NRI full form is Non-Resident Indian. A Non-Resident Indian is someone who does not live in India but resides outside the country for 182 days in a financial year. NRIs are people who are born in India but who are not residents of the country; they can be citizens of the country, overseas citizens of India, or descendent of India living outside India. With roughly 30 million NRIs living across the world, India is the country with the second-largest bucket of NRIs, only after China. There are many Indian NRIs that have made contributed significant changes to different countries while maintaining their strong roots in their native country.
Categorisation of NRIs
So who are NRIs? How are they categorised? NRIs can be categorised into three principal classifications. These are mentioned below.
- First are representatives of the central and state governments, or public sector employees who are living overseas.
- NRIs are also classified as Indian civilians who are working in IMF and World Bank, etc.
- Overseas citizens of India (OCI) who are Indian by their birth but live abroad.
The criteria for NRIs are mentioned below before they proceed with the legal formalities:
- It is essential to hold an Indian passport.
- NRIs also need to hold Indian citizenship as per the Act of Citizenship, 1955.
- Moreover, your spouse is to be an Indian citizen or someone who meets the aforementioned criteria.
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