Demat Account is a part of the trading account which NRI opens to trade in the Indian stock market online. Demat Accounts are used to hold the shares in electronic form.     As of now no bank offers to open a demat account online. But you can access the bank websites and third party […]

Investment in the unlisted private limited companies in India by an NRI comes under Foreign Direct Investment (FDI). Therefore, there’s no need for a PIS Account as it is required for investments in the secondary market. You can use your NRE or NRO Account for such investments.   NRIs can invest in unlisted companies either […]

Yes. An NRI can have multiple demat accounts. The usage of these multiple demat accounts can be understood under the concepts of: Repatriation: NRIs must have separate demat accounts for repatriable (NRE) and non-repatriable (NRO) shares which means if you invest through your NRE account, the money you receive after selling the shares/stocks is completely […]

Latest FCNR Deposit Interest Rates (USD) September 2021   What is an FCNR Account? A Foreign Currency Non-Resident (FCNR) Account is a term deposit account in India for an NRI. It can be maintained in foreign currencies such as USD, GBP, EUR, etc. for a fixed tenure ranging from 1 to 5 years. The interest […]

Latest NRE FD and NRI Savings Account Interest Rates September 2021   Banks Savings Account Rates Tax-Free NRE FD Interest Rates Federal 2.50% 5.10% to 5.60% SBI 2.70% 5.00% to 5.55%* Citibank 2.50% 2.75% to 3.67% Bank of Baroda 2.75% 4.90% to 5.25% Canara Bank 2.90% 5.20% to 5.50% Indian Bank 2.90% 5.00% to 5.15% […]

NRI Status 2020: NRI status can be attained by an Indian Citizen if he/she stays overseas for more than 182 days in a financial year.     Calculating your NRI Status 2020 To calculate the number of days and your NRI status 2020 or for previous assessment years, you can visit the Indian Income Tax […]

There are no direct provisions to change citizenship in a Pan Card as the PAN Card doesn’t display your citizenship. It is a document required to file taxes, carry out investments and do transactions in India whether you are a citizen, NRI or OCI.     However, you can apply for a new PAN Card […]

There is only one Pan Card that is issued to all Indians. It doesn’t matter if they are a Resident or a Non Resident Indian (NRI). The term “NRI Pan Card” has just been coined by people to differentiate between the Pan Cards issued to Indian Residents and NRIs.   Can NRIs have a PAN […]

No. There are no taxes on money transferred from India to the US in India.   Avoid Double Taxes on money transferred from India to the US However, In order to avoid tax implications in the USA, you need to declare the source of income in the US. NRIs in the USA must consult their […]

There are multiple mediums to send money from abroad to India. Refer the table below and choose the best suited medium for yourself.     *Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of funds using either their internal system or using their collaborations […]