Non-Resident Accounts can be opened and maintained by Person Resident outside India, Non-Resident Indians (NRI) and Persons of Indian Origin (PIO). Person Resident outside India means a person who is not resident in India. It also defined as a person who has gone out of India, or who stays outside India for the purpose of employment, carrying on business or vocation or for any other purpose under the circumstances indicating an uncertain period of stay. Person includes Individual, HUF, Firm, Company and Association.


Non-Resident Indian means a person resident outside India, who is a citizen of India or is a person of Indian Origin. Persons who visit India for temporary visit are treated as Non-Resident Indian. Students going abroad for studies are treated as Non-Resident Indians.


Person of Indian Origin: A Foreign Citizen (Other than citizen of Pakistan or Bangladesh) is deemed to be a person of Indian Origin if, he/she at any time held an Indian Passport or he/she or either of their Parents or Grand Parents was citizen of India by virtue of the constitution of India or Indian Citizen Act 1955 or he/she is a spouse of Indian Citizen or a person referred as above.

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