OCI card holders: Knowledgeable Take: reply all of your questions on latest OCI modifications.
An essential change launched by the round of March 2021 modifications the reporting obligations of OCI cardholders in India. They need to now report residential handle modifications and occupancy modifications.
One other notable change was launched just a few years in the past and it requires OCI cardholders to acquire a particular allow to undertake Tabligh actions. The outdated circulars and notifications said that OCI card holders had been required to acquire particular permits to conduct “missionary, journalist or mountaineering actions”, however didn’t specify any explicit group.
OCI card holders in search of an internship or employment in overseas nation workplaces in India additionally must acquire a particular allow. It is a new requirement as a part of the March 2021 notification.
Does an OCI cardholder want a visa to journey to India??
OCI card holders don’t want a visa to go to, dwell or work in India.
Do they want permission or prior authorization to journey to India?
OCI card holders should acquire a particular allow to undertake:
- Analysis-related actions;
- Missionary, journalistic, tabligh or mountaineering actions;
- An internship in overseas diplomatic missions or overseas governmental organizations in India or to take a job in overseas diplomatic missions in India; or
- A go to to any space in India that’s notified as protected, restricted or prohibited.
Who’s eligible to be registered as an OCI?
Usually, the next individuals are eligible for registration as an OCI:
- An individual who always held an Indian passport;
- An individual one in every of whose dad and mom or grandparents or great-grandparents was born and was a everlasting resident of India, supplied that neither is at any time a citizen of Pakistan or Bangladesh or another nation that the Authorities might designate once in a while;
- An individual who was a citizen of India or who was eligible to turn out to be a citizen on or at any time after 01/26/1950 or
- Anybody who, or whose dad and mom or grandparents had been born in India throughout the that means of the Authorities of India Act of 1935 (as initially enacted), and who habitually resided in a rustic exterior from India was eligible to turn out to be an Indian citizen on 01/26 .1950
- A minor youngster of each dad and mom who’re residents of India or one of many dad and mom is a citizen of India; or
- An individual of overseas origin who’s the partner of an Indian citizen / OCI cardholder and whose marriage has been registered and survived for a minimal interval of two years.
The OIC program shouldn’t be meant for individuals of Pakistani or Bangladeshi descent.
An individual of Indian descent or a PIO eating regimen was withdrawn in 2015. What occurs to individuals who had been registered as a PIO?
On January 9, 2015, the Authorities of India issued a notification relating to the amalgamation of the plans of Indian Folks and Abroad Residents of India. He said that each one current PIO card holders registered beneath the brand new 2002 PIO card system ought to apply for an OCI card.
What’s the deadline to transform PIO card to OCI card?
The PIO card conversion deadline has been prolonged a number of occasions for the reason that merger of the 2 programs to be able to give extra time for PIO cardholders to file their utility for registration as an OCI cardholder. Extra just lately, Indian Consulates overseas issued press releases extending the deadline till December 31, 202 for PIO cardholders to transform their PIO playing cards to OCI playing cards.
Does an OCI cardholder must register with the Regional Aliens Registration Workplace / Aliens Registration Workplace upon arrival in India?
OCI cardholders are exempt from registration with the Regional Aliens Registration Workplace (FRRO) or Aliens Registration Workplace (FRO) for any size of keep in India. GPK Feedback: Sure, lined by the notification issued by the Ministry of the Inside on March 4, 2021.
Are there any reporting obligations for OCI cardholders?
OCI cardholders ought to notify the related jurisdiction’s FRRO or FRO by electronic mail when their residential handle modifications or there are modifications of their occupation.
Are OCI cardholders allowed to vote in India?
OCI cardholders usually are not allowed to vote, nor are they eligible to run for public workplace or maintain authorities jobs in India, amongst others. An in depth listing of prohibited actions is supplied in Part 7 of the Indian Citizenship Act 1955, as amended once in a while.
Does an OCI cardholder lose their OCI standing upon divorce from an Indian nationwide?
Sure. A overseas nationwide who’s registered as an OIC as a consequence of marriage to an Indian nationwide / individual of Indian descent loses OCI standing after divorce. These overseas nationals should give up their OCI card after the dissolution of the wedding.
Are OCI card holders allowed to purchase agricultural land in India?
No. Though OCI card holders are allowed to purchase actual property in India, they aren’t allowed to purchase agricultural land or farm or plantation property. They’re on par with the NRIs on this space.
In accordance with the International Trade Administration Act 1999 – Major Round on Acquisition and Switch of Actual Property in India by NRIs / PIOs / International Nationals of Non-Indian Origin, a Non-Resident Indian (NRI) is a Indian citizen residing exterior India. .
The acquisition of actual property by overseas nationals is now lined by the Trade Administration Guidelines (non-debt devices), 2019.
Who’s a Non-Resident Indian beneath the Revenue Tax Act, 1961?
An individual’s standing as a resident or non-resident will depend on their interval of keep in India.
The size of keep is counted in variety of days for every monetary yr starting from April 1 to March 31 (mentioned earlier yr beneath the legislation on revenue tax). An individual is deemed to be resident in India in several methods beneath this legislation.
As well as, the date of arrival and the date of departure are thought of to be in the future every in India.
The Revenue Tax Act defines the time period non-resident as an individual who shouldn’t be a resident and Part 6 of the Act incorporates detailed standards of who is taken into account to be resident in India and states that any one that doesn’t meet these standards is a non-resident. .
Are OCI card holders allowed to sit down for entrance exams at greater schooling establishments?
OCI card holders are handled on an equal footing with non-resident Indians and are allowed to sit down for all-India entrance exams or admission exams to greater schooling institutes. They may also be thought of for any supernumerary seat. Nonetheless, OCI card holders is not going to be eligible for seats reserved completely for Indian residents or for choice processes reserved for Indian nationals.
Does an OCI cardholder need to reissue their OCI card every time they renew their passport?
An OCI card have to be reissued every time a brand new passport is issued for an individual as much as the age of 20 and as soon as after 50. Reissue shouldn’t be required between the ages of 21 and 50.
Are OCI cardholders allowed to put money into monetary devices in India?
An OCI Cardholder might, on the idea of repatriation, purchase or promote fairness devices of an Indian listed firm and different securities within the method and topic to the phrases and circumstances prescribed within the Enterprise Guidelines. International Trade (Non-Debt Devices), 2019 and International Trade Administration (Debt Securities) Rules, 2019.
An OCI cardholder might, with out repatriation, purchase or promote an Indian firm’s fairness devices or different securities or contribute to the capital of a restricted legal responsibility firm or an organization or enterprise that owns, the style and topic to the phrases and circumstances specified within the Administration of International Trade (Non-Debt Devices) Rules 2019 and the Administration of International Trade (Debt Devices) Rules, 2019
An OCI cardholder can even:
- Buy or sale of home mutual fund items (each repatriation and non-repatriation foundation)
- Authorities dated securities (aside from bearer securities), Treasury payments (each repatriation and non-repatriation foundation)
- Purchase or promote shares of public sector corporations divested by central authorities / bonds issued by infrastructure debt funds or RSUs in India; (repatriation base)
- Subscribe to the nationwide pension system, supplied that you’re eligible to put money into accordance with the PFRDA legislation (repatriation foundation)
- Nationwide plan / financial savings certificates (non-repatriation foundation)