Can NRI give Power of Attorney to a resident to operate his account and for making investments on his behalf?
Yes, NRI can appoint a resident as his Power of Attorney holder to make all his local payment in rupees from his NRE / NRO accounts,including payments for eligible investments subject to compliance with relevant regulations made by Reserve Bank of India from time to time.A Power of Attorney holder can repatriate back the funds only to the NRI account holder.
Related Questions
- Are the NRIs permitted to give a Power of Attorney to a resident Indian to operate the Non - resident accounts?
- Can an NRI give Power of Attorney to a resident to operate his accounts and for making investments on his behalf?
- Can NRI give Power of Attorney to a resident to operate his account and for making investments on his behalf?
