Non resident Indians who have/ intend to make Investments in IndiaFor Non resident Indians who have/intend to make investments in property and hold bank accounts in India, we manage their financial affairs in India. We provide NRI investment services, NRI capital gain services, issuing Form 15CB for repatriation of funds, NRI tax filing services as follows:
- Facilitate liquidation/lease of property
- Facilitate repatriation of sale proceeds of investment and property.
- Facilitate repatriation of income from investments and rent from the property let out.
- Facilitate acquisition/ lease of property with complete banking and other regulatory formalities.
- Plan their financial transactions to minimize tax liability in India.
- File Income Tax return.
|Particulars||Foreign Currency |
External Rupee Account
|Type of account||Term deposit only||Savings, Current, Recurring/ Term deposit||Savings, Current, Recurring/ Term deposit|
|Period for deposits||For terms not less than 1 year and more than 3 years i.e. 1-3 years only||No restriction||No restriction|
|Joint account||In the name of two or more non-resident individuals||In the name of two or more non-resident individuals||May be held jointly with residents|
|Operation of account||Besides account holder,Â Power of AttorneyÂ holder||Besides account holder, Power of AttorneyÂ holder||NRI and Resident Indian Account holder jointly or severally. Also Power of Attorney holder.|
|Designated currency||USD, Pound Sterling, Japanese Yen, Euro, DM, Australian Dollars, Canadian Dollars||Indian Rupees||Indian Rupees|
|Rate of interest||Fixed or floating within the ceiling rate of LIBOR/ SWAP rates for the respective currency/corresponding term minus 25 basis points at present.||Savings: Ceiling rate of six month USD LIBOR |
Term Deposit: Ceiling rate of USD LIBOR of corresponding maturity
Current: No interest is paid
|Savings: As applicable to domestic savings accountÂ |
Term Deposit: Banks are free to determine interest rates.Â
Current: No interest is paid.