If you are interested in obtaining permanent residency in India, you should know that there are two ways to obtain it if you already have ties with the country: being an OCI (overseas Citizen of India) or a PIO (Person of Indian Origin). India continues to attract people from all over the world thanks to the opportunities offered by the economic growth of the country. If you want to know in detail what is involved in becoming an Indian resident, our team of lawyers in India can help you.
| Quick Facts | |
|---|---|
| Temporary residence permit types |
Employment |
|
Time needed to obtain the temporary residence permit (approx.) |
minimum 3 working days |
|
Temporary residence permit validity |
2, 3 or 5 years for the employment visa, depending on its category |
| Documents for obtaining temporary residence |
Filled-in application form |
| Mandatory registrations with state authorities (i.e. with the population/municipality register) | Yes |
|
Dependents can join the temporary permit holder (Yes/No) |
Yes |
| Temporary or permanent residency for investment purposes |
Yes. Permanent residency status can be awarded, subject to a minimum investment |
| Minimum temporary residence before applying for permanent residence | Applications for citizenship by registration can be submitted after a minimum lawful stay of 12 years. The period is lower in some cases. |
| Documents for obtaining permanent residence |
Application form Valid foreign passport Residence permit Proof of fee payment Other documents |
| Naturalization requirements |
Proof of lawful stay in the country and integration Oath of allegiance Renouncing one’s previous citizenship |
| Citizenship after permanent residence | Yes. When the applicant has lawfully lived in India for at least 7 years |
If you have no ties to the country, the way to get an Indian PR card is to obtain Permanent Residency Status (PRS) by making a significant investment in the country. This is the path to permanent residence in this country that we will discuss in this case.
To obtain permanent residency in India in 2024 there are several considerations and it is a process that involves many steps in which you must be careful and diligent, so we recommend that you have the help of a law firm in India.
Permanent residence in India can be one of the best ways to secure a place in the accelerated growth that the country has been experiencing during the last years in different industries. But as India’s immigration legal scheme has not been updated in a long time, obtaining a pr card in India can be more challenging than one might expect at first.
Read below to find out more about this essential step for those who are interested in immigration to India.
The process to obtain permanent residency in India can be long and tedious if you are not familiar with the local laws or if you are unclear about the authorities involved in the process.
Our immigration lawyers in India are prepared to help any foreign investor to move forward with the process of obtaining residency in this country in 2024.
Who is eligible for Permanent Residency Status?
Residency in India through the investment route is available to investors who inject capital into the country through the means stipulated in the Foreign Direct Investment guidelines laid down by the Department of Industrial Policy and Promotion.
To get your permanent residence in India, your investment can be made through new companies or by injecting capital into existing companies.
The minimum investment is at least INR 10 crores within 18 months or INR 25 crores within 36 months.
In addition to making a minimum investment, the company in which the capital is injected needs to provide employment for at least 20 resident Indians in each financial year. This is an important condition, and its compliance is evaluated on an assessment by a statutory auditor.
Not only do investors gain access to the PRS through this route, but also their spouses and dependents automatically obtain the same immigration status. This is the best way to obtain residency in India for a foreign family group. However, the process involves many details and we recommend being supervised by a law firm in India.
There is an exception as to who is eligible for this type of visa. The restriction only applies to Pakistani nationals or nationals of other countries with Pakistani origins. This is due to the complicated relations between the two countries.
What are the advantages of becoming a permanent resident in India?
Obtaining permanent residency in India comes with a number of advantages that you and your dependents can start enjoying as soon as you successfully complete your paperwork. Once you have your PR card in India in order you can start executing your investment strategies without any problems.
In order to be successful in filing an investment application for obtaining permanent residence in India, it is highly recommended that you have the advice of a team of attorneys in India with extensive experience in this field. Not only will they be able to assist you in the process, but their legal and local market knowledge can help you maximize your investment.
These are some of the advantages of obtaining residency in India:
- Free entry and exit: you no longer have to worry about stipulated stays or limits, you and your dependents can come and go from India as you please;
- You will be able to acquire a residential property for dwelling purposes – a step followed by many of those who relocate to India;
- Your spouse and dependents can work in India, employed in the private sector;
- Your spouse and dependents can start or continue their studies in India without having to apply for a study visa.
