NRI Guide

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FEMA Guidelines For Outward Remittance

Every country has its own guidelines on the money going in and going out. This includes India which is a country...

What Happens When You Declare Money At Customs

International traveler need to mandatory undergo customs check while traveling through international passages and...

How To Exchange Indian Rupee To US Dollar In USA

With the growing population of visitors (for various reasons such as education, career, and medical, among others) to...

Checklist For Travelling To USA From India

Every country has mandated instructions for any visitor visiting the country which needs to be followed by the...

Temporary Green Card Travel Restrictions

Green Card or a Permanent Resident Card is issued to all the permanent residents of USA which serves as a proof that...

How To Repatriate Money From NRO Account?

Repatriation of funds becomes necessary when an individual settled outside India has some immovable assets which he...

Ask, Answer & Discover

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Q: Do NRIs require PIS permission to sell shares which were purchased in primary markets (IPOs) on repatriable/ non-repatriable basis?

A: No, NRIs don't require PIS permission to sell shares which were purchased in the primary markets (IPOs) on a repatriable and non-repatriable basis.

Q: Can a PIS account be opened with a joint holder?

A: The PIS account cannot be a joint account. As per recent RBI guidelines, NRIs should have a separate bank account exclusively for PIS purposes. Transactions relating to their personal banking as...

Q: If the NRI customer purchases shares or convertible debentures in excess of prescribed limit?

A: NRIs will have to off load such portion of the holding, which is in excess of the prescribed limit.

Q: Is there any limit for purchase/sale of shares/convertible debentures by an NRI in the secondary market?

A: Yes. NRIs can purchase up to a maximum of five percent of the paid-up capital of a company and a maximum of five percent of the paid-up value of each series of debentures. For the purpose of this...

Q: Can NRI receive shares in inheritance?

A: Yes, as an NRI you can receive shares in inheritance. RBI permission is not required to be obtained and the shares will be held on a non-repatriable basis.

Q: What is the penalty for premature withdrawal of FCNR accounts?

A: Interest in such cases is paid at one percent below the interest rate payable for the period for which the deposit has actually remained with the bank.