Q.784 Foreigner can get PAN Card. Non-Resident & Resident joint Demat

Question: Dear Sir , My brother married Russian girl and settled there . He has taken Russian citizenship. 1. Can he obtain PAN? 2. He is joint holder in many properties- House, Shares,MF- all investment by Our father' 3. I can not get shares dematerialized because he does not have PAN and we cant open joint D Mat account. What can be done? What are his PROPERTY RIGHTS? WARM REGARDS VIVEK MANI TRIPATHI Answer: Indian citizens by acquiring foreign citizenship do not automatically lose their property rights in India. Your brother: 1. Can apply for and get a PAN Card. 2. Would continue to be owner of his share of any properties of his father. He won’t lose his share simply because he changed his citizenship and married a foreign girl. 3. If you and your brother prefer, your brother can open a joint Demat account. A non-resident and a resident can have a joint Demat account. Speak to your bank and get advice/guidance from them. Regarding your question “What are his PROPERTY RIGHTS?” I would say he retains all the property rights he had prior to his change of citizenship and marriage.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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Q.784 Foreigner can get PAN

Card. Non-Resident & Resident

joint Demat

Question: Dear Sir , My brother married Russian girl and settled there . He has taken Russian citizenship. 1. Can he obtain PAN? 2. He is joint holder in many properties- House, Shares,MF- all investment by Our father' 3. I can not get shares dematerialized because he does not have PAN and we cant open joint D Mat account. What can be done? What are his PROPERTY RIGHTS? WARM REGARDS VIVEK MANI TRIPATHI Answer: Indian citizens by acquiring foreign citizenship do not automatically lose their property rights in India. Your brother: 1. Can apply for and get a PAN Card. 2. Would continue to be owner of his share of any properties of his father. He won’t lose his share simply because he changed his citizenship and married a foreign girl. 3. If you and your brother prefer, your brother can open a joint Demat account. A non- resident and a resident can have a joint Demat account. Speak to your bank and get advice/guidance from them. Regarding your question “What are his PROPERTY RIGHTS?” I would say he retains all the property rights he had prior to his change of citizenship and marriage.
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