A personal finance checklist for those becoming NRIs3 min read . Updated: 21 Jun 2018, 06:34 PM IST
From bank accounts and lockers to demat accounts and life insurance policies, steps to take before you gain NRI status
It is important to remember that your status as an non-resident Indians (NRI) is different under the Foreign Exchange Management Act (FEMA) and the Income Tax Act. According to FEMA, you become a non-resident when you plan to move overseas professionally or for an indefinite period. These are the things you should do before you leave:
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