Can oci card holder be considered as citizen of india ?

ks (Querist) 04 November 2021 This query is : Resolved
Hello,

Below is the link which says that for registration as an "Authorized Person" of a Broker , person should be a citizen of India.
https://www.nseindia.com/trade/authorised-for-membership#:~:text=NSE%2FMEMB%2F13429%20dated%20November,agent%20of%20the%20Stock%20Broker'.

May I know whether an US citizen having OCI Card can apply as an Authorized Person ?

What are the alternatvies if he/ she wants to become Authorized Person ?

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This discussion clarifies whether an OCI (Overseas Citizen of India) cardholder is considered a citizen of India, particularly in the context of becoming an Authorised Person for an NSE broker. While OCI status allows long-term residence and work in India, it does not grant Indian citizenship, voting rights, or the ability to hold public office. Therefore, an OCI cardholder, even if a US citizen, cannot typically apply as an Authorised Person as the role requires Indian citizenship.

P. Venu (Expert) 05 November 2021
What are the facts? What is the context?

kavksatyanarayana (Expert) 06 November 2021
An OCI is not a citizen of India, but the Indian Government has given the cardholder permission to reside and work within the boundaries of India. I think this may useful to you.

ks (Querist) 08 November 2021
https://www.nseindia.com/trade/authorised-for-membership#:~:text=NSE%2FMEMB%2F13429%20dated%20November,agent%20of%20the%20Stock%20Broker'.

As per above link, only Citizen of India can become Authorized person (Sub Broker) of a Main Broker.

Now if OCI is permitted to work within boundaries of India can he be permitted to act as an Authorized Person (Sub Broker) in Share Market ?

ks (Querist) 08 November 2021
Hello Venu Sir,

My sister is Citizen of USA and wants to become Sub Broker (Authorized Person) in NSE under any renowned Broker. These are the facts.

G. ARAVINTHAN (Expert) 05 January 2022
OCI permits one to stay in India for long time. But no right to Vote and no right to hold publice office

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