Just like former U.S. President Donald Trump’s ‘Gold Card,’ India also has a special scheme that offers residency and citizenship-like benefits in exchange for investment. This scheme is mainly designed for investors and entrepreneurs.
What Is India’s Golden Visa-Like Scheme?
India’s version of the Golden Visa is called the Permanent Residency Status (PRS) scheme. Under this scheme, foreign investors are allowed to stay in India permanently if they meet certain conditions.
Eligibility Criteria for This Scheme
If a foreign citizen wants to obtain PRS in India, they must:
Invest at least ₹10 crore in India.
Create at least 20 jobs for Indian citizens.
The investment can be made in Greenfield and Brownfield projects in India.
PRS is valid for 10 years, with the possibility of renewal.
Benefits of PRS in India
- Permission to stay in India for a long duration.
- Visa-free access to several facilities.
- A favorable environment for business and investment.
- Opportunity to contribute to the Indian economy.
How Do Other Countries Run Similar Schemes?
Apart from India, many countries offer Golden Visa or investment-based citizenship programs, such as:
- USA – EB-5 Visa Program.
- UK – Investor Visa Scheme.
- Portugal – Golden Visa Program.
- Dubai – Golden Visa Scheme|
Read More :
https://thefirstcritic.com/trumps-5-million-investor-visa-a-new-opportunity-for-indian-nationals/
FAQs
- What is India’s Golden Visa-like scheme?
India’s Permanent Residency Status (PRS) is an investment-based scheme that allows foreign investors to stay in India for an extended period. - How much investment is required for this scheme?
A minimum investment of ₹10 crore and the creation of 20 jobs are required. - What are the benefits of PRS in India?
It allows foreign investors to live and conduct business in India with ease. - Which countries offer similar schemes?
USA, UK, Portugal, and Dubai offer investment-based residency or citizenship programs.
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