The full form of NRI is Non-Resident Indian. A citizen of Indian descent who has immigrated to another nation is known as an NRI. The move may be necessary for employment, academic study, residential needs, or any other cause. They are all Indian nationals who reside abroad. According to the Ministry of Overseas Indian Affairs, India has the second-largest population of NRIs worldwide after China.
Those who spend more than 182 days outside of India in a year are referred to as NRIs. For someone in this situation, income taxes are special. An NRI needs to be a citizen of India and have an Indian passport. NRIs are sometimes known as expatriates or Overseas Indians.
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Different types of NRIs
The three main NRI classes are listed below:
- Public sector workers and members of the central or state governments reside abroad.
- Indian citizens work abroad for organisations like the World Bank, the United Nations, the International Monetary Fund, and others.
- Residents of India are going abroad for work, school, holiday, or to run a business.