Non-Resident & Resident Indian & Person of Indian Origin (PIO)
- FEMA has not defined a Non-Resident Indian. Anyone who is not a resident is a non-resident.
- A person is a resident who resides in India for more than 182 days during the course of preceding financial year & does not include a person who has gone out of India for doing business/vacation.
- NRI is a person holding an Indian passport, who has gone abroad for a gainful employment, indicating an indefinite period to stay outside India.
- PIO is a foreigner (not being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Nepal, Bhutan & Iran) whose parents or grandparents were a citizen of India OR (b) a foreigner spouse of an Indian citizen.