India

Invest Rs.10 crore, get Indian residency

02 Sep 2016 | By Vijaya
Permanent Residence status in exchange for investment

In a policy aimed at wooing foreign investors, the Indian government announced that foreign investors bringing in a minimum of Rs.10 crore capital will be be eligible for permanent residence status.

To avail this scheme, the investment needs to be at least Rs.10 crore over 18 months or Rs.25 crore over 3 years.

The permanent residency status will be granted for a 10-year period.

In context: Permanent Residence status in exchange for investment

Business visaBusiness visa current provisions

Business Visa is given to individuals visiting India for business purposes like making sales, or establishing contacts, on behalf of companies outside India.

Under the current provisions, business visas are granted to investors for up to 5 years or less. (US citizens can get up to 10 years)

Further, the period of stay for each visit is stipulated to 6 months.

02 Sep 2016Invest Rs.10 crore, get Indian residency

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Employment generation through the scheme

The foreign investment under the said scheme should also be able to generate employment opportunities for at least 20 resident Indian citizens each financial year.
Benefits and caveats of the scheme

02 Sep 2016Benefits and caveats of the scheme

The permanent residency status obtained through the investment route will serve as a 'multiple entry' visa for 10 years without any stay stipulation.

During this period, the foreign investors will be allowed to purchase one residential property and their spouse/dependents can work or study in India.

The scheme though is not available for the Chinese and Pakistani citizens.

other countriesOther countries offering immigrant investor visas

India now joins countries like the US, UK, Canada, Australia, New Zealand, Singapore, Hong Kong, etc, which already have programs in place to grant renewable/permanent residence status in return for investment.

In the US for instance it is called the 'EB-5 Immigrant Investor Program'.

Entrepreneurs making a minimum of $500,000 investment and creating 10 permanent jobs qualify for the EB-5 visa.