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Updating my NRI status for KYC,mutual fund,stock and other investment?
I have my investment made as indian resident. Now i am planning to register myself as NRI since i moved to US for employment from last year.
Mutual fund,Stocks,savings account,KYC all are created and registered as resident. Now when i ask my banker he is suggesting me to close all this and reopen new account.
I dont want to redeem mutual fund/sell stocks but would like to retain them and update my status alone to NRI. Is that possible?
3 Answers
- Anonymous9 years agoFavorite Answer
Better close your account & reopen it coz you cant use 2 pan card or 2 identity
- ranjankarLv 79 years ago
You can update your KYC.
Fresh investments can be made from your NRE a/c.( open an account if you do not have one)
Your existing investments can remain . Your existing bank a/c will be made NRO .
You do not have to sell.
- dufreneLv 44 years ago
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