An NRI is a person resident outside India who is a citizen of India or is a person of Indian origin.
Under the Foreign Exchange Management Act (FEMA), generally a person is resident outside India if the person is in India for less than 182 days during the course of the preceding year and also includes any person who stays abroad for :
- Employment, or
- Carrying on any business or vocation, or
- Any other purpose, indicating an intention to stay outside India for an uncertain period.
- Education *
* Provided the student has stayed overseas for more than 182 days in the preceding Financial Year.