Merger and Acquisition Advisory Services

As per recent changes in the month of march ,2018 ,the definition of nri changed . Nri means a person resident outside india ,who is citizen of india . Earlier who is foreign citizen but indian origin was also considered as nri . In view of changing in the definition ,now indian origin but holding foreign citizenship has to secured overseas citizen of india card to qualify as nri . By securing oci card under section 7(a) of citizen act 1955 , foreign citizen of indian origin becomes non resident indian . Earlier without holding oci card merely showing documents of roots of indian origin were considered as sufficient proof to establish as nri . This compels foreign citizen of indian origin to secured oci card and claim eligibility for permissible investment under nri category . Merely holding indian visa is not sufficient to qualify as nri.

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IFSCA-GIFT CITY INQUIRY