Foreigners Bringing FDI May Get Residency Permit: Govt

Foreigners who bring FDI may get long term visa or residency permit as the option is being explored by the government to make travel easy for businessmen as part of the 'Make In India' campaign.

The Finance Ministry and the Home Ministry's foreigners division are deliberating whether India can offer long term visa or residency permit as a token of gesture to foreign businessmen who invest in the country, media reports said.

Foreigners Bringing FDI May Get Residency Permit: Govt
If the proposal is implemented, it would be part of the Narendra Modi's 'Make In India' campaign to attract foreign direct investment.

Various provisions of the Foreigners Act are being examined and discussions are also on whether to bring an amendment to the existing rules, media reports said.

The facilities which may be offered to such investors are still being explored, but they would definitely get enhanced facilities and hassle-free entry to India as well as domestic travel, media reports said.

As of now, business travellers are not required to get themselves registered with the Foreigners Regional Registration Officer (FRRO)/ Foreigners Registration Officer (FRO) concerned if they have entered India on a long term visa provided their continuous stay in India does not exceed 180 days.

But if they stay for more than 180 days, he/she should get himself/ herself registered well before the expiry of 180 days from the date of arrival with the FRRO/FRO concerned.

There may be some modification of this rule and the foreign investors would not be required to visit FRRO even if the stay period crosses 180 days, media reports said.

As per the existing rules, all foreigners (including foreigners of Indian origin) visiting India on long term (more than 180 days) Student Visa, Medical Visa, Research Visa and Employment Visa are required to get themselves registered with the FRRO/ FRO concerned having jurisdiction over the place where the foreigner intends to stay, within 14 days of arrival.

However, Pakistan nationals are required to register within 24 hours of their arrival. All Afghan nationals are required to register with the FRRO/FRO concerned within 14 days of arrival except those Afghan nationals who enter India on a visa valid for 30 days or less provided the Afghan national concerned gives his/her local address in India to the Indian Mission/FRRO/FRO.

Read more about: fdi
Story first published: Wednesday, February 24, 2016, 12:50 [IST]
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