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 […]

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? […]

Online Mutual Fund KYC for NRI is a seamless online process through which NRIs can easily complete their KYC requirements for Mutual Funds by submitting the documents online and verifying them through In-Person Verification (IPV). Mutual Fund KYC through SBNRI App NRIs/ OCIs can download the SBNRI app to complete the KYC process seamlessly and […]

A SIP or Systematic Investment Plan is a payment of a fixed amount made at regular intervals for any investment opportunity such as Mutual Funds, trading accounts etc. NRIs are eligible to invest in SIP in India.     Is SIP Tax-Free in India? SIP is not tax free for NRIs. Different types of Mutual […]