Blogs Frequently Asked Questions

Yes, a transit visa Istanbul for Indians is required if you are exiting the airport or your flight connection requires immigration.

To apply for an OCI, you have two ways: one is through the visament, which is a simple and smooth application process in which you need to choose the application type and fill in the application for OCI application. After that, you need to pay the fees to secure your OCI application for Malaysia and submit all the essential documents for your OCI application. Then, visament experts will review your application form and send it for further verification, then wait for processing and track your OCI application. The second way is through the government website: visit the OCI portal, fill out the Online OCI application form Part-A and Part-B, then submit all the related documents, with a print of the OCI application, to the High Commission of India in Kuala Lumpur and wait for the processing of your OCI application in Malaysia.

To book an appointment for the OCI application, you need to visit the OCI services and enter your passport number and date of birth. And click on the get status button to see the real-time updates for your OCi application in Malaysia.

If you want to change your OCI card, then you need to visit the official OCI services page and go to the “New Miscellaneous application” and select the service you need to change, like passport, date of birth, address change, or occupation change.

Yes, you can travel to India if you have a valid visa for India or have an e-tourist visa, then you can explore or travel to India.

To replace an OCI card, you need to visit the OCI miscellaneous services website where you need to fill are-issue an OCI card by submitting all the essential documents, such as photos, passport, and other documents, with fees for the reissue of an OCI card in Malaysia.

An Overseas Citizenship of India (OCI) is a travel document specified by the government of India for work, live, and stay purposes for people of Indian origin living in foreign countries.

For your OCI card Malaysia, you have to wait for 60 days. The processing time will also depend on the type of application and the details filled in by the applicant.

The fees for different OCI types are: New OCI application RM 1312, OCI application fees for a minor -RM 1312, Duplicate OCI card- RM 486, For lost and damaged OCI cards- RM 486, For any change in OCI or a new passport -RM 132, Re-issue of OCI card -RM 132, PIO to OCI conversion- RM 486.

An NRI can face several disadvantages including financial challenges, tax consequences, and regulatory obstacles. An NRI is not allowed to open new accounts in popular investment options like Public Provident Funds and NSC, they also face the challenge of currency fluctuation, and some banking services in India are restricted for an NRI.

The account you should open depends on the source of your income and financial goals. An NRE account is a good choice for those NRIs who wish to invest in India and repatriate foreign earnings, the interest earned in the NRE account is tax-free and there are no limits on the repatriating funds. On the other hand, the NRO account is good for those NRIs who earn income in India such as rent, dividends, etc. The interest earned in an NRO account is taxable and there is a limit of $1 million per fiscal year for repatriating funds.

Yes, it is mandatory to convert to an NRI account if you wish to move abroad. You need to convert your resident savings account to a Non-resident ordinary or an NRO account to manage your Indian income and to send your foreign earnings to India. It is required by the Foreign Exchange Management Act (FEMA). If you fail to do the same, you may face penalties and may be forced to pay a fine of up to three times the amount in your savings account.

No, OCI and NRI are not the same thing. OCI stands for Overseas Citizen of India while NRI stands for Non-resident Indian. Every Indian citizen who stays outside India for any purpose temporarily or long-term is an NRI. In contrast, a foreign national of Indian origin who is registered as an OCI cardholder is an OCI. Both these terms refer to people of Indian origin who stay outside India. However, both have different statuses of citizenship and rights.

NRE or Non-resident external accounts have several limitations. NRIs are not allowed to deposit money that is earned in India into an NRE account, there may be restrictions on how much and how often can an NRI withdraw money from an NRE account, It doesn't permit domestic transactions, and the value of deposit may vary due to currency fluctuations.

No, you cannot have both a resident and an NRI account simultaneously. This is because the FEMA Act doesn’t allow NRIs to have savings accounts in India. So, you must convert your resident account to an NRI account if you are an Indian resident and became a Non-resident Indian (NRI). You can either close your resident account or get it converted into an NRO account.

NRIs (Non-resident Indians) and PIOs (Persons of Indian origin) both can open an NRE or NRO account.

Yes, an NRI can have both an NRE and NRO account at the same time. Both accounts serve different purposes.

Opening an NRE or an NRO account is not necessary for an NRI. However, it is recommended to open these accounts to manage your finances functionally in India.

An NRI can open a few types of bank accounts in India. Such as an NRE account, an NRO account, and an FCNR account.

FCNR stands for Foreign Currency Non-Resident Account. It is a fixed deposit account that permits NRIs to save their money in foreign currencies in India and also offers several benefits.