More and more Indian’s are travelling and settling abroad for better ventures. Although these individuals have settled abroad, they still look for ways and means to invest in their home countries. In this case, these investments can be in the form of an NRI account.
However, opening this account from abroad may seem like a tedious task. Some individuals are also under the impression that one would need to visit the home country to get this process done. However, you can now open this account from the comfort of your overseas home just by following these given steps:
Step1: Downloading the form or fill it online
Once you have settled on your choice of bank or financial institute, you can look up the website. Most of these websites come with a form to open a NRI account, which is downloadable. Some banks will also offer the choice of filling up a form online.
Step 2: Get the document requirements and account opening funds ready
Like any other account opening process, you will be required to submit documents pertaining to you proof of identity as well as your residence. You will also need to provide document proof of your NRI or PIO status through copies of your passport, valid visa or PIO card. In addition to this, you will need to submit documents required for the type of account you would want to open. Once all the required documents are collected, you will also need to enclose a certain amount of funds with your application. A check or demand draft is a normal requirement for most banks and financial institutions.
Step 3: Attestation of the required documents
Most banks and financial institutes require documents that are attested by an official institute. You can always approach the Indian Consulate, overseas bank or a foreign notary to notarize your documents. Alternatively, you can furnish the additional approved documents with a self-attestation documents.
Step 4: Additional KYC
Some banks and financial institutes may require account applicants to fill up additional KYC documents. Most of these documents relate to the tax residency status or other related details under the FATCA and CRS requirements. With these documents, you may have to submit additional documental proof along with attested copies.
Step 5: Dispatch the requirements to required destination
Once you have completed the required set of forms and documents, you can dispatch the requirements to the required bank branch. Some banks may even provide a PO box service in certain countries, wherein applicant may drop off the application.
Step 6: Call for assistance
If there is a need for any requirements for assistance, you can always call a bank or financial institute on the helpline. In most cases, a representative will be assigned to your applicant, wherein which, you can contact them whenever you need any clarification or assistance.
However, opening this account from abroad may seem like a tedious task. Some individuals are also under the impression that one would need to visit the home country to get this process done. However, you can now open this account from the comfort of your overseas home just by following these given steps:
Step1: Downloading the form or fill it online
Once you have settled on your choice of bank or financial institute, you can look up the website. Most of these websites come with a form to open a NRI account, which is downloadable. Some banks will also offer the choice of filling up a form online.
Step 2: Get the document requirements and account opening funds ready
Like any other account opening process, you will be required to submit documents pertaining to you proof of identity as well as your residence. You will also need to provide document proof of your NRI or PIO status through copies of your passport, valid visa or PIO card. In addition to this, you will need to submit documents required for the type of account you would want to open. Once all the required documents are collected, you will also need to enclose a certain amount of funds with your application. A check or demand draft is a normal requirement for most banks and financial institutions.
Step 3: Attestation of the required documents
Most banks and financial institutes require documents that are attested by an official institute. You can always approach the Indian Consulate, overseas bank or a foreign notary to notarize your documents. Alternatively, you can furnish the additional approved documents with a self-attestation documents.
Step 4: Additional KYC
Some banks and financial institutes may require account applicants to fill up additional KYC documents. Most of these documents relate to the tax residency status or other related details under the FATCA and CRS requirements. With these documents, you may have to submit additional documental proof along with attested copies.
Step 5: Dispatch the requirements to required destination
Once you have completed the required set of forms and documents, you can dispatch the requirements to the required bank branch. Some banks may even provide a PO box service in certain countries, wherein applicant may drop off the application.
Step 6: Call for assistance
If there is a need for any requirements for assistance, you can always call a bank or financial institute on the helpline. In most cases, a representative will be assigned to your applicant, wherein which, you can contact them whenever you need any clarification or assistance.
No comments:
Post a Comment