Buying a home in Dubai? Do a FEMA reality check

Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving ‘instalments’ create obligations in foreign exchange, potentially breaching FEMA rules. With Indians among the top property buyers in Dubai, it’s crucial for buyers to understand and comply with Indian forex regulations to avoid legal issues.

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