Permanent Residency Status (PRS) to foreign investors

Q.  Which of the following is/are true regarding Permanent Residency Status (PRS) to foreign investors?

1) PRS holders will be allowed to purchase multiple residential properties.
2) The spouse/ dependents of the PRS holder will be allowed to take up employment in private sector.
- Published on 06 Sep 16

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

ANSWER: Only 2
 
  • Permanent Residency Status will be granted for a period of 10 years initially with multiple entry facility, which can be renewed for another 10 years.
  • PRS will serve as a multiple entry visa without any stay stipulation and PRS holders will be exempted from the registration requirements.
  • 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.

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