letsee said:
Excellent Post! Thanks a Bunch!!
Can you please also explain
1) What is the Process of Converting a PIO to OCI and how much time it would take ?
2) What are the benefits of an OCI comapred to PIO (Except PIO is only 15 yrs and OCI is lifelong)
Thanks..
1) You have to file the OCI Application form and send the notorized docs and $25 fees to the consulate. Try this link or other Indian Consulate links:
http://www.cgihouston.org/OverseasCitizenship.html
OCI process is new so it's hard to say the timelines. It varies from one consulate to another. Right now, I would guess 3-4 months.
2) Both will allow you to work in private sector, and stay in India for education purposes. With the PIO, you have to register with the FRRO or police authorities if a single stay gets to be more than 6 months, with OCI there are no formalities to report for any length of stay in India. Both prohibit you buying an agricultural land or plantation in India.
The following is a quote from the Houston Consulate;s OCI page:
"Persons registered as OCI have not been given any voting rights, election to Lok Sabha/Rajya Sabha/Legislative Assembly/Council, holding Constitutional posts such as President, Vice President, Judge of Supreme Court/High Court etc. Registered OCIs shall be entitled to following benefits:
(i) Multiple entry, multi-purpose life long visa to visit India;
(ii) Exemption from reporting to Police authorities for any length of stay in India; and
(iii) Parity with NRIs in financial, economic and educational fields, except in the acquisition of agricultural or plantation properties."