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Hi,

Can you please let me know whether NRI bank account is compulsory for Australian student VISA from India ?
You want to open bank account in india or Australia ?
You can send money from any bank account in india as long as it is through proper banking channels
Australia is not bothered from which account you send
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Discussion Starter #3
You want to open bank account in india or Australia ?
You can send money from any bank account in india as long as it is through proper banking channels
Australia is not bothered from which account you send
Cheers
Hi,
Am applying Australian student VISA.So I need to know whether I should open NRI account.if NRI account not compulsory then I won’t open .
 

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Hi,
Am applying Australian student VISA.So I need to know whether I should open NRI account.if NRI account not compulsory then I won’t open .
Did you read the reply in detail?
Have you answered the question?
You probably have no idea who can be called an nri
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Discussion Starter #5
Did you read the reply in detail?
Have you answered the question?
You probably have no idea who can be called an nri
Cheers
Hi
Yeah.I read in detail.
I have to open NRI Account in India, if it mandatory for Student visa else no.
 

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Hi
Yeah.I read in detail.
I have to open NRI Account in India, if it mandatory for Student visa else no.
It’s your personal choice what bank accounts you open.
As mentioned by @NB Aus govt doesn’t care.
 

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I guess he's asking whether he needs to open an NRI account in India after moving to Australia.
As per the tax laws of India, any Indian Citizen who has been residing outside of India for more than 6 months out of 12 months in the previous tax year, is considered an NRI.
Coming to your question, you need to have an NRI account once you become an NRI. As per the laws, you should not operate a regular savings/current account in India. You need to open two accounts - NRE and NRO. NRE is for transferring money from abroad to India and only accepts foreign currency for incoming transactions. However, you would be able to withdraw it in rupees in India. NRO is like regular savings accounts in India where you can have any income from India. Most banks would open both for you together.
You won't have to pay any taxes when you transfer money from Aus to India into an NRE account as you would supply your Australian Tax File Number (TFN) as well as your Indian PAN while opening it. So you be able to transfer you Australian income worry-free into NRE account without any limits. This is the standard way of sending money home to India from foreign income.
But you don't NEED to open it after getting a student visa and moving to Australia. No one would ask you for it. Open it whenever you start earning in Australia and need to send that money to India.
 
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