Posted on: 12-10-10 09:05:24
copy paste of link mentioned below
The benefits of Overseas Citizenship of India (OCI) are:
Multi-purpose, multiple entry, lifelong visa for visiting India whereas for PIO cardholder, it is for 15 years.
PIO cardholder is required to register with local police authority for stay exceeding 180 days in India on any single visit whereas an OCI can stay in India for any length of time.
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Parity with NRIs in respect of all facilities to the latter in economic, financial and educational fields except in matters relating to the acquisition of agricultural/ plantation properties. This implies that an NRI does not have the right to purchase an agricultural land but an OCI card holder has the right. I feel that this is an aberration. How can a person with foreign nationality have better rights than an Indian citizen?
No separate documentation required for admission in colleges and institutions or for employment; Facilities as available to children of NRIs for obtaining admission to educational institutions in India, including medical colleges, engineering colleges, institutes of technology, institutes of management etc, under the general category.
link
dnaindia.com/money/comment_overseas-citizens-have-lifelong-indian-visa-pios-do-not_1449127
Quote:
This implies that an NRI does not have the right to purchase an agricultural land but an OCI card holder has the right. I feel that this is an aberration. How can a person with foreign nationality have better rights than an Indian citizen?
Not sure if this post was a question since it is directly pasted from link above.
Q.2. Whether NRI/PIO can acquire agricultural land/ plantation property / farm house in India?
A.2. No. Since general permission is not available to NRI/PIO to acquire agricultural land/ plantation property / farm house in India, such proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India.
http://www.rbi.org.in/scripts/FAQView.aspx?Id=33
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Raj Canada, thanks for your reply
my post is for information regarding Pio and Oci rights
Pio and Oci is for people who have given up indian citizenship and acquired a different passport.
Nri is a generic term and usually refers for people who still hold indian passport while residing abroad.
One of my friend mailed me that he found out that the great Indian Govt are/have done some changes on the perks of PIO and OCI, wrt Property ownership. This needs reconfirmation though.
PIO
- Is being discouraged especially for people with recent ties to India, 1st generation and even 2nd generation
- PIO is primarily being looked at for people like Jamaicans/South African, who have very remote ties to India and no close family left anymore in India.
- PIO holders cannot own property in India
- Inheritance of residential property allowance has been left at State level to decide and could be a path for lawyers to make big bucks Agriculture land inheritance is not allowed. Commercial is also not allowed
- Trend is NOT to ALLOW - Intention or drive is be OCI
OCI
- Inheritance of Residential and commercial property is allowed.
- Transaction is also allowed
- Inheritance of Agriculture land is left at the State Level and has riders like when did the ownership of the land start. If the ownership started 2 generation ago, it is considered legitimate and if only in the previous generation, they are looking at the length of ownership to establish legitimacy - making judicial process richer
- Outside of inheritance of land, transactions are not allowed - buying/selling. It contradicts the above point making it very questionable and all roads lead to going to courts.
There are some changes being made in the ability to work on PIO as well.
