For purposes of investments in shares/securities in India and opening and maintaining a bank account, a foreign citizen is considered to be of Indian origin, if:
- He has at any time held an Indian passport, or
- As per the Citizenship Act, 1955 (57 of 1955), he or any of his parents or any of his grandparents was an Indian citizen.
Note: Spouses of persons of Indian origin and of Indian citizens, who are not citizens of Bangladesh or Pakistan, are also treated as persons of Indian origin if they open bank accounts or invest in shares/securities just with their NRI spouses.
Whenever a foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka, or Nepal) invests in immovable properties, he is deemed to be of Indian origin if he holds an Indian passport at any time, or - he or his father or his grandfather was a citizen of India under the Constitution of India or under the Citizenship Act, 1955 (57 of 1955).