Welcome to the myiris exclusive information kiosk for Non Resident Indians. You will find here complete information on investment opportunities, special schemes available for NRIs, tax issues and snippets of news around the world of NRIs.
 
Am I a non-resident Indian?  
I am a foreign citizen but my roots are in India�.
A foreign citizen will be regarded as a Person of Indian Origin (PIO) if he at any time held an Indian passport or if his parents or grand parents are citizens of India, as defined in the Constitution of India.
Indian citizens who stay abroad for employment or for carrying on any business or vocation or for any other purpose in circumstances indicating an indefinite period of stay outside India.
Indian citizens working abroad on assignments with foreign Governments, Government agencies or international/multinational agencies like United Nations Organisation (UNO), International Monetary Fund (IMF), World Bank etc.
Officials of Central and State Governments and public sector undertaking deputed abroad on assignments with foreign Government/agencies/organisations or posted to their own offices (including Diplomatic Missions) abroad.
  


I am an NRI, can I maintain a bank account in India?  
Types of Bank Accounts
Non-resident (External) Rupee Accounts (NRE) Ordinary non-resident Rupee Account (NRO)
Non-resident (non-repatriable) Rupee Deposit Account (NRNR)
Foreign Currency Accounts (FCNR)
Resident Foreign Currency Accounts (RFC)
You can maintain an account with banks that are authorised dealers (i.e., those who can deal in foreign exchange) and those which have been authorised in this behalf by the Reserve Bank of India. You can maintain accounts in rupees as well as foreign currency. Foreign currency accounts can be maintained with authorised dealers only. Click here for more information on bank accounts.  


I want to invest in India; what are the possibilities?
For NRIs/ PIOs/ OCBs there are broadly two categories of investments - repatriable (investments than can be taken back) and non-repatriable (investments that cannot be redeemed). Repatriable investments allow for investment upto 100% equity by NRIs in specified industries and also cover portfolio investments. Equity investment upto 100% is also permissible for non-repatriable investments. Click here for a complete list of investment avenues available to NRIs.


I want to return to India..  
News for NRIs
Subsidies to returning NRIs from Germany -The DEG - German Investment and Development Company grants project-tied funding and consolidation subsidies. Click here for details.
Welcome back! There are many facilities available to returning NRIs that will safeguard your investment interests. Returning Indians, who return to India after a continuous stay abroad of one year and above, can retain their foreign currency bank accounts abroad and hold, transfer or dispose of their other foreign currency assets. These funds/ assets should have been earned through employment, business or vocation outside India taken up or commenced while they were resident outside India. No permission is required from RBI as long as conditions of general exemption are satisfied. NRIs can enjoy complete freedom with utilisation of these assets. Click here to see all the facilities available to returning Indians. NRIs can also repatriate these assets and maintain these in India with a separate identity. Click here for details on resident foreign currency accounts.