(a) whether the Government has approved any scheme to grant permanent residency status to all foreign investors;
(b) if so, the details thereof and the guidelines laid down in this regard;
(c) whether the Government has taken any steps to expedite the grant of security clearances for foreign investors; and
(d) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF HOME AFFAIRS
(SHRI KIREN RIJIJU)
(a) to (d): The Government has decided to grant Permanent residency Status (PRS) for 10 years with multiple entry to foreign investors making investment of minimum of Rs.10 crores to be brought within 18 months or Rs.25 crores to be brought within 36 months. PRS will also be granted to the spouse/dependents of the eligible foreign investor. The foreign investment should result in generating employment to at least 20 resident Indians every financial year. This scheme will not be applicable to Pakistani citizens or third country nationals of Pakistani origin. Foreign investors fulfilling the eligibility conditions will have to apply for PRS online and security clearance will be processed on the online system.
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