The onus is on an individual to prove his / her residential status if question by any other authority.


Q.55 If a foreign national (except a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan) is a person resident in India as per the provisions of Section (v) (i)B of the FEMA, 1999 does he require approval of RBI to purchase any immovable property in India ?


A.55 No, he does not require approval from Reserve Bank from FEMA angle. However, approvals if any, required in terms of regulations prescribed by other authorities such as the concerned State Government etc. will have to be obtained by him / her.