SBI NRO account opening application for Foreign Tourists

Based on the provided NRO Account Opening Application for foreign tourists at State Bank of India (SBI), here are the key points regarding eligibility, operations, and documentation:

Account Eligibility and Restrictions

• Target Audience: This specific application is strictly for foreign tourists only.

• Minors: Foreign tourists who are minors are not permitted to open this account.

• Ownership: Joint accounts are not permitted; the account must be held individually.

• Operation Mode: The permitted mode of operation is “Self only”.

• Power of Attorney (POA): Using a Power of Attorney to operate the account is strictly prohibited.

Operational Rules

• Funding: The account can only be credited with foreign funds or interest accrued within the account; local funds cannot be deposited.

   

• Visa Expiry: Operations in the account will be stopped immediately upon the expiry of the holder’s Visa. Maintaining the account beyond this date requires specific approval from the Reserve Bank of India (RBI).

• Repatriation of Funds:

  • If the account is maintained for six months or less, funds can be repatriated abroad without RBI approval.

     

  • If the account is held for more than six months, the holder must apply to the concerned Regional Office of the RBI for repatriation approval.

• Correspondence: All bank communications will be sent to the provided Indian (current) address only.

Required Documentation

Applicants must provide certified translated copies if any identification proof is in a foreign language. Required documents include:

• Photos: Two passport-size photographs (one for the application, one for the passbook).

• Proof of Identity/Status: Relevant pages of the Passport and a valid Visa.

• Proof of Tax Residency: A document mentioning the Tax Identification Number (TIN) or a certificate of residence issued by an authorized government body.

   

• Proof of Indian Address: A self-declaration of the Indian address supported by a utility bill, rent receipt, or acknowledgement of correspondence.

Application Instructions

• Format: The form must be filled in BLOCK letters using black ink for signatures.

   

• Signatures: Signatures in capital letters are unacceptable. The applicant must use uniform signatures across all sections of the application and for all future transactions.

   

• Corrections: Any alterations or corrections on the form must be authenticated with a full signature.

   

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