News
Overseas Citizenship of India (OCI) Cardholder
The Constitution of India does not allow holding Indian citizenship and Citizenship of a foreign country simultaneously. Based on the recommendation of the High Level committee on Indian Diaspora, the Government of India decided to register Persons of Indian Origin (PIOs) of certain category as has been specified in the Section 7A of the Citizenship Act, 1955 as Overseas Citizenship of India (OCI) Cardholder
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Liberalized Remittance Scheme (LRS)
Under the Liberalised Remittance Scheme, banks may freely allow remittances by resident individuals up to USD 2,50,000 per Financial Year (April to March) for any permitted current or capital account transaction or a combination of both. The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc.
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Which countries allow Dual Citizenship and which don’t?
While more and more countries are allowing dual citizenship, several dual citizenship countries are beginning to crack down on their citizens with multiple nationalities.
And, of course, there are countries where dual citizenship is strictly forbidden. This list is updated for 2017 and takes into account several European countries which are taking on the prevailing trend of more liberal policies toward people holding multiple citizenships.
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