Types of Rupee Account Permitted For NRI
There are mainly five types of rupee account permitted for NRI. They are Ordinary Non-Resident Rupee Accounts (NRO Accounts), Non-Resident (External) Rupee Accounts (NRE Accounts), Foreign Currency (Non –Resident) Accounts(Banks) (FCNR (B) Accounts), Non-Resident (Non-Repatriable) Rupee Deposit Accounts (NRNR Accounts) and Non-Resident (Special) Rupee Accounts. The NRI Legal Service Kerala http://ggplawpartners.com/ can help you to open any type of NRI account. The NRO accounts are rupee dominated non-repatriable accounts. It will be in the form of savings, current, recurring, or fixed deposits. It can be started as joint accounts with the residents of India. When anyone leaves India, for the purpose of employment, his/her account will be converted into the NRO account. For a successful conversion, you can approach NRI Legal Service Kerala. NRE accounts are also rupee dominated accounts. It can be savings, current, recurring, or even fixed type. You can star...