Already own a property in India and now becoming US citizen

L

Locust

New Member
I bought property in India as a green card holder and now applying for US citizen ship. I am aware as a PIO, you can invest in India except Agri lands. But I need to get my Citizen ship first before I apply for PIO.

Can I still own the property in my name during the time frame when I adjust my residency status in US (Citizenship) and apply for PIO ? Will there be any issues for the property which I own already in India ? :confused:

If anyone has gone through this stage, can you please share your experience?

Thanks and I appreciate your thoughts
 
No difference

There is no difference in the rules for NRI & foriegn citizens with PIO.
Your property will not be affected at all, if it is NA.
 
Are you sure there is no difference being an NRI and a PIO holder? PIO holder cannot own agricultural lands.
 
The ministry site doesnt say anything

The ministry site link you posted doesnt say anything about NRIs and agricultural land.
Perhaps you posted the wrong one?

THe RBI link I posted has clear cut FEMA rules that NRIs CANNOT buy agricultural land. They can inherit it only. Or if they have Agri. land before being a NRI, that is ok too.
 
Sure does

In the PDF look at item #7: 7.What benefits one is entitled to?
Under PIO holder the difference is specifically called out:
(iv) Parity with NRIs in respect of all facilities available to the later in
the economic, financial and educational fields except in maters relating
to the acquisition of agricultural/ plantation properties. No parity
shall be allowed in the sphere of political rights.

sammySam said:
The ministry site link you posted doesnt say anything about NRIs and agricultural land.
Perhaps you posted the wrong one?

THe RBI link I posted has clear cut FEMA rules that NRIs CANNOT buy agricultural land. They can inherit it only. Or if they have Agri. land before being a NRI, that is ok too.
Click to expand...
 
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