Explain various modes of acquiring property outside India by a Resident Indian.

According to Section 6(4) of the Foreign Exchange Management Act, 1999 read with Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India by a person resident in India) Regulation 2015: A person resident in India can hold, own, transfer or invest in any immovable property situated outside India if such property was acquired, held or owned by him/her when he/she was resident outside India or inherited from a person resident outside India. A resident can acquire immovable property outside India by way of gift or inheritance. A resident can purchase immovable property outside India out of foreign exchange held in his/her Resident Foreign Currency (RFC) account. A resident can acquire immovable property outside India jointly with a relative who is a person resident outside India, provided there is no outflow of funds from India.