Resident Foreign Currency account for Returning Indians

Eligibility

• Account can be opened by returning Indians i.e. those Indians who were non residents earlier, and are returning now for permanent stay.

Salient Features

• Account held in foreign currency.
• RFC deposits are accepted in USD, GBP, SGD, Euro, Australian Dollar, Canadian Dollar, JPY and CHF.
• Account can be opened by transfer of NRE/FCNR funds or by remitting foreign currency notes or travelers cheques.
• Foreign currency assets held outside India and brought to India at the time of returning for permanent stay can be credited to RFC account.
• Foreign currency received as pension or any other superannuation or other monetary benefits from the employer outside India can be credited to RFC account.
• Foreign currency received or acquired when a person was resident outside India as gift or inheritance from a person resident outside India can be credited to RFC account.