If you are a Non-Resident Indian (NRI) or a Person of Indian Origin (PIO), you can avail of repatriation facility on:
1. Property against which remittance is sought should be acquired as per the applicable laws and in accordance with the provisions of foreign exchange law in force.
2. Documentary evidence in support of the acquisition of the funds/assets proposed to be remitted should be produced. It is required by banks for the same.
3. Undertaking and Certification relating to tax compliance are mandatory.
4. Proceeds should not exceed the amount paid for acquiring the property.
5. Subject to fulfillment of few conditions, proceeds should be credited to NRE account.
6. Repatriation of sale proceeds of residential properties is restricted to two such properties. (It is always advisable to use multiple names in case if you are buying more than one property).
7. Repatriation of sale proceeds of immovable property acquired out of Rupee fund (inward remittance) is available only if the property is held for a minimum period of 10 years. If such a property acquired out of Rupee fund is sold within 10 years, remittance can be made, only if the sale proceeds have been held by the NRI/PIO for the balance period in an NRO Account (Savings/Term Deposits) or in any other eligible security provided such investment is traced to the sale proceeds of the immovable property.
8. Repatriation should be done via 'authorised person'. Authorised person means an authorized dealer/offshore banking unit or any other person for the time being authorised to deal in foreign exchange or foreign securities, by the RBI.
9. Citizens of Pakistan, Bangladesh, Sri Lanka, China, Afghanistan, Iran, Nepal and Bhutan shall require prior approval from RBI to apply for repatriation.