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Invest Rs 10 cr, be a permanent resident of India

Finance Minister Arun Jaitley had revealed the proposal for long-term residency in February, without providing details

Foreign investors make a strong comeback

The Cabinet on Wednesday approved a  scheme allowing foreigners to settle in the country if they bring significant investment. High net worth foreigners will get Permanent Residency Status (PRS) if they invest a minimum of Rs 10 crore within 18 months or Rs 25 crore within 36 months. Granted first for 10 years, with multiple entry, the PRS can be extended for another 10 years. "The scheme will be applicable only to foreign investors fulfiling the prescribed eligibility conditions, his/her spouse and dependents," went a Cabinet statement. Also, PRS holders will be ...