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Who is a PIO?

Who is a PIO?

The definition of ‘Person of Indian Origin’ is defined under section 2 (b) of Foreign Exchange Management (borrowing and lending in rupees) Regulations, 2000 and under section 2 (xii) of Foreign Exchange Management (Deposit) Regulations, 2000 as given under:-

“Person of Indian Origin’ means a citizen of any country other than Bangladesh or Pakistan, if

  • He at any time held an Indian passport; or
  • He or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
  • The person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b)”

Person of Indian Origin (PIO) for the purpose of acquiring immovable property in India as given under:-
“Person of Indian origin’ means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who

  • At any time, held an Indian passport; or
  • Who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955)”