Mumbai: Reserve Bank of India (RBI) on Wednesday said citizens of Macau and Hong Kong are prohibited from acquiring property in India without the central bank’s prior permission.
Macau and Hong Kong are both special administered regions of China and join a list of citizens of eight countries which are prohibited from buying property in India without RBI permission.
Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran, Nepal, Bhutan and China cannot acquire property in India and can only lease such assets for a period not exceeding five years, according to RBI.
with thanks : Live Mint : LINK : for detailed news.
