STATUS AND PRIVILEGES OF 'PIO' (PERSON OF INDIAN ORIGIN)
Manish Singh
(Expert) 02 April 2008
(1) A foreign national having the status of PIO can avail the facilities of opening and maintenance of bank accounts and investments in shares / securities in India.
A spouse (not being a citizen of Pakistan or Bangladesh)can avail the above stated facility provided the bank accounts are opened or investments in shares/ securities in India are made by such persons only jointly with their NRI spouses.
But the concerned PIO can not invest or own any immovable property in India.
However, if you have PIO Card then you can also avail these benefits:
A PIO Card holder does not require a separate visa to visit India . The PIO Card holders will not require "Student Visa" for undertaking studies in India and similarly no "Employment Visa" will be required for taking up employment in India . However, they will be required to fulfil other pre-requisite conditions and other formalities in connection with their studies/employment as prescribed by concerned authorities from time to time.
Separate counters for immigration are provided to PIO Card holders at International airports in India .
Parity with Non-Resident Indians (NRIs) in respect of facilities available to the latter in economic, financial and educational fields.
All facilities in the matter of acquisition, holding, transfer and disposal of immovable properties in India except in matters relating to the acquisition of agricultural/plantation properties.
Facilities like those available to children of NRIs for getting admission to educational institutions in India including Medical Colleges, Engineering Colleges, Institutes of Technology, Institutes of Management etc. under the general categories.
Facilities available under the various housing schemes of LIC, State Governments and other Government agencies.
(2)Any wrong done to any person who at the time of the incident was in the teritory of India can file a suit in India in the court of having jurisdiction against the person who has done the wrong.
(3)No dual citizenship is allowed in India in the context of nationality. A person can either be a citizen of India or any other country and if he aquires citizenship of any other country, he ceases to be a citizen of India.
The OCI(Overseas citizenship of India) is not as same as being a citizen of India.
BUT YOU get the same status of being an NRI in terms of aquiring property.
