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❤️ FCNR (FOREIGN CURRENCY NON RESIDENT ACCOUNT ❤️


🎯A Resident Foreign Currency account in India can be maintained by a Non-resident Indian who has returned home for permanent settlement,
after staying abroad for a minimum period of one year.

🎯A Resident Foreign Currency account can be opened without any regulatory approval from the Reserve Bank of India.

🎯It is a foreign currency-denominated account.

🎯The money will continue to be maintained in the NRI's preferred choice of currency amongst those approved by RBI.
Foreign currency Non-Resident Account Interest income on these accounts is not subject to taxation as per Indian laws.