Are returning Indians permitted to retain their assets abroad even after return to India and hold them with separate identity ?
Yes, effective from 17th July 1992, persons who return to India, after a continuous stay of one year and above can retain their assets, foreign currency accounts abroad, or dispose of their other foreign currency assets and immovable properties. They can also repatriate the assets into India and hold them separately with authorised dealers under “Resident Foreign Currency (RFC)” accounts.
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