Yes, under the Liberalized Remittance Scheme, , resident individuals can acquire and hold immovable property or shares or debt instruments or any other assets abroad, without prior approval of the Reserve Bank Of India . Resident individuals (including minors) are also allowed to remit up to USD 200,000 per financial year (April March) for any permissible current or capital account transaction or a combination of both that include investment in overseas stocks, shares and property.
However following items are prohibited under the Scheme: