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 Special Privileges for Non-Resident Indians (NRIs)
Government of India has provided some special privileges to
Non-resident Indians (NRIs) in areas of foreign exchange,
investments including in financial sector, investment in real estate
etc. These privileges are over and above the rules applicable to
non-residents foreigners.
Persons of Indian Origin (PIO) and Overseas Citizens of India (OCI)
have been given same privileges in economic field as NRIs except for
investment in agricultural lands.
NRIs/OCI/PIO are granted the following facilities:
• Maintenance of bank accounts in India
• Investment in securities/shares of, and deposits with Indian
firms/companies
• Investments in immovable properties in India
These special privileges could be found at the websites of Ministry
of Overseas Indian Affairs,
Department of Industrial Policy and Promotion and RBI. Some of the
links in thee websites relating to
NRIs are given below.
Policies, Incentives and Opportunities for Overseas Indians January
2005 - http://moia.gov.in/shared/sublinkimages/51.pdf
Ready Recknor for NRIs for Investment in India -
http://siadipp.nic.in/publicat/readyrec.htm
Acquisition and Transfer of Immovable Property in India by a person
resident outside India and Foreigners - http://www.rbi.org.in/scripts/FAQView.aspx?Id=33
FAQ on Foreign Exchange Facilities for Residents -
http://www.rbi.org.in/scripts/FAQView.aspx?Id=53
Ministry of Overseas Indian Affairs -
http://moia.gov.in/index.asp
Reserve Bank of India -
http://www.rbi.org.in/home.aspx
Department of Industrial Policy and Promotion -
http://dipp.nic.in
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