Indian citizens and OCI cardholders in Mongolia can buy and sell residential and commercial property in India, other than agricultural land and farmhouses, without RBI permission. On a sale, the buyer deducts tax at non-resident rates unless a lower deduction certificate is obtained, and net proceeds can be repatriated within FEMA limits.
- Document route
- Mongolian notary and apostille, or Indian Embassy attestation
- Time difference
- IST is 2h30 behind Mongolia all year
- Rules
- FEMA (Non-Debt Instruments) Rules 2019
- Not allowed to buy
- Agricultural land, plantation, farmhouse
Buying & Selling Property from Mongolia: how it works
For a purchase, we check the title, approvals and encumbrances, review the agreement and complete registration through your attorney holder. For a sale, we draft the deed, deal with TDS and plan repatriation.
We also advise on letting the property and tax on rent.
If you are buying through a home loan from an Indian bank, we coordinate with the lender on the documents it needs from you in Mongolia, and on how loan repayments will be made from your NRE or NRO account.
We also advise on letting the flat while you are away and the tax deducted by tenants on rent paid to NRIs.
What clients in Mongolia should know
- Make all payments through banking channels.
- Apply for lower TDS before selling.
- Keep purchase records for tax.
Step by step from Mongolia
Video consultation
A call at a time that suits Mongolia, after we have read your documents.
Documents signed in Mongolia
Mongolian notary and apostille, or Indian Embassy attestation
Work in India
Our team files, appears and follows up in India, and shares scans of everything filed.
Result and handover
Certified copies and originals are couriered to you in Mongolia where needed.
The full guide
This page covers what changes when you are in Mongolia. For the law, the documents and the step-by-step procedure, read our main page on Buying & Selling Property, or see all services for clients in Mongolia and the NRI Property Law practice area.
Questions from clients in Mongolia
Can I buy property in India from Ulaanbaatar?
Yes, as an NRI, other than farmland and farmhouses.
Can my Mongolian spouse co-own property?
Only with OCI status.
Can I send the money to Mongolia?
Yes, within limits after tax.
Can I take an Indian home loan while living in Mongolia?
Yes, many Indian banks lend to NRIs, subject to their own criteria.