What is the classification of NRI s? How do I know if I classify as NRI?
Non- Resident Indian means a person resident outside India who is a citizen of India or is a person of Indian origin Under the Foreign Exchange Management Act, 1999 [FEMA], a person who is NOT a person resident in India , as defined under Section 2 (v) of the Act is considered as a person resident outside India . The most important change in definition [since FERA 1973] is that the citizenship of a person no longer has a bearing in determination of residential status. E.g a citizen of India who is a residing in the US or other country under work permit would also be considered as an NRI Person of Indian Origin (PIO) means a citizen of any country other than Bangladesh or Pakistan, if he at any time held Indian passport; or he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955; or the person is a spouse of an Indian citizen or a person referred to in sub-clause [a] or [b] Investment by PIO in Ind
