Foreign nationals resident in India can open and maintain a resident Rupee account in India.

2)Foreign tourists can open an NRO account for a maximum period of 6 months, during their stay in India. As a tourist, a non-resident can place monies in a deposit account. If the deposit is held for more than six months, then permission from the RBI would be required to repatriate the amount.

3) The foreign nationals employed in India holding valid visas are eligible to maintain resident accounts with an Indian bank. However, the banks are required to close the resident accounts of such foreign nationals on their leaving the country and transfer their assets to their accounts maintained abroad.

The basic question is his resident status along with the people of Indian Origin if he is of Indian Origin he can hold and mention the property.

Non resident of Foreign nationalities are not allowed to buy and hold the property in India and bank will not converters normal account to nro account. You can dispose the property pay the taxes on the property repatriate the proceeds to Germany

A non resident foreigner can hold bank accounts but the account is NRO account and the duration is for 6 months. He can deposit and withdraw from that account.

Can a non resident foreigner with immovable property continue to hold and operate an Indian bank account? You can hold a joint account with indian residents under the FEM act.

Bank is not converting the resident account to NRI account on basis of title deed; - Title deed may not help. If you intend to make foreign currency remittance to your indian account, then you need to open an NRI a/c in the foreign branch of the same bank in india.

That will be the legal mean through which remittances can be made,

1)since you purchased property when you were resident indian you can continue to hold such immovable property

2)you can obtain an NRO account as you have tourist visa and keep on coming to India

As per FEMA Notification No.5/2000 - RB dated May 3, 2000, you can convert your SB to NRO whereby the funds can be repatriated after adjusting taxes.

They will open a NRO account as per guidelines of RBI

1. You are deficient in providing details. Are you a foreign National or a foreign citizen having a OCI card?

2. A Foreign National (non OCI card holder), be he a resident or non resident, can not get a deed of conveyance in connection with an immovable property registered in his favour.

3. He is required to be a Citizen of India for buying immovable properties in India unless specially permitted by the Reserve bank of India.

3. If you hold a OCI (Overseas Citizen of India) Card, then only you shall be eligible to buy immovable property in India.

4. Resident A/c can be converted to NRI a/c by submitting copy of the title deed. NRI a/c is opened by submitting the passport showing that the applicant stayed for more than 182 days abroad to be considered as NRI or appointment letter which shows that he will be out of the Country for more than 6 months (like Marine Engineers).

5. However, if you are an OCI card holder, you van open a NRO account which is meant for OCI card holders which will serve your purpose.

1. It appears that you are an OCI Card holder.

2. You can open a NRO account inyour bank which is meant for OPCI card holder to serve your purpose.

Open a NRO account by submitting your OCI Card without trying to convert your resident account to NRO a/c.since resident a/c can not be converted to NRO a/c since it will establish that the account holder was and is not a resident of India or a citizen of India but a foreign national holding OCI card.

In such case still bank is not listening

1. Convert your bank savings account into an NRO account

Why: Because the Reserve Bank of India says so in its circular: RBI/2007-2008/242 Master Circular No. 03 /2007- 08.

What is an NRO account ?

An NRO account is like your regular bank savings account but has certain restrictions. In this account you can deposit your rupee earnings from India such as rent, interest, dividends etc. You can also deposit funds from abroad that are in the form of freely convertible foreign currency. You can issue cheques for all local payments, EMIs or investments through this account.

Repatriation: You can repatriate (that is transfer to a bank account outside India) all current income such as rent, interest, dividends etc that you earned in India. Apart from that, if you made any capital account transactions like sale of property or investments, and if you got the sale proceeds in the NRO account, you can repatriate up to $1 million per calendar year. However, you would need to produce a certificate from your chartered accountant declaring that all taxes on the funds have been paid. Only then will the banker permit the repatriation.

How to convert ?

Visit your bank branch and fill up the required forms. You would need to submit two photographs, a copy of your passport and copy of your visa.

Already moved abroad?

If you have already moved abroad without completing this formality, you can get copies of all your documents attested by the Indian Embassy or Notary and send them to the branch.

Yes good luck

It is true that a person resident in India can purchase immovable property in India

2) you can as foreign tourist open an NRO account during your stay in India

1. Opening of NRO account is the solution for you in the present case.

2. I have an Australian Client who stayed in the Ashram of ISKON for 2 years being its devotee and entered in to an agreement with a seller for buying a flat in Krishnanagar, West Bengal, India and after paying the whole amount went for registering the sale deed which was refused by the Registrar on the ground that he is not an Indian citizen. Now he has filed a Writ Petition before Calcutta High Court through me against the said seller for cheating him with the sale proceeds by misleading him in to believing that he can buy a flat in India without getting its Citizenship.

3.

