Non - Resident Indian (NRI)

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In an era of increased global mobility, the term Non – Resident Indian (“NRI”) carries profound significance, encompassing individuals of Indian origin residing abroad. Navigating the legal intricacies associated with NRI status requires a comprehensive understanding of the benefits and restrictions that come with it. Chandrawat & Partners specialises in providing tailored legal services to NRIs, aiding them in optimising their rights and complying with relevant regulations.


The Reserve Bank of India (“RBI”) and the Income Tax Act outline the criteria for NRI status. An individual is deemed to be an NRI if the person spends less than 182 days in India during a financial year. Citizenship is not the sole criterion; individuals of Indian origin, holding Indian passports or having Indian ancestors, also fall under the NRI umbrella.


Embracing the status of an NRI comes with a plethora of advantages, providing individuals of Indian origin residing abroad with many opportunities. Here are some key benefits that NRIs enjoy:

  • Investment Opportunities: NRIs enjoy the freedom to invest in various financial instruments within India, including stocks, mutual funds, and real estate. They can actively participate in Initial Public Offerings (“IPOs”) and capitalize on India’s dynamic economic landscape.
  • Banking Facilities: NRIs can maintain different types of accounts in India, such as Non-Resident External (“NRE”) and Non-Resident Ordinary (“NRO”) accounts. These accounts facilitate effective management of finances and seamless transactions.
  • Property Ownership: NRIs are permitted to own immovable property in India, encompassing residential and commercial real estate. This provides NRIs with a stake in India’s property market.
  • Repatriation of Funds: NRIs have the right to repatriate both principal and interest earned on their investments in India, subject to certain conditions. This facilitates the efficient management of funds across borders.
  • Tax Benefits: NRIs are entitled to specific tax benefits, and the income earned abroad may not be subject to taxation in India, depending on their residential status. This can lead to significant financial advantages.
  • Education and Healthcare: NRIs benefit from special quotas and privileges in educational institutions and medical facilities in India, fostering access to quality education and healthcare services.


While NRIs enjoy various privileges, there are also some restrictions:

  • Agricultural Land Ownership: NRIs are restricted from owning agricultural land in India, with limited exceptions depending on the state. This aims to preserve agricultural resources for Indian citizens.
  • Dual Citizenship: India does not permit dual citizenship. NRIs are required to renounce their Indian citizenship upon acquiring citizenship in another country, maintaining a single citizenship status.
  • Foreign Exchange Regulations: NRIs must comply with foreign exchange regulations, including restrictions on the amount of foreign currency that can be brought into or taken out of India. Adherence to these regulations is crucial to avoid legal complications.


Our services include:

  1. NRI Bank Accounts: Facilitating Non-Resident External (“NRE”) and Non-Resident Ordinary (“NRO”) accounts.
  2. Foreign Currency Accounts: Offering Foreign Currency Non-Resident (“FCNR”) accounts to mitigate exchange rate fluctuations.
  3. NRI Investment Services: Guiding NRIs through investments in mutual funds, equities, and real estate.
  4. NRI Home Loans: Assisting NRIs in availing competitive home loans for property purchase in India.
  5. Power of Attorney Services: Enabling NRIs to appoint representatives for managing financial and legal affairs.
  6. Taxation Services: Providing expertise in navigating NRI-specific tax regulations and compliance.
  7. NRI Demat Account: Facilitating the opening of Demat accounts for holding investments electronically.
  8. Portfolio Investment Scheme (“PIS”): Ensuring NRIs’ compliance with RBI regulations for stock market investments.
  9. Insurance Services: Assisting NRIs in acquiring life and health insurance policies in India.
  10. Remittance Services: Streamlining the process of sending money to India through authorized channels.
  11. Retirement and Pension Schemes: Guiding NRIs in contributing to government and institutional retirement schemes.
  12. Educational and Cultural Services: Connecting NRIs with educational and cultural initiatives, including scholarships and events.


The status of being an NRI brings a myriad of opportunities and challenges. Chandrawat & Partners, with its nuanced understanding of the legal landscape, stands as a trustworthy ally for NRIs seeking to navigate the complexities associated with their status. By unveiling the benefits and guiding clients through restrictions, the law firm enables NRIs to make informed decisions, safeguard their rights, and optimize their legal standing in India.

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