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To shift from a savings account to an NRE (Non-Residential External) or NRO (Non-Residential Ordinar

  • Samit Kapoor
  • Jul 8, 2023
  • 2 min read

ree

Application Form: This form needs to be filled out with accurate and updated information. It serves as a request to open an NRE/NRO account and includes details such as personal information, address, occupation, etc.


Passport: A valid passport is required for identification and proof of nationality. It verifies your identity and citizenship.


Visa and Resident Permit: If you are currently residing in India under a visa, you will need to provide a copy of your visa and resident permit as proof of your non-residential status.


Proof of Address: You will need to provide proof of your overseas address, such as a utility bill, bank statement, or any other document issued by a government authority in your home country.


Proof of Identity: Apart from your passport, you may need to provide additional identification documents like a driver's license, social security card, or any other government-issued identification card.


Overseas and Indian Bank Statements: You may be required to submit bank statements from your overseas account as well as your Indian savings account to demonstrate your financial history and the source of funds.


Passport-sized Photographs: You will need to provide a few recent passport-sized photographs for account opening purposes.


PAN Card: Permanent Account Number (PAN) card is mandatory for financial transactions in India. You will need to provide a copy of your PAN card or submit a PAN card application along with your NRE/NRO account application.


The significance of each document:


Application Form: It provides essential information required by the bank to process your account opening request.


Passport: It is a primary identification document that verifies your identity and citizenship.


Visa and Resident Permit: These documents serve as proof of your non-residential status in India.


Proof of Address: It confirms your overseas address, which is necessary for opening an NRE/NRO account.


Proof of Identity: Additional identification documents are required for verification purposes.


Overseas and Indian Bank Statements: These statements help in assessing your financial history and the source of funds.


Passport-sized Photographs: These are needed for your account opening forms and for identification purposes.


PAN Card: PAN card is mandatory for financial transactions in India and helps in tracking your tax obligations.


It's important to note that the exact documentation requirements may vary slightly between different banks and may be subject to change. It's advisable to contact your chosen bank directly to get the most accurate and up-to-date information regarding the documents needed for shifting from a savings account to an NRE/NRO account in India.

 
 
 

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