Buying a property on foreign land can be out of aspiration or for the interest of an investment. It is reasonably liberalized to buy an offshore house with or without any reason. As per LRS, or Liberalized Remittance Scheme, up to 2,50,000 dollars per person per year can be used to buy property overseas.
For a property costing more than 2,50,000 dollars, you can buy it with your partner (wife or husband) or a relative, or you have to wait a few more years if you are trying to buy it on your own.
There are many options. country-wise and investment-wise, but the optionality is what matters most.
United Arab Emirates (UAE)
Dubai is one of the dreamlands for many high-net-worth Indians (HNIs) because of its proximity to India, which is just 3.5 hours away. Another helpful fact about investing in the UAE's real estate is because of the DTAA (Double Taxation Avoidance Agreement), there is no double taxation. The DTAA is a tax treaty signed between India and other countries in the best interest of taxpayers who can avoid paying double taxes on their income earned from the source country and the residence country.
Above all Dubai has a lot to lure like ease of doing business, excellent infrastructure, tax benefits, and residency visa options
United States of America (USA)
The ethos of the American dream is still alive and is inspiring to reach heights with the freedom to choose and opportunities to grab. The United States of America allows Indians to buy a property with an Individual Taxpayer Identification Number. If your children are going for higher education or only for investment purposes, buying a property in the land of promise will be a good option for pleasuring leisure or planned diversification of investments.
Singapore
Singapore's real estate market is highly expensive, and a lot of government clearance is needed if a foreigner wants to own ‘land’ with the property. So it is advisable to buy apartments. The well-established financial hub can offer you long-term appreciation, rental income, and a high quality of life through a world-class education system, excellent healthcare, and a modern lifestyle.
Thailand
This land can promise you a great retirement, vacation getaways, or rental income catering to tourists. Thailand can offer a lower cost of living than major Indian cities, with delicious food, a rich culture, and friendly people with a good rental income. Thailand can be a good option for those seeking a lifestyle investment or rental income property in a beautiful location.
If you are willing to buy a property in any location go through careful research, legal complexities, and local government regulations thoroughly before investment.