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To convert your tourist visa to an X1 visa, first, you need to check whether you are eligible for it or not. After that, for the visa conversion, you can apply through the Indian Bureau of Immigration. The visa conversion process includes submission of an online application, submission of requested documents, and payment of the conversion fees. Additionally, the visa conversion process takes a few weeks to several months, so it is advisable to apply accordingly to avoid an overstaying penalty in the country.
The key difference between the two visas, i.e., X1 and X2, is in their eligibility. The X1 visa is permitted to PIOs who do not have an OCI card and who are not eligible to apply for an OCI card in India. However, the X2 visa is generally for children and spouses of Indian citizens of PIOs.
An Indian X visa is also popularly known as an entry visa. It is permitted to individuals who belong to Indian origin or those who have ties to Indian nationals or PIO/OCI cardholders. An X visa is a multiple-entry visa that allows the applicants to stay longer in the country than an Indian tourist visa.
Generally, an X visa holder in India does not have permission to participate in business activities or employment. This visa is primarily granted for visiting relatives, tourism, or accompanying other X visa holders. However, in some cases of dependent or minor children of Indian origin, the situation is slightly different. The children have permission to study till the 12th grade in India.
Generally, it is not allowed to convert your tourist visa to an X visa unless you meet the specific circumstances as stated by the Ministry of Home Affairs (MHA). An X entry visa is generally for those who belong to Indian origin, those who have strong ties with the country, and want to stay longer in India, and PIOs.
Generally, within 3-7 business days, an Indian X visa application takes to process. However, here it does not include the postal delivery time. Additionally, the processing time may vary depending on the circumstances of the applicant, visa type, stay duration, and increased volume of visa applications.
Yes, as an NRI investing in India is a good option. It allows you to take the benefit of potential growth of the country. Also, there are several investment options available for NRIs to grow their wealth and financially secure their future.
The NRI investment options for NRIs available in India include fixed deposits, mutual funds, real estate, a national pension scheme, gold, and more.
The incomes generated by NRIs in India are taxable in India. This involves rental income from real estate, return on investment, and both short and long-term gain on captain arising from the purchase or sale of assets in the country.
Yes, you can invest in SIP (Systematic Investment Plan) in India like a local Indian resident. Also, it can provide you benefit with rupee appreciation and growth in wealth over time.
Being an NRI you can only continue your existing PPF (Public Provident Fund) account that was opened when you were an Indian resident. Considering this, you are not allowed to open a new PPF account.
The responsibility of tax residency is upon the individual. He/she should consult their personal tax advisor or chartered account (CA) for this. The determination is done by answering certain questions involving the payout form that further guides the TDS application. It is vital to form a tax residency to get the benefits of the Double Taxation Avoidance Agreement (DTAA).
For NRIs fixed deposits are one of the great options to earn fixed return investment in India. In addition, these are stable and secure options for investment with banks and other financial institutions.
Yes, NRIs can invest with a PAN card and NRO/NRE account in a mutual fund and other asset classes. However, the required documents may differ as per the asset class.
NRIs (Non-resident Indians) and PIOs (Persons of Indian origin) both can open an NRE or NRO account.
Yes, an NRI can have both an NRE and NRO account at the same time. Both accounts serve different purposes.
Opening an NRE or an NRO account is not necessary for an NRI. However, it is recommended to open these accounts to manage your finances functionally in India.
The interest earned in an NRE account is free from tax in India. While the interest earned in an NRO account is subject to income tax. So, the NRE account is free from tax in terms of interest income in India.
An NRI can open a few types of bank accounts in India. Such as an NRE account, an NRO account, and an FCNR account.
FCNR stands for Foreign Currency Non-Resident Account. It is a fixed deposit account that permits NRIs to save their money in foreign currencies in India and also offers several benefits.
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