Yes, a non-resident Indian (NRI) needs a valid Permanent Account Number (PAN) to open their NRO currency account in India. A PAN is an essential document that helps with smooth transactions and financial purposes in India, and to open an account, you will need to get a valid PAN card in India. It is a 10-digit alphanumeric identification number that the Income Tax Department of India issues.
An NRI can apply for the PAN card application online or offline by applying with all the supporting documents like the proof of address, identification proof, and proof of date of birth. After getting a PAN card, you can easily apply for an NRO account online in India, through which you can manage your foreign income, which you earn in India.
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What are the required documents that you will need to open an NRO current account in India?
Features of an NRO current account in India:
Here is the list of the documents that you will need to open an NRO account in India: