Thus a student who goes for studies abroad and his stay in India during a financial year is less than 182 days, then he shall be treated as non-resident Indian for the next financial year. The period of stay may not be 'continuous' and the same shall be calculated by adding up the days of his stay in India during that financial year. When he stays in India for less than or upto 182 days during the preceding financial year. Section 2(w) of FEMA, 1999 defines a 'person resident outside India' as a person who is not resident in India.Īn individual shall be deemed to be a non-resident in following cases:Ī. On submission of the proof of current address, the account would be treated as a normal NRO account, and will be operated in terms of extant instructions.50,000/-, pending verification of address. During the 30 days period, the account should be operated with a condition of allowing foreign remittances not exceeding USD 1,000 into the account and a cap of monthly withdrawal to Rs.Banks should not insist on the landlord visiting the branch for verification of rent documents and alternative means of verification of local address may be adopted by banks.

Within a period of 30 days of opening the account, the foreign student should submit to the branch where the account is opened, a valid address proof giving local address, in the form of a rent agreement or a letter from the educational institution as a proof of living in a facility provided by the educational institution.

5 NRO account be opened for Foreign Students studying in India on the basis of his/her passport (with appropriate visa & immigration endorsement) which contains the proof of identity and address in the home country along with a photograph and a letter offering admission from the educational institution, subject to following:

The Change by Remittance Girl