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NRIs/PIOs get passport for PAN
October, 28th 2006
The Securities and Exchange Board of India (Sebi) today said Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can obtain the Income Tax Departments Permanent Account Number (PAN), in a move to facilitate citizens residing outside India to conduct transactions on the Indian stock markets. 
 
NRIs/PIOs can obtain PAN cards based on the copy of their passport as ID proof and copy of passport/copy of bank account in the country of residence as address proof, Sebi said, quoting a circular issued by the Central Board of Direct Taxes (CBDT). 
 
Earlier, NRIs/PIOs were allowed to apply for PAN only if they have residential address in the country.
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