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Indians Dreaming of Dubai Digs: The Money Rules Exposed

Indians 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!

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.

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