OCI and PIO

T

todd2006

Registered Users (C)
Hi,

I will be getting by OCI sticker in 7 days. I wanted to know what is the basic difference between PIO and OCI
And can i get my PIO once i get my OCI

Also what are the benefits of a PIO over OCI

Thanks for all your help

TODD
 
the reason why i asked is because i wanted to buy a house in bombay so wanted to know if i can buy it when i get my OCI and what are the tax rules for it
 
I brought place in India.As long as your current Indian passport is valid.That all they need for sale.Mine is Valid for 8 more years.So I dont even mention my US stattus down there.;)
 
hi,

But my indian passport is cancelled. So i wont be able to do it.

On the earlier link the guy had emailed me it said i can invest in certain types of mutual funds how do i know what kind of mutual funds

todd
 
Indian passports must be surrendered.

dude4mrestonva said:
I brought place in India.As long as your current Indian passport is valid.That all they need for sale.Mine is Valid for 8 more years.So I dont even mention my US stattus down there.;)
Click to expand...

According to Indian law, an Indian citizen has to surrender the Indian passport if they acquire foreign citizenship. Here is the exact verbage from the warning message they stamp on the passport upon cancellation.

If holder acquires Nationality of another country, he/she should surrender this passport forthwith to the nearest Indian mission/post abroad. Unauthorized possession of this document shall constitute an offence punishable under the Indian Passport Act 1967.
Click to expand...

Therefore, it is illegal to hold on to or use Indian passport if an Indian citizen has already acquired foreign citizenship. Therefore, we should not advice people to not cancel their Indian passport if they have become foreign citizen or applying for OCI.

Consulates will stamp the following message on each page of the Indian passport :

"Passport Cancelled as acquired U.S. nationality"
 
I bought a flat in India as well, I wasn't asked to produce anything. In fact I did everything from the US.
 
Pump said:
According to Indian law, an Indian citizen has to surrender the Indian passport if they acquire foreign citizenship. Here is the exact verbage from the warning message they stamp on the passport upon cancellation.



Therefore, it is illegal to hold on to or use Indian passport if an Indian citizen has already acquired foreign citizenship. Therefore, we should not advice people to not cancel their Indian passport if they have become foreign citizen or applying for OCI.

Consulates will stamp the following message on each page of the Indian passport :

"Passport Cancelled as acquired U.S. nationality"
Click to expand...


Correction my friend Pump.No where did I mention to do anything illegal.I said as long as you have valid indian passport even if it is cancelled that is all needed to purchase flat in India.Mine says cancelled as well.But I was told in order to open bank account or buy propoerty in India.As long you can establish that you were Indian somtimes
 
dude4mrestonva said:
Correction my friend Pump.No where did I mention to do anything illegal.I said as long as you have valid indian passport even if it is cancelled that is all needed to purchase flat in India.Mine says cancelled as well.But I was told in order to open bank account or buy propoerty in India.As long you can establish that you were Indian somtimes
Click to expand...

Hi dude4mrestonva - all I am saying is that Indian citizens should surrender their Indian passports after they acquire foreign citizenship. After the Indian passport is cancelled, it is no longer valid and can not be used for travel or any other purposes. Your earlier post did not say that you used a "cancelled" indian passport to open a bank account.

You are fine if you already got your Indian passport cancelled. I am not sure what the procedure is for buying property in India. If anyone has any intention to do it, they should use the services of an Indian attorney to make sure that they do everything legally. Indian system is becoming more accountable these days. Hence, the chances of catching a fraudulent act is higher. I would imagine that if an Indian has acquired a foreign citizenship they have to disclose it in their transactions if they are required to do so.

I am not saying that you did anything illegal or suggested anything illegal. If I came across that way, then I stand corrected. My comment was made in a general sense. I was just quoting the verbage from passport act 1967.
 
Last edited by a moderator:
Agree-Also you keep saying surrender your Indian passport.When you send in your Indian passport to surrender.The Indian embassy folks dont take your passport away.They just cancell it and give it back to you.There is no such thing as surrender.Today in India they still want to see your indian relation.Could be PIO/OCI or pan card.If not they want to see your Indian passport.
 
dude4mrestonva said:
Agree-Also you keep saying surrender your Indian passport.When you send in your Indian passport to surrender.The Indian embassy folks dont take your passport away.They just cancell it and give it back to you.There is no such thing as surrender.Today in India they still want to see your indian relation.Could be PIO/OCI or pan card.If not they want to see your Indian passport.
Click to expand...

I am using the word "surrender" from the Passport Act 1967. It is straight fom the verbage they mark on the cancellation stamp on the cancelled Indian passport. You are right. They do not take away your Indian passport. They just mark it as "cancelled" and return it back to you.
 
You must log in or register to reply here.
Top