In terms of Gazette Notification of Ministry of Home Affairs, Government of India, on and from 9th January, 2015 all the existing Persons of Indian Origin Cardholders Registered as such shall be deemed to be Overseas Citizens of India (OCI) Cardholders. Overseas Citizen of India is defined as under:

Any person of full age and capacity other than who is or had been a citizen of Pakistan; and Bangladesh:-

i. Who is citizen of another country, but was a citizen of India at the time of or at any time after, the commencement of the Constitution; or

i. Who is citizen of another country, but was eligible to become a citizen of India at the time of the commencement of the Constitution; or

Who is a citizen of another country, but belonged to a territory that became part of India after 15th day of August, 1947; or who is a child or a grandchild or a great grandchild of such a citizen; or

IV. A person who is a child of a person mentioned in (i); or v. A person who is a minor child and whose both parents are citizens of India or one of the parents is a citizen of India; or

vi. Spouse of foreign origin of a citizen of India or spouse of foreign origin of an Overseas Citizen of India Cardholder registered and subsisted for a continuous period of not less than two years immediately preceding the presentation of the application for OCI Card.

When OCI comes to India with an intention to stay for an indefinite period and stays more than 182 days, he/she loses the privileges available to NRIs/PIOs/OCIs. Such OCI is required re- designate / convert his/her NRE/NRO/FCNR Accounts to resident account, or NRE/FCNB account to RFC account as the case may be. Further, an OCI can open all types of accounts allowed to a Resident customer.

Benefits of OCI

OCIs are entitled to a multipurpose, multiple entry, lifelong visa allowing them to visit India at any time, for any length of time and for any purpose. They are exempted from police reporting for any length of stay in the country. They have also been  granted all rights in the economic, financial and education fields in parity with NRIs except, the right to acquisition of agricultural or plantation properties.

Processing of Applications:

The applicant has to submit the Part ‘A’ of the application form online at http://mha.nic.in/uniquepage.asp?Id_Pk=553

Are You Not Satisfied ? – Check for More Solution here

Related Post

Leave a Comment

Discover more from AskBanking - Get solution to all your banking FAQs

Subscribe now to keep reading and get access to the full archive.

Continue reading