• Questions on changing to foreign citizenship

I am planning to take up foreign citizenship. Therefore I had few questions on what is allowed or what happens to the existing situations when I change to foreign citizenship.

1. Can we inherit agriculture land? My parents own agriculture land and houses
2. Can we purchase a land?
3. Can we own agriculture land?
4. Getting loans in india for investments?
5. What other disadvantages will I have?
6. What about my NRI bank accounts will they be closed?
7. What happens to the loan in my name in India.
8. What happens to the land I currently own?
Asked 1 year ago in Civil Law

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10 Answers

1) you can inherit agricultural land 

 

2) you cannot purchase agricultural land 

 

3) an OCI cardholder can buy property in India as long as it is not agricultural land, a plantation property, or a farmhouse

 

4) OCI (Overseas Citizen of India) possessing foreign passport can also be sanctioned Home Loan.

 

5) you can continue the repayment of loans 

 

6) continue with ownership of land owned by you 

 

7) main disadvantage is you are not eligible for govt jobs 

 

8) you cannot purchase agricultural land after being OCI

Ajay Sethi
Advocate, Mumbai
97474 Answers
7880 Consultations

Answered your question 

Ajay Sethi
Advocate, Mumbai
97474 Answers
7880 Consultations

1. Yes. Citizenship and right of inheritance are different and distinct. 

2. Yes. Law applicable on FDI shall apply. 

3.  A foreign national of Indian origin or NRI can buy property in India but the same shoukd be residential land, homes or flats in India bilut cannot buy agricultural land. However, foreign national or NRI can inherit agricultural land. In case of national of pakistan etc rule differ. 

4. Yes, if bank agree. Law applicable on FDI shall apply. Registration with SEBI is mandatory. Loan amount cannot be used for investment in agricultural land, plantation or investment in real estate and relending purpose. 

5. Limited rights, Applicability of various rules like FDI, registration with SEBI, restriction on investment etc. 

6. Yes. With limitations and restrictions. 

8. You can own agricultural land received by inheritance. 

 

Siddharth Srivastava
Advocate, Delhi
1451 Answers

You can only inherit and can’t buy agricultural land in India 

Prashant Nayak
Advocate, Mumbai
32837 Answers
209 Consultations

1. As a foreign citizen, you cannot inherit the agricultural property during the lifetime of your parents.

2. No, not as a foreign citizen..

3. The land should have been bought before you acquired the foreign citizenship

4. It depends on the lender's policy.

5. You have to quote so that an opinion can be given

6. No they will not be closed automatically.

7. It will remain on your name till you discharge them.

8. It will remain on your name itself.

T Kalaiselvan
Advocate, Vellore
87672 Answers
2354 Consultations

1. As a foreign citizen, you cannot inherit the agricultural property during the lifetime of your parents.

2. No, not as a foreign citizen..

3. The land should have been bought before you acquired the foreign citizenship

4. It depends on the lender's policy.

5. You have to quote so that an opinion can be given

6. No they will not be closed automatically.

7. It will remain on your name till you discharge them.

8. It will remain on your name itself.


1. As a foreign citizen, you cannot inherit the agricultural property during the lifetime of your parents.

2. No, not as a foreign citizen..

3. The land should have been bought before you acquired the foreign citizenship

4. It depends on the lender's policy.

5. You have to quote so that an opinion can be given

6. No they will not be closed automatically.

7. It will remain on your name till you discharge them.

8. It will remain on your name itself.

T Kalaiselvan
Advocate, Vellore
87672 Answers
2354 Consultations

1. Can we inherit agriculture land? My parents own agriculture land and houses
Ans: Yes, you can inherit the parents or ancestral land.

2. Can I purchase a land?
Ans: Yes, you can purchase Non Agriculture land or Flats, Bungalow in Real Estate investment.

3. Can I purchase agriculture land?
Ans: No you can't purchase agriculture land in India, but can take land on lease for maximum 5 years.

4. Can I get or apply for loans in India for investments?
Ans: No, You can't apply for loans.

5. What other disadvantages will I have?
Ans: If you try to invest directly on your name that's not possible. Here are very strict laws for direct Investment.

6. What about my NRI bank accounts will they be closed?
Ans: No, they can't close NRI bank Account if you residing in foreign. Once you are in India and stayed here in India more than 180 days than your NRI account will get closed. s

7. What happens to existing loan in my name in India.
Ans: That you have to pay EMI how you are paying or if you want to close it by paying the amount than it will close it.

8. What happens to the land I currently own?
Ans: It will be your only. And you will be Title holder.

 

Ganesh Kadam
Advocate, Pune
12997 Answers
264 Consultations

Dear Client,

  1. Inheritance of agricultural land is allowed.

  2. The purchase of agricultural land is not permitted.

  3. An OCI cardholder can purchase property in India, except for agricultural land, plantation property, or a farmhouse.

  4. OCI cardholders possessing foreign passports are eligible for sanctioned home loans.

  5. Loan repayment can be continued.

  6. Ownership of land owned by an individual can be maintained.

  7. The main disadvantage of being an OCI cardholder is ineligibility for government jobs.

  8. After acquiring OCI status, the purchase of agricultural land is not allowed.

 

Anik Miu
Advocate, Bangalore
10371 Answers
121 Consultations

NO.

Yes

Cannot purchase agriculture land.

4. Yes.

6. It will convert to NRO and can hold for only six months.

7. Loans will continue. No effect on loans and debts. Liability persists.  

8. If you renounce Indian citizenship, you can still retain the agricultural farmland. 

Yogendra Singh Rajawat
Advocate, Jaipur
23010 Answers
31 Consultations

1. Yes

2. You can purchase residential and commercial property , but for purchasing the agriculture land , the approval of RBI is needed.

3. Yes, with the approval of the RBI

4. Yes

5. You cannot sell the property to other NRI , and the property can be sold to a resident of India only. 

6. No

7.The loan can be continued , and the bank may ask for KYC after getting foreign address

8. Nothing will happen and you will be an owner of all the property 

Mohammed Shahzad
Advocate, Delhi
14751 Answers
224 Consultations

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