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All about PAN

The Permanent Account Number popularly called by the name of PAN was introduced by the Indian Income Tax Department. This is a unique ten-digit alphanumeric identity which is given to every tax-paying firm or individuals for facilitating the easy payment of taxes, raising loans, assessments, tax demands, tax arrears etc. This also includes the PAN card application for foreign nationals who are also interested to start a business or invest in any business in India.


The PAN card can be applied online for the ease of people. This national identification number keeps a check on all the financial transactions of each and every individual. Thus this PAN helps in looking after the Tax Invasion and can also be used as an ID proof. This PAN is also accepted in the form of a photo ID proof amonGST all government and non-government firms.


Who needs to apply for PAN

The following people have to apply for PAN:

If the total income exceeds the maximum amount not chargeable to the tax of an individual.

Individual along with the Agent who has to pay service tax

A person who has to file a return of the income

Each importer and/or exporter who would require the import-export code.

Each importer and/or exporter who wants to register as a manufacturer, trader, service provider, etc. in India.

If the person is a business person or is in a profession where the gross exceeds the threshold limit of the year


Requirements for foreign nationals

For a foreign national the following documents have to be submitted to the Indian Embassy in their Home country:

Their passport

The Person of Indian Origin card which has been issued by the government of India

The Overseas Citizen of India card which has been issued by the government of India

Their Driving license

A registration certificate which has been issued by the foreigner’s registration office. The certificate must show an Indian address

The visa granted along with the appointment letter or contract from the Indian Company. In addition, the original certificate of Indian address which is issued by the employer also has to be shown.

A bank account statement of the residence country

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FAQ - Frequently asked questions

Can the PAN card be issued to foreigners?

Foreign individuals who intend to do any financial transactions in India has to apply for PAN card by submitting valid ID and address proof along with the date of birth proof.

Is PAN compulsory for a non-resident?

PAN should not be mandatory in the case of non-residents where adequate taxes have been deducted

Can NRI invest in shares of a private limited company?

NRI is allowed to invest in accordance with the policy laid down by the RBI.

Can NRI give loan to Indian company?

Yes, the Indian company can borrow under the Automatic Route (no requirement of RBI approval) for a loan up to USD 500 million. he NRI can give a loan on non-repatriation basis.

What is Foreign direct investment?

Foreign direct investment (FDI) is an investment in a business by an investor from another country for which the foreign investor has control over the company purchased. It is a type of investment that involves the injection of foreign funds into an enterprise that operates in a different country of origin from the investor

How can an Indian company receive foreign investment?

The routes under which foreign investment can be made is as under: 1. Automatic Route- Under the Automatic Route, the foreign investor or the Indian company does not require any prior approval from the Reserve Bank or Government of India for the investment. 2. Government Route- Under the Government Route the foreign investor or the Indian company should obtain prior approval of the Government of India(Foreign Investment Promotion Board (FIPB).