An Indian Citizen who stays abroad for employment/carrying on a business or vocation outside India, or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. Non-resident foreign citizens of Indian Origin are treated on par with non- resident Indian citizen (NRIs).
Person can have Indian origin, if,
- He/she, at any time, held an Indian passport, or
- Parents or any of his grandparents hold Indian citizenship
An NRI can make the following investments in India.
- Maintain bank accounts in India.
- Invest in securities/shares, and deposits with Indian firms/companies
- Invest in immovable properties in India.
You must be familiar with terms like NRE account, NRO account, NRE account, NRO account, SBI NRI account, ICICI NRI Account, HDFC NRI Account. Yet, it is likely that you are still confused on how to invest money in India. This article explains the type of bank accounts available for NRIs.