NRI/PIO Investment Services
India being one of the most prospective markets for foreign investments, it brings in dynamic business ideas and vast investment through NRIs, PIOs and Foreign entities. BMC’s expert team assists you in planning and choosing most suitable way of investing and complying with all the legal requirements, right from bringing in money till repatriation of profit back to your home country.
Meaning of Non-Resident Indian (NRI) & Person of Indian Origin (PIO)
Definitions of these terms are very important and are to be clearly perceived by the Investor while making an investment decision.
Non-Resident Indian (NRI):
Non Resident Indian (NRI) means a person who has gone out of India or who stays outside India, in either case for or:
On taking up employment outside India, or
For carrying on outside India a business or vacation, or
For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period.
Simply, it means a person resident outside India who is a citizen of India or is a Person of Indian Origin.
When does a Non-resident Indian become a resident of India?
A Non-Resident Indian will be treated as a person resident in India, if he returns to or stays in India, for:
Person of Indian Origin (PIO):
For the purposes of availing of the facilities of opening and maintenance of bank accounts and investments in shares/securities in India,
Person of Indian Origin means any person:
For investments in immovable properties;
Person of Indian Origin means an individual (not being a citizen of Pakistan or Bangladesh or Afghanistan or Bhutan or Sri Lanka or Nepal or China or Iran):