The union cabinet of india has decided to give the residency status to foreigners if they invest Rs 10 crore within 1.5 years or Rs 25 crore witin 3 years
This step has been taken to make India a more attractive investment destination and promoting Make in India programme.
Countries like the United States, Canada and UK already have policy which grant permanent residency in return for investment.
This policy will allow multiple entries to visitors for 10 years, the residency status can be extended by 10 more years if the holder does not receive adverse notice.
During this time, investors will be allowed to buy one residential property and their spouses and children would be allowed to work or study in India. However, the scheme is not valid for Pakistani and Chinese citizens.