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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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