Before You Open NRE and NRO Accounts, Watch This! Simplifying Finances for NRI or Foreign National

Welcome to our informative video! In this ultimate guide, I will explain everything you need to know about NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts, including which one you should consider opening. We'll also delve into further options for savings, fixed deposits (FD), interest, tax implications, and more related to these accounts.
Whether you're an NRI (Non-Resident Indian) or a foreign national looking to invest or manage your funds in India, understanding the differences between NRE and NRO accounts is crucial. These accounts serve different purposes and have distinct features, so it's essential to grasp their nuances before making a decision.
Throughout the video, I'll walk you through the process of opening an NRE and NRO account, From eligibility requirements to the necessary documents.
You'll also discover the advantages and limitations of each account type, how they cater to different financial needs, and their implications on repatriation and taxation. Understanding these aspects will empower you to make an informed decision that aligns with your unique financial goals.
Don't forget to hit that "Like" button if you find this information valuable, and make sure to subscribe to our channel for more insightful content on international banking and finance. Let's embark on this journey together to simplify your financial decisions and make the most of NRE and NRO accounts! 🌏💼💰
I will talk about some of the topics & some are related topics to our video-
1) nro vs nre account
2) nro to nre fund transfer
3) nro and nre account difference
4) nro account tax rules
5)hnro nre fcnr rfc accounts
6) nro nre
7) nro nre fcnr acccounts
8) bank account nri
9) nri account
10) nri nro nre account
11) nri account kya hota hai
12) nri nro account
13) non resident bank account
14) non resident indian
Watch the full video to gain a comprehensive understanding of these accounts and take charge of your financial future. Get ready to make informed financial decisions with confidence! 🏦💼🌏
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[@unitedbysweetdreams]

Thank you for the info ,i had been to SBI in mississauga,with all my documents to open NRO the branch manager had been to India they told me book an appointment send the doc first with manager then then he will see da da da da very long process as you said.i wish they made it easy and simple. The sites are also so complicated to understand whether it's bank or consulate site.why do they do that.

[@canadatriedandtestedoriginal]

Hi they have provided general instructions and banks have made internal processes which we figure out only when we go through

[@vrindabathla4873]

Hello sir, I want to do investment through Zerodha for which I need the NRO account so is it a better option to give my indian address?

[@KingRisen-g1n]

Hello Sir, can you do comment on how an Indian born foreigner Passport holder can get an Aadhar Card in India, what exactly is the process, a video on this would be great too, I am sure lots of people would be interested to watch. These days foreigners cant stay in many hotels in India and only restricted specific hotels at higher costs, so an Aadhar Card has great value and implications for many other activities like buying and selling property. Thanks

[@canadatriedandtestedoriginal]

Hi as you might be aware that Aadhar is an identify proof and not a proof of citizenship, resident foreigners who have stayed in India for more than 182 days in the past one year can apply for Aadhar. I suggest you write to [e-mail] with your query and they will correctly guide you on this. Hope this helps

[@KingRisen-g1n]

@@canadatriedandtestedoriginal Thanks for the clarification on Aadhaar. I have OCI card thats proof of former Indian Citizenship if I am not incorrect? What about PAN card whats that for?

[@canadatriedandtestedoriginal]

@user-jn7sg7pn9p you can initiate for PAN card too but being foreign national it might be different form. Just call Protrean(earlier it was back) on this phone 020 - 27218080. BTW before proceeding google protrean on Google and then confirm this phone number before calling. Be alert 🚨 always online

[@utkarshpathak9433]

Hi sir, I am an international student in the UK and I am currently on student Visa. My bank from India is telling me to convert my savings account into NRO account, I don't have any source of income in and outside India, I took education loan and there is a separate loan account on my saving accounts. I heard there is 30% +3% of tax on the savings once converted into NRO account. Please sir guide me is it mandatory for me to convert my savings account to NRO account ?

[@canadatriedandtestedoriginal]

Based on my understanding, an NRI (Non-Resident Indian) is someone who has been residing outside India for more than 182 days in a financial year for employment, business, or other purposes. If you fall under this category, it is generally mandatory to convert your existing savings account into an NRO (Non-Resident Ordinary) account, even if you don't have any earnings currently. Regarding your education loan account, it should remain unaffected and separate from the conversion of your savings account. However, I would recommend confirming this with your bank. If you need more detailed information or assistance, it might be helpful to have your parents visit the nearest bank branch, especially one with staff knowledgeable about NRO/NRE accounts. Sometimes, dealing with a nationalized bank(especially) branch can be challenging, and getting help from someone competent made a big difference in my case. I hope this information helps.

[@jinenderthakur8116]

Hello sir , I landed in saudi for work for 3 yrs on 20Sept2023 , now what to do I have 4 saving accounts ICICI, sbi, hdfc, axis and have credit card as well. My question what will happen to my credit cards ones if we shifted or converted sb into NRE account. 2nd. I have some investment like MF, STOCKS so should we open all 3 NRE, nro, fsci accounts but can exiting sb account can be converted into NRE and nro account or only one option is provided

[@canadatriedandtestedoriginal]

Hi Jitendra after conversation I still have my HDFC CC there are of course limitations which I have not yet explored. Investments again were converted to NRI and have had no impact. Anytime I need to busy I have to tell the brokerage on email instead of i directly buying as I did before. When you get to India meet a good tax consultant and he will take care on your behalf Again in my case savings account got changed to NRO account and separately I opened NRE

[@IAMSUMANBISWAS]

Hello sir, my name is Suman, living in Brazil since 2016. I wan to to open a NRE account from Brazil in SBI. It is possible from here?

[@canadatriedandtestedoriginal]

Hi Suman yes it is possible to open while you are away. SBI Brazil will not be SBI India. It’s a seperate entity with SBI person on deputation. Once you go to branch he/she will initiate the process after doing KYC from their end. It will slightly be expensive then having being done in India

[@IAMSUMANBISWAS]

@canadatriedandtestedoriginal How long will it take if I open a NRE account from India.

[@canadatriedandtestedoriginal]

@IAMSUMANBISWAS if in India within a day or two. If you already have bank account and changing that within a day. New debit card will take 2-3 days(bank says 1 week time)

[@IAMSUMANBISWAS]

@canadatriedandtestedoriginal Thank you very much. Another question is, how can I pay in india through using UPI, if I would not have any indian bank account. Would you please explain to me please

[@IAMSUMANBISWAS]

@canadatriedandtestedoriginal I wan to use Wise money transfer, converting USD to INR but I do not have any Indian bank account just I want to use UPI system from my mobile to scan a QR code, how can I do that?