Are NRIs permitted to hold their assets abroad?
Many questions echo in the core of Non Residents of India (NRIs). Some of the questions are-“If I would be able to hold my foreign assets? ; What will happen to my foreign accounts? ; Should I close them all?” and many more….
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PIO cards no more exist as Indian government has ordered for the cancellation of this immigration service. But its conversion to OCI card has smoothened the way of PIOs to travel India. It’s a good alternative. This cancellation is not applicable for those who obtained it before January 9, 2015. They can extend its validity to lifetime by getting it stamped from the Indian consulate office. Individuals in foreign security and retired foreign policemen are not applicable for it.
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Repatriation of Pension in the US
Repatriation of pension amount stands for returning the annuity. The US is hugely populated with Indian diaspora. India terms them as NRIs. Many of these have spent their life in government jobs. And later after retirement, they settled in the US with their children.
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