Non-residing Indians (NRIs) are the Indian citizens who live abroad and Person of Indian Origin (PIO) refers to the foreign citizen who was born in India, has Indian parents, grandparents, or an Indian spouse.

NRIs can begin investing in India by opening either an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) account with an Indian bank. This account acts as the gateway for routing investments. Once set up, the next step is to complete the KYC (Know Your Customer) process, which requires valid identity and residence proofs, along with passport and visa details. At Inbest, we simplify the entire journey—right from documentation and account setup to selecting the right investment options.

NRE account- It is the external savings bank account for NRIs. It is known as a Non-Resident External Account. It is a regular account for NRIs the same as an ordinary savings account. Any funds available in an NRE account can be used in any country outside India. These funds can be converted into any foreign currency and can be used for everyday purposes. NRO account- It is the ordinary account for NRIs. It is known as a Non-resident Ordinary account. Because it is an ordinary account, like a normal savings account, funds available in NRO Bank accounts cannot be taken to another country from India. This means funds lying in the NRO account can be useful only for transactions in India. However, funds to the extent of 1 million dollars can be remitted abroad by obtaining a CA certificate in Form 15 CA/CB, once in any financial year.

Funds can be easily transferred from NRE to NRO Bank account, but no funds can be transferred from NRO to NRE account.

RBI has advised banks to revise such accounts as resident accounts once the account holder returns to India.

NRIs are allowed to directly invest in the units of Mutual funds, debentures of Indian companies, and shares. NRIs can also create their investment portfolio by purchasing shares/debentures of the Indian companies through stock exchanges. Such facilities are available on both repatriation and non-repatriation basis.