Permanent Residency Status (PRS) to foreign investors

Q.  Which of the following is/are true?

1) The Union Cabinet has approved the scheme for grant of Permanent Residency Status (PRS) to foreign investors.
2) The PRS will be granted for a period of 10 years with multiple entry.
- Published on 02 Sep 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Both 1 and 2
 
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.
  • 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.

Related Content

➨ Post your comment / Share knowledge


Enter the code shown above:

(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)
▲