NRIs returning to India

NRIs returning home are permitted by the RBI to hold bank accounts abroad and bank accounts in India. All the rules and regulations of FEMA, as are applicable to the person resident in India would be applicable to an NRI except that he will continue to enjoy various facilities such as maintaining his foreign securities, currency, properties situated abroad or maintaining and operating Resident Foreign Currency (FRC) Account in India.



NRIs returning to India for permanent stay are permitted to open hold and maintain a RFC account in India to keep their:

Foreign currency assets acquired, owned and held outside India

Gift or inheritance from a person resident outside India, and

Foreign exchange received as pension or any other superannuation or other monetary benefits from his employer outside India.

An NRI can well have an insight on the opportunities for NRIs in India . There are various avenues where, as an NRI Relocating to India you can invest your money.



Banks in India offer remunerative deposit schemes for NRI's planning to return to India with the intention of permanently settling down here. All their existing repatriable accounts can be transferred to RFC (Resident Foreign Currency) accounts denominated in any one / or more than one foreign currencies - USD, GBP, Euro, JPY, CAD and AUD. He/she may shift other movable assets which include jewellery, motor car, personal household articles, personal computers, cell phones and other gadgets.



NRI Investment in India is allowed to the extent that an NRI can use his/her own funds to acquire immovable property or avail of home loan from bank for this purpose. Banks and financial companies in India provide several financial and investment services like investing through the Mutual Fund route, hiring their portfolio investment services and others to meet their varied investment objectives. NRIs can acquire residential/ immovable property in India, rent it out, transfer or sell it.



For transferring money to India they can avail of efficient Money Exchange Service Providers with 24x7 Customer Support helping them to send money to India directly into any bank account within no time.



Larry Jone is an associated editor to the website http://www.indianground.com . Indian ground is dedicated to explain all your related queries for real estate India and Indian properties, with the latest news updates. Your feedback and comments will be highly appreciated at "larryjone@gmail.com".