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Non-Resident Ordinary (NRO) Account |
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Non-Resident External (NRE) Account |
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Foreign Currency Non Resident (FCNR) Account. |
The NRO / NRE accounts are maintained in rupees and the funds remitted will thus be converted into India rupees at the spot exchange rate.
For FCNR, the deposit can be maintained in the currency of your choice i.e. USD, GBP, EUR, AUD and
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| Life Insurance |
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Indian laws permit Non-Resident Indians to buy insurance. We have made an attempt here to furnish important features applicable to Non-Resident Indians (NRI) and People of Indian Origin having foreign nationality and residing in foreign countries. (PIO)
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Insurance policies can be obtained by NRIs from several insurance companies available at S M Financial and Management Services. The range of products offered by these companies cover almost every requirement that provide security as well as return on investment.
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What are the laws in India governing investment by NRIs in Life Insurance Policies?
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NRIs can invest in Life Insurance Policies issued by Insurance companies registered in India. The Policies are Rupee denominated and the premiums and claim amounts are payable in Indian Rupees.
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Investments by NRIs in Life Insurance Policies in India are governed by the regulations issued by the Reserve Bank of India (RBI). The Insurance Regulatory and Development Authority (IRDA) does not specifically regulate issue of insurance policies to NRIs. No specific approval is required for this purpose.
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When NRIs can be allowed insurance?
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On their visit to India: All the formalities of proposal completion, medical examination reports/Special reports and Moral hazard report are required to be completed during their stay in India.
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From their present country of residence through Mail Order Business: All the formalities of proposal completion, obtaining medical & special reports etc are to be completed in the present country of residence.
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| Investment Opportunities: |
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Real Estate: Primary and Secondary Market |
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Share and Debentures: Primary and Secondary Mkt |
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Mutual Funds |
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Derivative Contracts |
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Commercial Papers |
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Government Dated Securities, T-bills etc |
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