Bank KYC Updation: Ensure that your Know Your Customer (KYC) details with your Indian bank accounts are up to date. This is essential for seamless banking transactions during your visit.
Convert D-mat/Bank Account to NRO: If you have existing Demat or bank accounts, consider converting them to Non-Resident Ordinary (NRO) accounts, which are suitable for NRIs.
Get e-PAN Card and Update Details: Having a single PAN card is essential for financial transactions in India. Ensure your PAN card details are correct and consider getting an e-PAN card if needed.
Aadhar Card Update: If you have an Aadhar card, ensure it's updated with your current information. Aadhar is increasingly becoming essential for various services in India.
Get an Indian Mobile Number: Having an active Indian mobile number is crucial for receiving OTPs and staying connected during your visit.
Verify Property with Personal Visit: If you own property in India, it's a good idea to visit and verify its condition, especially if you plan to sell or rent it.
Check Previous Loans and Collateral: Review your loan history and ensure that all loans are cleared. Obtain nil balance certificates for cleared loans, which can be helpful for future transactions.
Check Economic Status of Family: Assess the financial well-being of your family members in India, especially if you provide financial support or plan for inheritance.
Check Health Insurance: Ensure that you and your family members have adequate health insurance coverage for your visit. Medical emergencies can be costly.
Set Up a Will: It's advisable to set up a will or consider estate inheritance planning, especially if you have significant assets or properties in India. Consult with legal experts for proper guidance.
Operate and Update Lockers: If you have bank lockers in India, check and update their status. Ensure that the nominated persons for accessing the locker are up to date.
Inheritance Planning: Beyond setting up a will, consider exploring other inheritance planning options like trusts, which can offer added flexibility and tax benefits.
