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Questions/Answers Page
Eleven
 Information
provided is for general knowledge only and should not be
deemed to be professional advice. For professional
advice kindly consult professional immigration advisors
or tax consultants depending on your personal situation.
This website is a one person operation,
Please spell check your questions
as I normally just cut and paste questions from emails.
Answers to most questions asked are usually posted
within five days. Answers are posted on this website and
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Email questions to: V. K. Chand at:
question@nriinformation.com
Answers are normally posted in three
to five days.
Reclaiming Indian Citizenship
Q: Hi, I have some questions
regarding dual citizenship.
1) I am originally an Indian citizen but recently taken
Australian citizenship and
applied for OCI.
Now I wish to go back to Indian for good in the year 2012. I
have a house and also
got a family business in India. Now what happens to those when I
take OCI and
Australian Citizenship ?? Also If I wish to set up a company in
Indian next year by
buying a shop, what are the steps I have to take ??
Can I do any business ?? Also down the track I wish to surrender
my Australian
citizenship and get back my Indian citizenship ? can I do that ?
Warm Regards
Biswadeep ( Hochi )
A: 1. Taking foreign citizenship and
OCI does not affect ownership of your property in India.
2. OCI is a lifelong visa for India and treats you at
par with other Indian nationals. You can buy a shop, do business
and live in India.
3. You can probably apply
for Indian citizenship after one years stay in India.
Reference: Citizenship Act 1955 Section 5
Subsection f
(excerpt below)
(f)a person of full age and capacity who, or either of his parents, was earlier citizen of independent India, and has been residing in India for one year immediately before making an application for registration;
Please note that Registered OCIs may be granted Indian citizenship after 5 years from date of registration provided they stay one year in India before making an application for citizenship.
As regards to your desire to surrender Australian citizenship is concerned, India does not allow their citizens to hold foreign passports. Once you get Indian citizenship you will have no choice but to give up Australian citizenship.
A large number of Indians returning for permanent settlement probably choose to use their OCI status to live in India and do not apply for Indian citizenship because they want to retain their foreign citizenships
Getting Internet Connection in India
Q: I am a U.S citizen and anticipate a lengthy stay in India on account of my mother. I want to apply for internet and cell phone connection and have been having a lot of problems.
The reason: My mother lives in a rented apartment and she does not have a ration card to prove residency.(I would have applied in her name because she is an Indian citizen.) I have applied for an OCI card. I don't know if that will help when it finally comes through.
Meanwhile if I were to apply for a PAN card
would that be sufficient to get internet and phone connection.
If not any suggestions? My mother has a bank account. She does
not get bank statements however. If I were to open an NRI
account would that help? would appreciate any suggestions.
Thanks in advance.
Leena Haldipur
A: I can well understand your frustration.
I usually visit Pune, India for about four months every year and normally get an Airtel internet connection in about
two days. I personally visit the Airtel office and apply. They
require a photograph, Rs 500 deposit and proof of address. I
don't have a ration card and have never been asked for one.
I am sure you can get your mothers bank to print out a statement showing her address. This would be the easiest method to show residential address. If your mother has a lease document (Normally this is on a stamp paper) that might also be acceptable. A letter from the landlord perhaps, can also be an option. PAN definitely helps as identification. Your bank should have PAN applications with them and may give you help in filling out the form.
There are cases where a representative of the internet company may come to your residence to verify that you actually live there. This is a normal procedure with some companies.
I am not sure what city you are in but would suggest you visit the offices of the internet company and speak to someone in authority who may be able to expedite your internet connection.
Good luck
Setup Public or Private Limited Company in India Q: Hi Mr. Chand,
Vinita A: Companies incorporated in India as well as
branches of foreign corporations are regulated by the Companies
Act 1956. PIO/OCI holders are usually treated at par as Indian
nationals. For registration and incorporation as an
Indian company an application has to be filed with the Registrar
of Companies. Once the company is duly registered and
incorporated as an Indian company, it will be subject to the
same Indian laws and regulations that are applicable to other
Indian companies operating in India. NRIs Can Purchase Property in India without
OCI/PIO Q:
Hello, I am born in India. I currently live in US and recently
acquired US citizenship. I haven't yet applied for PIO or CIO
card. Am i still treated as NRI. Can i buy property
having born in India without having the PIO/CIO card and being a
US citizen now? Pl advice. Best Regards, Sandeep A: Nri's do not need to have OCI or PIO visa
to purchase property in India. All NRIs can freely purchase
residential or commercial property in India. Purchase of
agricultural land or farm houses however is not allowed.
