The concept of Person of Indian Origin is often misunderstood by most people. Sometimes, people also tend to confuse it with Overseas Citizen of India as well.
In this article, let us take an understanding of the Person of Indian Origin and all other important aspects related to it.
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The Person of Indian Origin means that a foreign citizen except the national of Afghanistan, China, Nepal Bangladesh, Pakistan, Bhutan, Iran, and Sri Lanka who at any point in time held the passport of India.
Next, anyone whose either of the great grandparents/ grandparents or parents were born and resided permanently in India as defined under 1935, Government of India Act. Moreover, any other territories, which became a part of India and after that was never a citizen of any aforesaid countries as mentioned above. Also, anyone who is the spouse of an Indian citizen or a PIO.
The following are the key benefits of the Person of Indian Origin card:
All the future benefits that will be exempted from NRIs’ will be available to the Person of Indian Origin cardholders. The PIOs do not enjoy any of the employment rights in the Indian government services nor can hold a constitutional office in the Indian government. They would require permission to undertake missionary activities, mountaineering, research work or to visit any restricted areas in the nation.
To begin with, the simple instruction for the PIO card application is to duly complete the form. The relevant documents need to be put forward in person at the High Commission between 0930 hrs and 1200 hrs on any of the business day.
The following are the documents that need to be submitted with the filled-in PIO form:
In case the applicant is the spouse of the Person of Indian Origin should submit the following:
Let us have a look at the table below to understand the key differences between OCI card and PIO card:
Lifelong after the date of issuance
15 years from the issuance date
Obtaining Citizenship of India
After 5 years of the issuance of OCI, then one can apply after residing in India for one year minimum
Can easily apply after regularly residing in India for 7 years
US$ 25 for the PIO cardholders
US$ 25 for the miscellaneous services such as the passport change, etc.
Visit to the Restricted Area
Permission is not required
Prior permission is required
Registration at FRO/FFRO
Not required regardless of the stay period
After 180 days it needs to be updated, for which an extra 30 days are provided
For anyone who is living in a foreign country and has roots in India, the residency status is either as the NRI, OCI or PIO. It is important to understand the differences between all these three.
Any individual of Indian origin and now staying in a foreign land can apply for the PIO card easily.
Past 10 Year annualised returns as on 01-02-2024
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
Tax benefit is subject to changes in tax laws. Standard T&C Apply
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
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