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To apply for a PIO card applicants need to fill a PIO application form, and submit the required documents with fees.
The fee for a PIO card is ₹15,000 for adults and ₹7,500 for children under 18 years old.
Yes, the Person of Indian Origin card is extendable after 15 years.
To convert a person of Indian origin card into an Overseas Citizen of India card takes 2-3 weeks.
Yes, OCI can purchase commercial and residential property in India.
Yes, OCI will get a PAN card in India.
No, OCI card holders are not allowed to vote in India.
Indian-Origin Card is a form of identification that provides specific rights to people of Indian origin.
OCI cardholders are not entitled to get the benefits of government subsidies and repatriation in India.
Yes, NRI, PIO, and OCI are allowed to buy any residential or immovable property in India. However, they are restricted to purchasing agricultural land, plantation property, or farmhouses in the country.
Under the Income Tax Act, the Indian government has reduced the number of staying days from 182 to 120 for the NRIs whose annual income is more than 15 Lakhs.
In most cases, OCI cardholders have the same rights as the NRIs in India. For example, the card provides them with a lifelong visa to travel the country. However, there are some restrictions on them as well like not being able to vote in the Indian election, unlike NRIs.
An OCI card is eligible for those who were Indian citizens at the time of or at any time after January 26th, 1950. In addition, who were eligible to become Indian citizens on January 26th, 1950, or who belonged to a territory that became part of the country after August 15, 1947, or a child, grandchild, or great-grandchild of an Indian citizen.
To apply for OCI card you need to fill out the application form online available at passport.gov.in/oci and upload the required documents with your signature. After that make a printout of the form and along with the mentioned documents submit it to the Indian Post/Mission/FRRO of the country where you are residing.
To repatriate money from an NRO account you need to submit the following documents- a request letter to your bank Form 15CB, 15CA, and A2, an ID card that can be your valid visa or passport, and document proof showing the payment of applicable taxes.
The general criteria of repatriation include verifying an applicant is eligible to go back to their home country. For this, it often needs documents like citizenship proof or a passport. In addition, in some cases it does require a legitimate reason for leaving the nation, certifying the return is safe and voluntary. Also, it complies with any vital legal process in both the home and host country.
As per banking repatriation means the process of fund transferring from an Indian bank account to a foreign bank account, the conversion of funds to a foreign currency.
Generally the repatriation cost ranges between a few thousand dollars to several thousand euros. The price can vary significantly depending on factors like transport method, distance traveled, and involvement of a person or a body. Also with the repatriation cost, flights are often comparable to the daily fare of a commercial round-trip.
The NRIs can repatriate up to USD 1 million per financial year from their NRO accounts in India.
Repatriation of foreign exchange is the process of funds transfer from an Indian bank account to a foreign account by converting the Indian rupees to foreign currency. The Foreign Exchange Management Act (FEMA) governed this process.
