Essential Checklist for NRI Visitors to India: 10 Must-Do Tasks

Are you planning a vacation to India? While the excitement of the journey might be building up, it's crucial to make some necessary preparations to make the most from the visit. In this blog post, we'll delve into 10 must do essential tasks for NRIs that deserve your attention before and during your visit to India.

1. Bank Account Updates:

- Ensure your KYC (Know Your Customer) details are up-to-date.

- Update Visa status, passport details, and overseas address at your bank branch.

- Consider converting resident savings accounts into NRO accounts if necessary.

- Streamline your accounts, close accounts held in smaller banks while keeping only those with robust IT infrastructure for easy access from abroad.

2. Demat Account Conversion:

- If you hold a resident demat account, convert it to an NRO demat account to comply with the law.

- Coordinate with your bank or brokerage to update the account details for a seamless transition.

3. Consult with a Chartered Accountant:

   - Seek professional advice on tax compliance and explore benefits under Double Taxation Avoidance Agreements (DTAA).

   - Discuss the disclosure of assets outside India and any potential tax implications.

4. PAN Card Verification:

- Ensure you have a valid PAN card, as it is essential for transactions in India.

- Address any discrepancies, including multiple PAN cards or data entry errors, through the appropriate channels.

5. Aadhar Card Check:

- While not mandatory for NRIs, review your Aadhar card details and make corrections if needed.

- Update contact details for better communication.

6. Property and Documentation:

- Verify property tax payments and address any pending liabilities.

- Establish contacts with reliable service providers for property maintenance in your absence.

7. Loan Closure Documentation:

- Collect original property records and obtain a closure letter or balance certificate for cleared loans.

8. Indian Mobile Number:

   - Consider getting an Indian mobile number and updating it across your accounts for easy communication, especially for OTPs.

9. Family Matters:

- Take the time to understand and address your parents' financial situation.

- Ensure their health insurance coverage is adequate for their needs.

10. Enjoy Your Time:

- Lastly, don't forget to indulge in the things you love—visit your favorite places, connect with friends, and savor the unique experiences India has to offer.

By taking care of these crucial aspects, you'll be well-prepared to make the most of your vacation in India. Enjoy every moment, and make memories that will last a lifetime!