India Considers $1.5 Million Residence Visa to Bring in Investment
India is planning to compete with Singapore and Hong Kong for foreign entrepreneurs by offering residence in return for investment. Foreigners investing 100 million rupees ($1.5 million) over 18 months, or 250 million rupees over three years, would be eligible to live in India for 10 years.
“Foreigners investing 100 million rupees ($1.5 million) over 18 months, or 250 million rupees over three years, would be eligible to live in India for 10 years.”
Investors coming from overseas would be allowed to buy one residential property, and spouses and children would be able to work or study, according to the statement. The money brought in should create at least 20 jobs for resident Indians each financial year. However, the nation ranks 130 of 189 economies in the World Bank’s Ease of Doing Business index for 2016. That’s up four places from a year ago but still much lower than Asian centers such as Singapore and Hong Kong, which have long offered investor visa options.
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