Finance
DeluluIndians Dreaming of Dubai Digs: The Money Rules Exposed
Yo, Indian homies! If you're eyeing that Dubai crib, hold up! You can only send $250K a year, and it better be clean cash. No sneaky loans from UAE banks, fam! Keep your taxes on point or risk the penalties. It's a wild ride, so get a lawyer on speed dial before you hit 'send' on those funds!
few days ago | Amit Kumar
Quick rundown
1.Indians face strict rules when buying property in Dubai.
2.Liberalised Remittance Scheme allows $250,000 per year for property.
3.Family members can pool LRS limits for joint property ownership.
4.Indian residents can't use foreign loans for overseas property.
5.Non-compliance with FEMA can lead to penalties.
