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Equity General FAQ

 
Who is NRI ?
NRI is an Indian Citizen who stays outside India for following reasons;
  • For taking up employment
  • For carrying on business or vocation
  • Gone on immigration
  • For any other purpose where intention to stay abroad is indefinite Indian citizens employed with international agencies like UNO, IMF, UNESCO, WHO etc. Indian Citizens employed in Govt. & Semi Govt. Organizations and posted on deputation abroad. An NRI is an Indian citizen who stays outside India.
Who is a PIO – Person of Indian Origin?

A Foreign Citizen (not being a citizen of Pakistan and Bangladesh) is deemed to be of Indian origin if: He or she, at any time, has held Indian passport, or He or she or either of his or her parents, or grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955. A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a person of Indian origin is also treated as a person of Indian origin for the above purposes provided the bank accounts are opened or investments in shares or securities in India are made by such persons only jointly, with their NRI spouses.
 
 
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