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OCI validity/cons?

Posted: Sun Aug 24, 2014 9:23 pm
by everfor
Due to more travel in my job, i am willing to apply the naturalisation, after few years i have plans return back to india.
In my mind,i have following below queries, appreciate if you anybody can reply it

How long OCI will be valid?
In case if i stayed back permanently in india, can i give up brit citizenship and take back the Indian citizenship? How easy it is to get back indian citizenship?
will oci can be renewed from india?
Currently i am holding commercial property/bank accounts and getting the rents/interest from them. After getting naturalisation, should i keep as it is? How Taxation should i pay to indian gov?

Thanks in advance

Re: OCI validity/cons?

Posted: Sun Aug 24, 2014 10:31 pm
by akash08
Oci is valid for life time and hence there is nothing called oci renewal.

Stay in india for 5 years and you are indian citizen again.

Financial status is exactly same as NRI. i guess since you are eligible for naturalisation, you already atleast have a Nri status and all that continues. Many people illegally maintain resident account even after being NRI and in that case it is a change. However if you are already having NRE or NRO account, nothing changes.

taxation rule is also exactly the same as now. For all purpose, a OCI holder is treated as an NRI except that you can not own farm land in India and you can not get a government job.