NRI (Non-Resident Indian) is defined in the Foreign Exchange
Management Act (Acceptance of Deposits) Regulations, 2000, as any person who
satisfies any one or more of the following criteria:
• any Indian Citizen who stays abroad for employment/carrying on business
or vocation outside India or stays abroad under circumstances indicating an
indefinite period of stay outside India;
• any Indian citizen who is posted in organizations like the U.N, IMF,
World Bank, etc;
• any Indian citizen who is an official deputed abroad by Central/State
Governments and Public Sector undertakings on temporary assignments;
• any person resident outside India who is a citizen of India or is a
“person of Indian origin”.
A foreign citizen (other than a citizen of Pakistan or Bangladesh ) is deemed to
be a “Person of Indian origin”, if:
-
he, at any time, held an Indian passport, or
-
he or either of his parents or any of his grand parents was a citizen of India
by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955);
or
-
he is a spouse of an Indian citizen or a person referred to in (i) and (ii)
above.
