How a person resident in India can hold, own, transfer or invest in any immovable property situated outside India. Comment.

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) Regulations, 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 person resident in India can acquire immovable property outside India by way of gift or inheritance from a person resident in India who has acquired such property in accordance with the foreign exchange provisions in force at the time of such acquisition. A person resident in India can purchase immovable property outside India out of foreign exchange held in his/her Resident Foreign Currency (RFC) account. A person resident in India 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.