MOVABLE ASSETS ABROAD
RETURNING NRIs CORNER - MOVABLE ASSETS OUTSIDE INDIA
.01 An NRI returning to India for permanent settlement may hold or own foreign currency or foreign securities, provided the same were held / owned by him when he returned to India for settlement.
.02 He may further acquire bonus shares on said securities.
.03 He is also at liberty to sell such securities as and when desired.
A returnee NRI may also purchase foreign securities out of funds held in Resident Foreign Currency account maintained with a bank in India.
He can freely transfer / sell securities so acquired.