Yes. An NRI from USA can invest in Mutual Funds in India using their NRE/NRO accounts.   In order to invest in Mutual Funds, NRIs must be registered with a Registered Transfer Agents (RTAs). These RTAs maintain a detailed record of Mutual Fund Investors. There are a number of wealth management services and digital platforms […]

You can send money from India to UK from either of your NRI Accounts. The taxes on sending money from India to UK depends on the type of account chosen.   Taxes on sending money from India to UK based on the account chosen: NRE: The NRE account can be opened for the purpose of […]

NRI Status 2023: NRI status can be attained by an Indian Citizen if he/she stays overseas for more than 182 days in a financial year. However, new rules for NRI taxation in India are introduced to determine the residential status of an individual during that financial year.      Calculating your NRI Status 2023 To […]

Overseas address in NRI account opening form: Is it mandatory? Yes. It is mandatory to mention overseas address in NRI account opening form because the verification of an overseas address makes it easy for the banks to verify your NRI Status and update an overseas communication address to smoothen the account opening process.     […]

No, NRIs cannot deposit rupee in an NRE account because NRE Accounts are used to maintain the income earned in a foreign currency outside India.   Permissible Credits in the NRE Account There are certain permissible credits in an NRE Account, which are: Inward remittance from outside India  Interest earned on the money deposited in […]

The benefits of opening an NRI Account are as follows: An NRI (Non-Resident Indian) account is a bank account designed specifically for Indians living abroad. There are several benefits of an NRI account, including: Easy repatriation of funds: NRI accounts allow easy transfer of funds to and from India. This makes it easier for NRIs […]

NRIs can invest in Indian Stock Market by buying stocks listed on the National Stock Exchange of India Ltd. (NSE). To be eligible to invest into stocks, NRIs need to have a PIS Account under the Portfolio Investment Scheme* (PIS) that will allow them to trade stocks. *(Portfolio Investment Scheme (PIS): Through this scheme of […]

Yes, the repatriation of funds in the NRE Account can be done easily. Funds in the NRE accounts of NRIs (both principal amount and the interest earned on the deposit) are fully and freely repatriable outside India.   What is Repatriation? Repatriation refers to the transfer of funds (both principal amount and the interest earned […]

Yes. NRIs can repatriate the balance in their NRO account (only current income such as rent & pension and other income where taxes are not deducted at source).   Although, the funds are not freely repatriable. The Reserve Bank of India (RBI) allows NRIs to remit up to USD 1 million per financial year from […]

Yes. Funds in FCNR deposits (both principal amount and the interest earned on the deposit) are fully and freely repatriable outside India. The FCNR Deposit lets you earn tax-free interest on most of the major globally tradable foreign currencies such as USD, GBP, EUR, JPY, AUD, CAD, SGD, HKD, and others.   What is Repatriation? […]