Dear Buzz,
Its illegal for an NRI to hold a non-NRI account. Normally there are rare chances of authorities finding it. But to be legal you should hold only NRI account and should convert your non-NRI account to NRI. Also its mandatory to report all your shareholding companies and so about your NRI status as per RBI
........
Regards,
Hari
Its illegal for an NRI to hold a non-NRI account. Normally there are rare chances of authorities finding it. But to be legal you should hold only NRI account and should convert your non-NRI account to NRI. Also its mandatory to report all your shareholding companies and so about your NRI status as per RBI
........
Regards,
Hari
I'm an NRI now. I have an NRI bank a/c and proof of my NRI status (Visa on my passport..local address proof etc)
Earlier i.e. before I became an NRI, I had a normal Indian broking and share trading a/c. I wish to convert this to an NRI / NRE broking and share trading a/c. I have written to my broker seeking advise but they are not very helpful
What are the rules to be followed when converting an Indian Resident Broking & share trading a/c to an NRI a/c ? Is there some RBI Guidelines on this ?
Any URL / Link / Advise would be most appreciated
Request : Please post your reply here
Regards
Subu