08 March 2011
Can a Foreigner, who is also a non-resident, open a Bank account in India to deposit his income generated in India ? If yes, which account?
09 March 2011
The answer shall depend on the stay period and intention of the foreigner in India. If he wants to open account for 6 months then he can open NRO account. But if he is going to stay in India and has already spent 182 days then he may open regular bank account also.
09 March 2011
Thanks for the response. He is a non-resident, i.e. his stay in India is less than 182 days at present. In this case can he open any type of a/c here?
10 March 2011
last year he was non-resident. Also, I believe NRE and NRO accounts can only be opened by NRIs or PIOs. HE is none of the above. He can only open NRO a/c only upto 6 months on tourist VISA ?
10 March 2011
Hi, Brief me on his visa status last year 6 Month Tourist visa ,What about this year ? he will have to produce visa to open even NRO account.
CAclubindia
