Foreign Currency Accounts (NRE, NRO, FCNR)
We assist NRIs in opening, managing, and repatriating funds from NRE (Non-Resident External), NRO (Non-Resident Ordinary), and FCNR (Foreign Currency Non-Resident) accounts.
Problem Addressed:
NRIs often struggle to understand the differences between these account types and their associated benefits and limitations, especially for repatriation.
Process Flow:
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1. Account Opening:
Assist with documentation and liaising with banks to open NRE, NRO, or FCNR accounts.
Ensure compliance with RBI regulations for account holders. -
2. Account Management:
Guide in depositing eligible funds such as rental income, investment proceeds, or foreign remittances.
Help transfer funds between accounts for optimal benefits (e.g., converting NRO to NRE funds). -
3. Repatriation of Funds:
Ensure repatriation of funds from NRE and FCNR accounts, which are freely repatriable.
For NRO accounts, facilitate tax compliance and file Form 15CA/CB.
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