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NRI : Non Resident Indians : A NRI is an Indian citizen who has migrated from India to another country. For official purpose the government of India considers any Indian national away from India for more than 183 days in a year an NRI. In common usage, this even includes Indian born individuals and also people of other nations with Indian origin who have taken the citizenship of other countries. A Person of Indian Origin (PIO) is literally, simply a person of Indian origin who is not a citizen of India. Persons Posted in U.N. organisations and official deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents.
India's Prime Minister Dr. Manmohan Singh announced dual citizenship to all overseas Indians who have been living outside the country since January 26, 1950. This was announced at the inauguration of the 3rd Pravasi Bharatiya Divas in Mumbai on January 7, 2005. NRI world and media positively welcomed this news.
OCB : Overseas Corporate Bodies (OCBs) are bodies predominantly owned by individuals of Indian nationality or origin resident outside India and include overseas companies, partnership firms, societies and other corporate bodies which are owned, directly or indirectly, to the extent of atleast 60% by individuals of Indian nationality or origin resident outside India as also overseas trusts in which atleast 60% of the beneficial interest is irrevocable held by such persons..
H1B workers are legally required to pay the same taxes as any other US resident, including Social Security and Medicare.
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