How to open an NRO account

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A non-resident Indian can access earnings in India through a nonresident ordinary (NRO) account. Earnings in India could be in the form of rent, dividends, interest, pension, among other sources. An NRO account can be opened in the form of a savings, current or fixed deposit account. Repatriation of funds from NRO accounts is permitted by RBI, subject to certain limits. Procedure for opening an NRO account is as follows.


The non-resident Indian can convert his/her existing resident account in India to NRO account or open a new NRO account. Documentary proof that the account holder is a non-resident as defi ned in Indian tax laws is a prerequisite for NRI accounts.

In case of conversion of resident account, a form needs to be filled and signed by all account holders. Documents such as proof of identity, NRI status proof, proof of foreign address and two photographs need to be submitted. In case of a new account, the NRI will have to fill up a new account opening form with similar KYC documents.

Proof of residence abroad can be in the form of employment detail, student status, dependent visa status, or a copy of resident permit in the overseas destination. This proof needs to be attested by the Indian embassy, notary or branch of an Indian bank with an overseas branch.

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