Who all are included in normal resident of a country?

Normal Resident of a Country: A resident is said to be a person (or institution) who ordinarily resides in a country and whose centre of economic interest lies in that country. He is called a normal resident since he normally lives in the country of his economic interest. The period of stay should be at least one year or more. Thus,
(i) staying for more than a year and
(ii) having economic interest [e.g. earning, spending, accumulation) are the two normal conditions for becoming a normal resident.


 

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