You can make representation to RBI that you may be permitted to continue to maintain NRO account in India

1. You are legally correct in claiming that once you have been allowed to buy the immovable property in India by registering a deed of Conveyance, you should be allowed to have a bank account in order to make transactions in connection with your said property.

2. It will be appropriate on your part to file an application before the RBI seeking special approval for opening a NRO account or any such account as the RBI will deem fit and proper.

1) For further details please select consultation call , So we can have talk on your case.

1. Foreign tourists can open an NRO account for a maximum period of 6 months, during their stay in India. As a tourist, a non-resident can place monies in a deposit account. If the deposit is held for more than six months, then permission from the RBI would be required to repatriate the amount. Funds remitted from outside India through banking channel or those obtained by sale of foreign exchange brought by the tourists to India can be credited to the account.

2. The remedy for you is to open a NRO account to make the transactions. In view of the fact that you have been allowed to purchase the property in India by RBI you should also be permitted to open a NRO account to make any transaction in relation to the said property. So apply to the RBI for permission to open the NRO account.

1. Since the bank is not ready to convert your account to a NRO account you may ask the bank to open a fresh NRO account which should serve your purpose.

2. If the permission to open NRO account is denied by RBI then you may file a writ petition in the High Court.

Approaching RBI in person will not help. However, engage a lawyer to get the information through right to information act and keep it as record.

NRO accounts can be opened with funds either remitted from abroad or generated in India. These are just like a savings accounts, with certain restrictions on repatriation of proceeds to the foreign country.

Banks prescribe specific forms for the conversion of existing savings accounts to NRO accounts.

A new account opening form also needs to be submitted to support the conversion request. Address proof of the overseas address must also be provided. Copies of the applicant's passport, valid visa or work permit and OCI/PIO card (if applicable) must be submitted.

Foreign citizens of Indian origin, purchasing residential property in India under the general permission are required to file a declaration with the central office of the RBI at Mumbai within 90 days from the date of purchase of the property or final payment of amount.

This has to include a certified copy of the document evidencing the transaction and bank certificate regarding the amount paid.

To qualify for opening a resident savings account, one doesn't need to fulfill the criteria of having stayed in India for more than 182 days.

Foreign nationals who come to India as tourists can open an NRO account which is valid for six months.

1.2 As per section 6(5) of FEMA, a person resident outside India can hold, own, transfer or invest in any immovable property situated in India if such property was acquired, held or owned by him/ her when he/ she was resident in India or inherited from a person resident in India.

The bank is not willing to open a NRI account..I will check again for NRO account.

If one bank is not entertaining to open a NRO account then you may try to open the same in another bank.

You may comply with the formalities as mentioned earlier.

The foreign national is required to furnish copies of the following documents to open the bank account:

Valid foreign passport.

Valid Indian visa ( it should be a longterm visa: valid for more than 182 days).

Copy of Foreigners Registration Office (FRO) permit.

Overseas address proof.

Indian address proof.

Passport-size photograph.

Copy of PAN card or Form 60.

They also need a letter from employer or letter of contract. For business visits, RBI approval may be needed.

Correction: the bank is not willing to convert my resident account held since 2003 to a NRI/NRO account, if my resident account does not get converted then the bank will block in April due to no Adhaar registration..

You may verify from the bank the requirements to be complied in this regard other than the one what you possess.

You may try to comply with the rules as envisaged.

I will ask the bank again to open a NRO account. Any thoughts/advise? Thank you.

NRIs do not require permission of the Reserve Bank of India (RBI) to acquire residential or commercial property in India.

The Aadhaar Act, 2016 states, "Every resident shall be entitled to obtain an aadhaar number by submitting his demographic information and biometric information by undergoing the process of enrolment."

The Act further defines residency as, "An individual who has resided in India for a period or periods amounting in all to 182 days or more in the 12 months immediately preceding the date of application for enrolment."

You can obtain Aadhar card and utilise it for opening NRO account if that can solve the problem.

Since I am allowed to hold immovable property based on explanations above I should also be allowed to hold a proper bank account in India to be able to continue transactions for e.g. maintenance, receive rent, file tax returns, pay current bill, handle sale proceeds in case etc.

I am not about a 6 months tourist account. I believe this needs RBI clarification and therefore may need an advocate to officially approach RBI to clear the matter.

If you want to engage an advocate for the purpose of opening a account with bank and clarifying the RBI requirements, you may contact one from this forum or locally in the place where you currently reside.

If you are looking for a lawyer to take up your case, then yo may look for one who resides within the territory that you are looking for an help.

There are plenty of lawyers in the panel of this forum out of which some or the other may be able to help you provided you approach them by a personal contact by taking their phone number from this forum.

First you book a consultation, discuss the subject matter at depth and then if satisfied you may proceed.

You don’t need Lawyer to make representation to RBI for clarification to continue to maintain NRO account for period more than 6 months