India Development News & Foreign Investment Opportunities

Business Visa relaxed to host foreign investors

PRS for investor of Rs.10 crore

0

PRS for investor of Rs.10 crore

CII

 

Various steps have been taken to relax Visa norms for business activities, Minister of State for Home Affairs Nityanand Rai told Rajya Sabha on 4 Dec 2019.

He listed the steps:

Grant of multiple entry electronic Business visa for a period of one year to nationals of 169 countries.

Grant of multiple entry Business visa for a period of 5 years as a default option to nationals of more than 160 countries.

Grant of multiple entry Business Visa with 10 years validity to nationals of the United States of America, Canada, Japan, United Kingdom (U.K.) and South Africa.

Grant of Permanent Residency Status (PRS) to foreign investors making investment of a minimum of Rs.10 crores within 18 months or Rs.25 crores within 36 months under Foreign Direct Investment (FDI) route and generating employment to at least 20 resident Indians in every financial year. PRS is granted for a period of 10 years with multiple entry which can be extended for another 10 years.

Permitting extension of Business visas within India up to 10 years as against 5 years permitted earlier.

Revising the period for achieving the gross sales/turnover target of Rs.1 crore per annum from 2 years to 4 years in respect of foreigners coming to establish an industrial/ business venture.

Other than these, the Visa procedure for obtaining medical treatment in India has also been relaxed. As per the revised procedure introduced by the Government in November 2018, a foreigner suffering from a minor medical condition which needs only OPD (Outpatient Department) consultation/treatment may take treatment at any hospital/treatment centre on his/her primary visa including Business visa.

Further, a foreign national who is already in India on any type of visa (including Business visa) is now allowed to take indoor treatment (other than for treatment of diseases which require organ transplant) in hospital/treatment centres etc up to a maximum period of 180 days without having to convert the primary visa into Medical Visa.

The indoor medical treatment may also cover treatment for diseases which the foreigner may have been suffering from even before his/her entry into India.

Conversion to Medical Visa will be required only if the period of treatment exceeds 180 days or the stay stipulation period, if any, stipulated on the primary visa or the duration of the primary visa, whichever is earlier, he said. fiinews.com

Leave A Reply

Your email address will not be published.