NRI Guide

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Do Foreign Banks Report to IRS

Yes, the Foreign Banks do report to the IRS. Foreign Account Tax Compliance Act (FATCA), passed in 2010 makes it...

How to Get Study Visa for USA

Any individual from any foreign country who wishes to enter the borders of United States of America for any purpose...

How to Start a Startup in India

Startups have become the buzz word around the town. Its eminent success here in India and across the globe has seen...

How to Change Surname in Passport

Passport of an individual is the most important identity proof. Name becomes the most important component of the...

What To Do If I Lost My Green Card

Green Card is an important documentary proof and evidence required by immigrants living and working in the United...

Is Police Verification Required for Reissue of Passport

A Passport is an official document which is issued by the government of the country where he/she is residing....



Ask, Answer & Discover

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Q: Do any documents need to be filed with RBI after property purchase?

A: An NRI / PIO who has purchased residential/commercial property under general permission is not required to file any documents with the Reserve Bank.

Q: Can residential/commercial property be mortgaged?

A: i) NRI / PIO can mortgage to: (a) an authorized dealer/housing finance institution in India without the approval of Reserve Bank. (b) a party abroad - with prior approval of Reserve Bank. (c) a...

Q: How can an NRI/PIO make payment for the purchase of the residential/commercial property in India?

A: Payment can be made by NRI / PIO out of (a) funds remitted to India through normal banking channel or (b) funds held in NRE / FCNR(B) / NRO account maintained in India. No payment can be made...

Q: Can a person who had brought immovable property when he was a resident, continue to hold such property even after becoming an NRI/PIO?

A: Yes, he can continue to hold the residential/commercial property / agricultural land/ plantation property/farm house in India without the approval of the Reserve Bank.

Q: Can NRI/PIO rent out the residential/commercial property purchased out of foreign exchange/rupee funds?

A: Yes, NRI / PIO can rent out the property without the approval of the Reserve Bank. Rent received can be credited to NRO / NRE account or remitted abroad. Powers have been delegated to the...

Q: Are NRIs allowed to make a nomination for their mutual fund accounts?

A: Yes, all the NRIs are allowed to have a nominee(s) in their mutual fund account to whom the Mutual Fund units will be transferred after the holder’s death in case of a single holder. But, if it is...