For non resident Indians across the globe . . .
15. Bank Accounts after Return to India
Question: I was an NRI for the past 13 years. Now I am planning to get settled down in India. How long I can maintain my NRI account. My company may send some of my benefits after one year. Please clarify. Thanks, Sundaram. Answer: Individuals who have returned to India after 17th July 1992 after a continuous stay abroad of not less than one year. Can continue to maintain their foreign currency accounts, shares, securities, property abroad without declaration to the Reserve Bank of India, provided these funds and assets were lawfully acquired by them out of foreign currency earned through employment or business taken up when they were outside India.
NRI - OCI - PIO Guide & Information
For non resident Indians across the globe . . .
15. Bank Accounts after Return to
India
Question: I was an NRI for the past 13 years. Now I am planning to get settled down in India. How long I can maintain my NRI account. My company may send some of my benefits after one year. Please clarify. Thanks, Sundaram. Answer: Individuals who have returned to India after 17th July 1992 after a continuous stay abroad of not less than one year. Can continue to maintain their foreign currency accounts, shares, securities, property abroad without declaration to the Reserve Bank of India, provided these funds and assets were lawfully acquired by them out of foreign currency earned through employment or business taken up when they were outside India.
Disclaimer: Information provided is for general knowledge only and should not be
deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do
change from time to time. Please note that in case of any variation between what has
been stated on this website and the relevant Act, Rules, Regulations, Policy Statements
etc. the latter shall prevail.
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