<aside> 📌 Permanent Residency Status (PRS) is a scheme introduced by the Indian government to attract foreign investors who wish to invest in the country under the Foreign Direct Investment (FDI) route.
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1️⃣ Initial Business Visa:
Upon committing to the investment, you will be granted an initial business visa for 18 to 36 months, depending on the investment amount.
2️⃣ Document Checklist:
To apply for PRS, you must submit several documents, including:
3️⃣ Security Clearance:
After submitting your application, it will undergo a clearance process by the Ministry of Home Affairs, which may involve input from security agencies.
4️⃣ Biometric Data:
You will need to provide biometric data at the FRRO/FRO during the application process.
5️⃣ Final Approval:
Once all requirements are met and your application is approved, you will receive your PRS card.
<aside> ⏳ **Validity and Renewal of PRS:
—**PRS is granted for a period of 10 years with multiple entry privileges.
—It can be renewed for another 10 years if the PRS holder has not come to adverse notice and continues to fulfil the investment and employment conditions.
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<aside> ⚠️ Caution! PRS can be revoked by the FRRO/FRO, subject to the recommendation of the Ministry of Home Affairs (MHA), in the following cases:
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| 1 | Failure to meet the conditions relating to investment and employment generation | | --- | --- | | 2 | Willful default as per guidelines issued by RBI or any other relevant law | | 3 | Declaration of unsound mind by a competent court | | 4 | Undischarged insolvency | | 5 | Conviction by a court of law for any offense | | 6 | Any other reasons that make the continued stay of the investor in India undesirable |
Check out our special comprehensive guide:
Obtaining Permanent Residency Status in India: A Comprehensive Guide for Expats - ExpatOrbit