Common parlance defines an NRI as an individual who stays in India below 182 days. The Section 6 of the Income Tax Act defines NON-RESIDENT INDIAN as an individual who does not satisfy the first 3 categories as mentioned in the list below of Residential Statuses of an Indian Individual:

1. Ordinary Resident in India
2. Resident but Not Ordinarily Resident (NOR)
3. Deemed Resident
4. Non-Resident

NRIs hold assets differently and require specialised services which need to carefully managed covering Taxation, Gold, Real Estate, Financial Assets, Estate Planning, Currency risk etc