Hi all. Could someone please shed some light into the following:
UAE based with UAE tax residency, Indian Citizenship. Assets in India worth 7 figures (farm land). I know that Indians when they obtain a second passport, they can renounce their Indian Citizenship and receive OCI. Does anyone know and can comment on whether you can hold assets in India with OCI?
Could you in this case, obtain a second passport, renounce Indian Citizenship, and own the farm land in India via a an offshore trust formed in an offshore jursdiction?
UAE based with UAE tax residency, Indian Citizenship. Assets in India worth 7 figures (farm land). I know that Indians when they obtain a second passport, they can renounce their Indian Citizenship and receive OCI. Does anyone know and can comment on whether you can hold assets in India with OCI?
Could you in this case, obtain a second passport, renounce Indian Citizenship, and own the farm land in India via a an offshore trust formed in an offshore jursdiction?