{"id":65311,"date":"2016-08-31T14:36:13","date_gmt":"2016-08-31T09:06:13","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=65311"},"modified":"2017-01-19T11:34:43","modified_gmt":"2017-01-19T06:04:43","slug":"cabinet-approves-grant-of-permanent-residency-status-to-foreign-investors","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/08\/31\/cabinet-approves-grant-of-permanent-residency-status-to-foreign-investors\/","title":{"rendered":"Cabinet approves grant of Permanent Residency Status to foreign investors"},"content":{"rendered":"<p style=\"text-align: justify;\">The Union Cabinet has approved the scheme for grant of Permanent Residency Status (PRS) to foreign investors subject to the relevant conditions as specified in the FDI Policy notified by the Government from time to time.<\/p>\n<p style=\"text-align: justify;\">The scheme is expected to encourage foreign investment in India and facilitate Make in India Programme. Under the Scheme, suitable provisions will be incorporated in the Visa Manual to provide for the grant of PRS to foreign investors. The PRS will be granted for a period of 10 years with multiple entry. This can be reviewed for another 10 years if the PRS holder has not come to adverse notice. The scheme will be applicable only to foreign investors fulfilling the prescribed eligibility conditions, his\/her spouse and dependents. In order to avail this scheme, the foreign investor will have to invest a minimum of Rs. 10 crores to be brought within 18 months or Rs.25 crores to be brought within 36 months. Further, the foreign investment should result in generating employment to at least 20 resident Indians every financial year.<\/p>\n<p style=\"text-align: justify;\">PRS holders will be allowed to purchase one residential property for dwelling purpose. The spouse\/ dependents of the PRS holder will be allowed to take up employment in private sector (in relaxation to salary stipulations for Employment Visa) and undertake studies in India.<\/p>\n<p style=\"text-align: right;\">Press Information Bureau<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet has approved the scheme for grant of Permanent Residency Status (PRS) to foreign investors subject to the relevant conditions <\/p>\n","protected":false},"author":3,"featured_media":56272,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-65311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - 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The revenue implication under the TPS arising from the Hon\u2019ble Supreme Curt\u2019s judgment is about Rs. 2700 crore. Benefit is being extended\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":260165,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/01\/15\/sebi-to-generate-registration-number-instead-of-nsdl-sebi-foreign-portfolio-investors-amendment-regulations-2022-notified\/","url_meta":{"origin":65311,"position":2},"title":"SEBI to generate registration number instead of NSDL: SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2022 notified","author":"Bhumika Indulia","date":"January 15, 2022","format":false,"excerpt":"On January 14, 2022, the Securities and Exchange Board of India notifies Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019. Key amendment: In the Securities and Exchange Board of India (Foreign\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-135.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":332790,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/10\/10\/p-notes-and-sebi-regulations-addressing-regulatory-arbitrage-whilst-managing-foreign-investments\/","url_meta":{"origin":65311,"position":3},"title":"P-Notes and SEBI Regulations: Addressing Regulatory Arbitrage Whilst Managing Foreign Investments","author":"Bhumika Indulia","date":"October 10, 2024","format":false,"excerpt":"by Aditya Kumar* and Samridhi Singh**","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"Managing Foreign Investments","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/10\/Managing-Foreign-Investments.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/10\/Managing-Foreign-Investments.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/10\/Managing-Foreign-Investments.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/10\/Managing-Foreign-Investments.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":323597,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/06\/05\/sebi-issues-master-circular-for-foreign-portfolio-investors-designated-depository-participants-and-eligible-foreign-investors\/","url_meta":{"origin":65311,"position":4},"title":"SEBI issues Master Circular to include all previous circulars related to Foreign Portfolio Investors, Designated Depository Participants, and Eligible Foreign Investors","author":"Editor","date":"June 5, 2024","format":false,"excerpt":"The issuance of this 2024 Master Circular rescinds 7 previous circulars related to Foreign Portfolio Investors, Designated Depository Participants, and Eligible Foreign Investors","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Securities and Exchange Board of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Securities-and-Exchange-Board-of-India.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":176384,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/16\/cabinet-approves-capital-investment-subsidy-industrial-units-located-north-eastern-region\/","url_meta":{"origin":65311,"position":5},"title":"Cabinet approves capital investment subsidy to industrial units located in North Eastern Region","author":"Saba","date":"December 16, 2017","format":false,"excerpt":"The Cabinet Committee on Economic Affairs has approved Capital Investment Subsidy amounting to Rs. 264.67 crore to four industrial units located in North Eastern Region (NER) including Sikkim under Central Capital Investment Subsidy Scheme (CCISS), 2007 of North East Industrial Investment and Promotion Policy (NEIIPP), 2007. 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