Hi,
Me and my wife came to canada on PR. my wife is 4 month pregnant and we are expecting our first child in april 2011.
i have agricultural land in india and i am included as a farmer on that property.
my question is: if baby born in canada then he/she will be canadian citizen by birth and become a person of indian origin.
in this condition can i add/transfer my agriculture land to my baby.
i have gone through the below link but need experts advice on that.
http://rbi.org.in/Scripts/BS_FemaNotifications.aspx?Id=175
&
http://www.nriinternet.com/INDIA/NRI%20information/NRIs%20to%20India.htm
Thanks in advance,
H M.
Sorry its not answer to your question, but want to know have you got some answer?
4. Acquisition and Transfer of Property in India by a Person of Indian origin
A person of Indian origin resident outside India may -
....
(c) acquire any immovable property in India by way of inheritance from a person resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of these Regulations or from a person resident in India;
______________
You should consult a lawyer in India but I think what it says is that PIOs can acquire agricultural property in India only by way of inheritance.
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i got confirmation from district collector office gujarat and lawyer,
Yes, it's possible to add/transfer any type of property under inheritance.
i found one good link understand basi fema rules for NRI.
http://www.slideshare.net/vinitdeo/fema-quick-guide-for-nris-compatibility-mode
thanks to all for ur concern in this matter.
H M.
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