Home Banking NRI Banking Who is not an NRI?

Who is not an NRI?

189
4
SHARE
Who is not an NRI

Who is not a Non Resident Indian ? Who is not an NRI?

Indians who go abroad for either of the following purposes Tourism Undertaking business promotion. To receive training Obtaining medical treatment. Participating in sports or cultural activities.

Indians or persons of Indian Origin [PIO]

Residing in Nepal/Bhutan/Pakistan/Bangladesh. Crew members working for Shipping/Airlines Companies posted in India and those companies whose registered offices are in India.

Definition of NRI:

Regulation 2(vi) of FEMA 5Person resident outside India, who is a citizen of India or is a person of Indian origin Indian citizens working abroad on assignment with Foreign Governments, Govt. agencies or in UNO and its affiliates IMF, IBRD etc. and Govt. officials (both central and state) and other officials of PSU’s deputed abroad on assignments or posted abroad including Diplomatic Missions are non-resident Indians.

Non-resident foreign citizens of Indian origin

Non-resident foreign citizens of Indian origin are treated on par with NRI citizens for the purpose of certain facilities.

Source : Reserve Bank of India

Who is a Non Resident Indian

An Indian citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a Non-Resident.

Persons posted in UN organisations

Persons posted in UN organisations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as Non-Residents). Non-Resident foreign citizens of Indian origin are treated on par with Non-Resident Indian citizens (NRI’s).

Source : Reserve Bank of India

Recommended Read :

4 COMMENTS

  1. If you are staying in a foreign country it doesn’t imply that you are an NRI. If you are staying abroad while being posted in India or your company’s registered office is in India, you are an ordinary Indian citizen, and not an NRI. An NRI is one who stays abroad with an intention for an uncertain duration for purpose of employment, business, or any other opportunity. Those who visit abroad for certain duration gets work visa or tourist visa.

  2. It might sound funny but it is true that many people claim themselves to be NRI for reasons known to them. They feel it is a status symbol to claim oneself as a NRI. Before you start believing that an individual is an NRI, try to figure out as to why they have been staying in a foreign country. Once you know the actual reasons you will be able to decide whether or not they are NRIs.

  3. So true in reference to the article as people living ouside their own country are not NRIs. But we all have confusions on this issue. But here comes the solution in he form of this article ,which very simply and clearly clarifies this confusion. After reading this article now i can clearly figure out the difference between a NRI ans not a NRI.

  4. Non resident Indians are those individuals who do not reside in India and are staying outside the country for various purposes like employment or business. Then what are those people who stay outside the country for purpose of medical treatment when the duration is long or for studies and research?

Comments are closed.