• NRIs must open an NRO account after changing their status from resident to NRI.

• An NRO account allows for legitimate dues in India, remittances received from abroad, and transfers from rupee accounts of non-resident banks.

• Funds remitted to an NRO account are non-repatriable.

• NRIs can hold an NRE account for repatriable services from outside India.

• The entire amount in an NRE account is repatriable to the NRI’s current country of residence.

• Income earned in this account is tax-exempt.

• NRIs can deposit foreign currency in an FCNR account.

• It’s a fixed or term deposit available for one to five years.

• No tax implications and funds are fully repatriable upon maturity

• NRIs can purchase residential and commercial properties in India under FEMA regulations.

• However, restrictions apply to agricultural land, plantation property, and farmhouses.

• NRIs can also receive immovable property as gifts or through inheritance

• When sending or receiving money to/from India, comply with FEMA’s remittance limits.

• FEMA allows a maximum of USD 1 million per financial year for repatriation, subject to specific conditions.

• NRIs must fulfill reporting obligations, including filing tax returns and submitting necessary documents

• Seeking legal advice is crucial to ensure compliance with FEMA requirements during real estate transactions in India.