Bank account in India after naturalization

[del0175]

I am approved already and have the oath in 4 weeks. I have had a citibank NRI account for many years. Now I do not plan to get PIO/OCI -- will simply get a normal tourist visa.

Does anyone know if I can still maintain that bank account in India? A clueless CSR in India that I spoke to said it was OK but I am no longer an NRI. Does India allow foreigners in India to maintain bank accounts?

In the past, I simply got a statement in the mail each year and I included the interest on my taxes. Do foreigners pay any additional taxes on their bank accounts in India?

And please do not tell me that I can continue to maintain an account without disclosing the change in my status (I read that some people continue to buy/sell property even though they are not Indians). I have no desire to do anything fishy. While having an a/c has been helpful since it allows me to send birthday gifts etc to kids very easily but I also know that when I send a US$ check they eventually get the money; it just takes a bit longer.

 

[ginnu]

I am approved already and have the oath in 4 weeks. I have had a citibank NRI account for many years. Now I do not plan to get PIO/OCI -- will simply get a normal tourist visa.

Does anyone know if I can still maintain that bank account in India?
--------YES, you can keeo NRE and NRO accounts in India.
A clueless CSR in India that I spoke to said it was OK but I am no longer an NRI.
Does India allow foreigners in India to maintain bank accounts?
-------------------------YES (even if you dont apply for POI Card still you are still Person of India origin as you had Indian passport or were born in India or your parents are Indian Citizen)
In the past, I simply got a statement in the mail each year and I included the interest on my taxes.
Do foreigners pay any additional taxes on their bank accounts in India?

And please do not tell me that I can continue to maintain an account without disclosing the change in my status
------------------------------------------Those who had saving accounts with Indian banks before they immigrated many keep those accounts and bank does not have any info if you have immigrated. According to RBI rules one need to update the bank so that saving account should be converted to NRO account (non Resident Account). Even if you inform many banks don’t update the account in small cities and even the clerk don’t know the difference between Ordinary saving account or NRO and NRE accounts. you can inform the bank writing your account number if you have saving account. if you have NRI or NRO account no need to inform.

(I read that some people continue to buy/sell property even though they are not Indians).

I have no desire to do anything fishy. While having an a/c has been helpful since it allows me to send birthday gifts etc to kids very easily but I also know that when I send a US$ check they eventually get the money; it just takes a bit longer.

**** if you send the check then it takes more time. you can use ICICI bank
Money2india
or remit2india
both take 5-6 days

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