Who is a non-resident Indian (NRI)?
“Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India or is a person of Indian origin.
The following are the main three categories of NRIs:-
- Indian citizens who stay abroad for employment or for carrying on a business or vocation or any other purpose in circumstances indicating an indefinite period of stay abroad.
- Indian citizens working abroad on assignment with foreign government agencies like United Nations Organization (UNO), including its affiliates, International Monetary Fund (IMF), World Bank etc.
Officials of Central and State Government and Public Sector undertaking deputed abroad on temporary assignments or posted to their offices, including Indian diplomat missions, abroad.
Who is a person of Indian Origin?
For the purposes of availing of the facilities of opening and maintenance of bank accounts and investments in shares/securities in India
- Person of Indian origin means a citizen of any country other than Pakistan or Bangladesh
he at any time, held an Indian passport
he or either of his parents for any of his grand parents was a citizen of India by virtue of the constitution of India or Citizenship Act, 1955 (57 of 1995)
the person is a spouse of an Indian citizen or a person referred to in clause (a) or (b)
For investments in immovable properties;
Person of Indian origin means an individual (not being a citizen of Pakistan or Bangladesh or Afghanistan or Bhutan or Sri Lanka or Nepal or China or Iran)who at any time, held an Indian passport or who or either of whose father or whose grandfather was a citizen of India by virtue of the Construction of India or the Citizenship Act, 1955 (57 of 1955)