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Question #247Financial Education
Financial Education
Question #247

I'm an NRI investor with Fincare services. I've just moved back to India for good. How do I change my investment status from 'Non Resident Indian' (NRI) to 'Resident Indian' (RI) with Fincare services, and with all the respective AMC's?

Changing your investment status from NRI to RI is essential to maintain the right information in your investment records, and for taxation purposes. Fincare services is happy to help you in this regard. To change your resident status from NRI to RI, all you have to do is: Open a Resident Indian Savings Bank Account. Send us the following documents: Your bank account proof – You can send us a cancelled cheque leaf from your RI bank account. However, your name must be pre-printed on it. If your name does not appear on the cheque leaf, then please send us any one of the following documents, along with your cancelled cheque leaf: - A self-attested copy of your bank statement (from one of last three months) - A self-attested copy of your bank passbook with some recent transaction entries Your signed KYC Modification Form with your new address – You can access this form in the ‘Downloads’ section of your account. Besides the other details, please enter your new residency status in this form (Section C, Point 2). Your new address proof – It could be a copy of your driving license, voter ID card, ration card, latest gas bill, Aadhaar card, bank passbook with recent transactions, bank statement, or your landline bill from BSNL. Sign and submit a status change request letter to us - This letter should request for a change in your residency status, and bank account details. Please login to your Fincare services account, and then click here to download a template of this letter. A copy of your passport All these documents should be sent to:
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