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Macau, Hong Kong Citizens Can't Buy Property in India

The Reserve Bank of India today said that the two special administrative regions of China were included in the list of countries whose citizens are not allowed to hold immovable properties.

Published: 11th March 2015 10:14 PM  |   Last Updated: 11th March 2015 10:14 PM   |  A+A-

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(File photo/Express)

By PTI

MUMBAI: The Reserve Bank today said Macau and Hong Kong, the two special administrative regions of China, have been included in the list of countries whose citizens which are prohibited from acquiring or transferring immovable properties in India.

"As they are notified separately, it has been decided... that citizens of Macau and Hong Kong will also be included in the list of countries which are prohibited to acquire/transfer immovable property in India in terms of Regulation 7 of FEMA ibid," the Reserve Bank of India (RBI) said in a notification

Under Foreign Exchange Management (Acquisition and Transfer of immovable property in India) Regulations, 2000 no citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan without prior permission of the RBI can acquire or transfer immovable property in India, other than lease, not exceeding five years.

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