I would like to know what kind of restrictions apply to PIO card
holders for opening a Private Limited or Public limited company
in India.br /
Would appreciate any guidance. Thanks. Regards
As far as restrictions are concerned it would depend on the type
of company you setup, whether you intend on living in India or
hold a directors post as an NRI, whether repatriation of funds
is a concern etc. Such matters are beyond the scope of this
column and I suggest you seek guidance from a qualified business
lawyer or accountant. They could guide you as to the
most appropriate form of company setup and let you know the pro
and cons of various options so you can make an informed decision.
Is Pan Compulsory of opening Bank Account in India?
Q: Hello,
I have few questions and need your help.
I am US citizen and hold two bank accounts in India. Is it true that all NRI's have to have a PAN number to maintain bank accounts in India.
US passport's don't have our address, so can I send a copy of US Bank statement to prove my residency or do you need statement from Indian Bank.
Does PAN office accepts Utility bill to support from residency in USA.
Do I need to get all documents notarized.
Appreciate your help in this matter.
Thanks
Ajay Maheshwari
A: Unless you have taxable income in India and need to file a tax return in India you do not require a Pan Card to maintain Nri bank accounts.
I believe that currently there is no income tax on earnings up to Rupees 1,60,000 for men and Rupees 1,90,000 for women. If the interest income you receive in India is more than the exempt amount then you should get a PAN and file income tax.
In case you are interested in buying or selling stocks then a PAN is compulsory.
As for what is acceptable as proof of address, Here is an excerpt from the Indian Tax Dept site:
Proof of Identity
1 Copy of passport
2 Copy of other National ID attested by Indian Embassy/Consulate/High Commission/Apostle
3 Copy of Person of Indian Origin(PIO)card issued by Government of India
Proof of Address Copy of any of the following
1 Copy of passport
2 Copy of other National ID attested by Indian Embassy/Consulate/High Commission/Apostle
3 Copy of bank account statement in country of residence, duly attested by Indian Embassy/High Commission/Consulate/Apostle in the country where applicant is located
4 Copy of Person of Indian Origin (PIO) card issued by Government of India
5 Copy of NRE bank account statement**
** showing at least two customer induced transactions in last six months
period and duly attested by Indian Embassy / Consular office / High commission or
Apostle or by the manager of the bank in which the account is held. The applicant may be a joint holder.
NRIs can conduct transactions without a PAN
Q: My wife and I are OCI. We have just moved back to Delhi, India from USA. We are both retired and will not be working here.
We would like to stay in India for about next 10 years. Do we need to get a PAN number if so how to get it, what address to use etc.
We want to buy a car but they are asking for
PAN number. Can we get a drivers license here, what all is
required. I am sorry for asking so many questions. Thank you for
your help.
Emmanuel Qureshi
A: To get a PAN, you simply need to fill out the application form mail it. The fee for a Pan is now Rupees 94. You will also need a passport size photo. The form for applying for a Pan card is called 'Form49A' you can download the form here. I am sure your bank would also have copies of this form. They are free.
PAN applicants need to provide proof of identity and proof of address with their applications.
As proof of address you should just get a bank account statement from your bank in India. This is the easiest document to get.
As proof of identity you can use your passport. Fill in your residential address in India on the form. Your Pan card will be mailed there to you.
While a PAN is required to buy a car in India, NRIs can buy cars without a PAN card by just filling in Form 60. You should let the car dealer know that you are an NRI living in India and ask him to get Form 60 for you to fill out. This is an exemption from the PAN requirement and your car dealer can use form 60 in lieu of a PAN to register your car in India.
It may however be advisable to get a PAN as you will be staying in India for a number of years and a PAN is a good form of identification.
Getting a drivers license in India is an easy process and discussed in detail on this website, please check how to get a driving license in India.
Good luck with your stay in India.
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