NRI Centre

A person residing outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI. The definition of Person resident outside India is defined under section 2(w) of Foreign Exchange Management Act, 1999 as "a person who is not resident in India".

A person shall be deemed to be a person not resident in India in the following cases:-

1.When the person stays in India for less than or up to 182 days during the preceding financial year.

2.When a person who has gone out of India or who stays outside India, in either case -

  • for or on taking up employment outside India, or
  • for carrying on outside India a business or vocation outside India, or
  • for any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period

The definition of 'Person of Indian Origin' is defined under section 2 (b) of Foreign Exchange Management (borrowing and lending in rupees) Regulations, 2000 and under section 2 (xii) of Foreign Exchange Management (Deposit) Regulations, 2000 as given under:-

"Person of Indian Origin' means a citizen of any country other than Bangladesh or Pakistan, if

1. he at any time held an Indian passport; or

2. he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or

3. the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b)"

Person of Indian Origin (PIO) for the purpose of acquiring immovable property in India as given under:-

"Person of Indian origin' means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who

1. at any time, held an Indian passport; or

2. who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955)"


Proof of both identity and residence (any 1)

1. Valid Passport (mandatory)

2. Voter ID Card

3. Aadhaar Card

4. Valid Driving Licence

Proof of Income

1. Photocopy of the Employment Contract / Appointment Letter

2. Last 3 months' Salary Slips / Certificates specifying the following:

  1. Name (as it appears in the Passport)
  2. Date of joining
  3. Passport Number
  4. Designation
  5. Perquisites and salary

3. Photocopy of last 6 months' Bank Statements, showing salary credits

4. Photocopy of last 6 months' Bank Statements of the NRE / NRO account in India

Other Documents

1. Photocopy of the valid resident Visa stamped on the Passport

2. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across

3. Past occupational history

Property related documents

1. Copy of the Allotment Letter / Buyer Agreement

2. Receipt/(s) of payment/(s) made to the developer


Proof of both identity and residence (any 1)

1. Valid Passport (mandatory)

2. Voter ID Card

3. Aadhaar Card

4. Valid Driving Licence

Proof of Income

1. Last 3 years’ Income Tax Assessment of the individual

2. Bank statements for last 6 months of the overseas salary / savings account as well as NRE / NRO account

3. Latest credit bureau report (available on www.creditbureau.com.sg)

B1. For Directors in a Pvt. Ltd company

1. Company's Annual Reports or Profit & Loss A/c Statements and Balance Sheets for last 3 years

2. Company's Income Tax Assessment for last 3 years

4. Salary Certificates or last 3 months' Salary Slips if available

B2. For Sole proprietors

1. Profit & Loss A/c Statements and Balance Sheets for last 3 years of the business concern

2. Current account bank statements for last 6 months

B3. For partners in a Partnership Firm

1. Copy of Partnership Deed

2. Firm's Annual Reports or Profit & Loss A/c Statements and Balance Sheets for last 3 years

3. Firm's Income Tax Assessment for last 3 years

4. Current account bank statements for last 6 months

5. Salary Certificates or last 3 months' Salary Slips if available

Other Documents

1. Business profile & company's registration with ACRA

2. Photocopy of valid resident Visa stamped on the Passport

3. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across

4. Cheque for processing fee favouring ‘HDFC Ltd.’ in Indian Rupees

5. Details of the ongoing loans of the business entity and the individual along with photocopy of the sanction letter

Property related documents

1. Copy of the Allotment Letter / Buyer Agreement

2. Receipt/(s) of payment/(s) made to the developer


Housing Loan in rupees availed of by NRIs/ PIOs from ADs / Housing Financial Institutions in India can be repaid by the close relatives in India of the borrower.