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| Home > Real Estate, Wills, Probate and Trust > Real Estate in India- An Attractive Venture For Non-Residents Indians. |
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| A Person of Indian Origin |
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A Person of Indian origin:
The expression PIO, finds mention in regulations formed under Foreign exchange Management Act, 1991. The expression PIO, for the purposes of real estate, means an individual who at any point of time held an Indian passport or who himself or whose father or grand father was the citizen of India by virtue of Constitution of India and/or Citizenship Act, 1955.
The citizens of Pakistan, Bangladesh, China, Sri Lanka, Afghanistan, Iran, Nepal, and Bhutan fall in the prohibited category. They will not qualify to be a PIO, despite the fact; they fulfill the qualifications mentioned above.
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