- Choosing between NRE and NRO accounts
- Taxation guidance (DTAA benefits, TDS on NRO)
- Repatriation planning
- Wealth/investment management
- Compliance (FEMA, RBI rules)
- Filing Income Tax Returns (ITR) in India
- NRO account tax planning
- Double Taxation Avoidance Agreement (DTAA) support
- NRE/NRO fund transfers
- Inheritance and succession planning
NRE/NRO s
Account Services for NRI
NRE Account (Non-Resident External Account) Purpose: To park overseas earnings in India in INR.
- Funds must be deposited in foreign currency, converted to INR.
- Fully repatriable (principal + interest) – you can transfer money abroad freely.
- Tax-free in India (no tax on interest).
- Maintained in INR.
- Ideal for: Sending your foreign income to India.
- Types:
- Savings
- Current
- Fixed Deposit
- Recurring Deposit
NRO Account (Non-Resident Ordinary Account)
Purpose: To manage income earned in India (e.g., rent, dividends, pension, etc.).
- Deposits can be made in INR or foreign currency, but the account is maintained in INR.
- Repatriation limited to $1 million per financial year (with documentation).
- Interest is taxable in India (TDS applies).
- Ideal for: Managing Indian income like rent, dividends, pension, etc. types:
- Savings
- Current
- Fixed Deposit
- Recurring Deposit
NRE/NRO
| Feature | NRE Account | NRO Account |
| Source of funds | Foreign income | Income earned in India |
| Currency maintained | INR | INR |
| Repatriability | Fully repatriable | Limited repatriability |
| Tax on interest | Tax-free | Taxable (TDS applies) |
| Joint Account Option | With another NRI | With NRI or Indian resident |
Documents Required to Open NRE/NRO Account
Most banks ask for the following (varies slightly):
- Passport (copy)
- Valid visa / work permit
- Overseas address proof
- Indian address (optional)
- Passport-size photographs
- PAN card (or Form 60 if not available)
- Bank’s application form
- FATCA declaration
Some banks allow online application and video KYC
Major Indian Banks Offering NRE/NRO Services
Each offers slightly different services like: Online account opening International debit cards Multi-city cheque books Investment opportunities (FDs, mutual funds)
Investment & Startup Consultancy for NRIs Usually Includes
When an NRI wants to invest in India and/or start a business there, a full-fledged consultant can help in areas like:
| Area | Typical Services Offered |
| Investment Advisory | Portfolio design (equities / mutual funds / debt / real estate), risk assessment, managing NRE/NRO/Demat accounts, repatriation of funds, DTAA/tax optimization, compliance with FEMA / RBI / SEBI laws. |
| Regulatory / Legal Compliance | Structuring business (Pvt Ltd, LLP, branch, etc.), foreign direct investment (FDI) rules, Foreign Exchange Management Act (FEMA), sectoral approvals (if needed), registration (MCA), licenses, permits, local/state regulations. |
| Tax Advisory | Income tax in India, TDS, capital gains, DTAA with your country of residence, GST, corporate taxes, tax filing, claiming deductions. |
| Business Structuring & Setup | Deciding the best legal form; incorporation / registration; obtaining PAN, TAN; ascertaining if the business is eligible for “Startup India” benefits; opening bank account; establishing physical or virtual office; drafting shareholder agreements etc. |
| Funding & Valuation | If startups: fundraising (angel / VC), preparing pitch decks, due diligence, valuation, choosing sources of funding. If investing: valuation & screening of investment opportunities. |
| Operations, Partner / Associate Identification | Finding local partners, dealing with staff / local law, market research, business plan, operational set-up, supply chains, etc. |
| Ongoing Compliance and Reporting | Annual filings, ROC returns, maintaining books, auditing, foreign investment reporting, RBI / FDI / FEMA compliance, possible exit / repatriation. |
Investment & Startup Consultancy for NRIs Usually Includes
Typical Consultancy Charges
| Service | Approx. Fee |
| Basic account setup help | ₹12,000 |
| Tax advisory (NRO income) | ₹12,000 – 30,000 |
| Repatriation support (15CA/CB) | ₹30,000 – ₹45,000 |
| Annual tax filing (with NRO income) | ₹12,000 – ₹30,000 |
| Investment advisory (NRE/NRO) | % of AUM or fixed fee |
Regulatory & Legal Considerations for NRIs in India Business & Investment
Foreign Direct Investment (FDI) Policy: Many sectors are under “automatic route” (no approval needed), others need government/RBI approval
FEMA / RBI Guidelines: For remittances, bringing in foreign capital, repatriation of profits/investment, etc,
Startup Definition & Benefits: Startups in India recognised under DPIIT can get benefits (tax exemptions, easier compliance etc). To get this, structure must meet criteria (private limited / LLP / partnership etc, turnover limit, etc.)
Choosing Legal Structure: Private Limited Company, LLP, branch/liaison/representative office etc. Some structures easier for funding, some with fewer compliances. At least one Indian-resident director sometimes required.
Taxation / Double Taxation: If you’re earning / investing both in India and abroad, treaties DTAA, how TDS applies etc matter.