If you want to know the rest of the advantages of residing in India, you can get first-hand information by talking to our attorneys in India.
Our immigration lawyers in India will answer all your questions.
What are the main steps in the process of obtaining the PRS?
The process of becoming an Indian resident is subject to a clear set of rules and this is why applicants are required to obtain proper assistance. You will need the help of a law firm in India to assist you at every stage of the process because there are many factors that can affect an application. Each application is unique and can present details that make the process different.
That said, the process has a few steps that are generally applicable in any foreign investor application when applying for permanent residency in India in 2024. Let’s see what they are:
- The investor is granted a business visa for 18 or 36 months depending on the investment he/she intends to make in the country. This visa will serve the investor while his initial application is reviewed.
- After meeting the requirements of eligibility, investment, and employment generated in India, the investor and his dependents apply for the PRS.
- The Ministry of Home Affairs ensures that there are no problems with the application and if all goes well the applicant must continue with the process by submitting a series of documents.
- The applicant receives his PRS for a period of 10 years, renewable thereafter.
Documents needed for the PRS application for foreign investors
The following documents are required when submitting the application for permanent resident status in the case of investors:
- Passport and visa copy;
- Photograph;
- Proof of residence;
- Annual return copy (this is for the company in which the foreign entrepreneur made the minimum investment); other documents, such as a letter from the tax authorities, can be required as proof that the income tax return was fully paid and that the company has fulfilled all its tax obligations;
- Proof of accommodation; if the applicant is staying at a hotel in India, a special form will be submitted; moreover, if any address changes occur, the applicant is required to inform the authorities.
If you want to know more about the residency requirements in India, do not hesitate to contact our attorneys in India to discuss your case.
In some cases, the permanent residence status can be revoked. This can happen in some of the following cases:
- the foreign national failed to meet the requirements for the minimum investment and the requirements to generate the employment of residents;
- the investor had borrowed loans and refuses to pay these back (is considered a willful defaulter);
- the individual is mentally ill and has been declared so by the authorities;
- the investor has been convicted for any offense by a court;
- other reasons that may make the investor’s continued stay in India undesirable.
Foreign investors who have had their permanent resident status revoked will be asked to leave India (together with their spouse and dependents) within 3 months of the revocation order’s date. Moreover, the individual will also be asked to dispose of his immovable property in India (no later than 1 year after the revocation).
Obtaining permanent residency in India offers several important advantages both to the investor and to his dependents. Those looking to relocate to the country with their family can take advantage of these if they are able to comply with the eligibility criteria.
Living in India
India became the world’s most populous country, surpassing China, the country that had held this status since at least the 1950s. According to UN estimates the country’s population reached 1,425,775,850 people in 2023. Official data on the country’s population from Indian authorities is lacking, as the population census of 2021 has been delayed. Other key facts presented by the Pew Research Center show that:
- the country’s population has grown by more than 1 billion people since 1950;
- India’s population is greater than the entire population of Europe (estimated at 744 million), or that of the Americas (estimated at 1.04 billion);
- while China’s population is declining, India’s is continuing to grow.
- Relocating to India, especially for investors who come to the country with their families, will mean that the entire family will need to adapt to the local culture and that the children will need to be enrolled in a public or private school (the latter being a more popular option, with varying costs). Having comprehensive medical insurance is important in India.
Foreign nationals living in India will need to open a bank account and this is a step wish which our team can assist. Moreover, our lawyers in India will also be able to provide assistance with several other issues, as needed, through a power of attorney.
Sufficient lawful residence in the country can allow foreign nationals to apply for citizenship in India, should this be their desired step. Our team can provide more detailed information about the naturalization process upon request, however, in most cases, the foreign national will need to reside lawfully in the country for twelve years before submitting the application.
You can reach out to us if you are interested in immigration to India. Our team is able to provide case-specific details, depending on your country of origin, as well as your purpose for remaining in the country for medium to long-term periods. Moreover, we provide guidance and assistance to foreign citizens who wish to reunite with their family members after they have settled in India. You can reach out to us for complete assistance during your residency application in 2024.