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Becoming an NRI

This is mostly a journaling thread with discussions around the things that needs to be taken care of once someone becomes an NRI.

I have been travelling in and out of India for quite few years now and keeping in mind that I stay atleast 180 days to not loose my residency status. But now, I have decided to drop my residency status in India. Which means I need to clean up my banking and financials in India and move them to be categorized as NRI status.

I hold over a dozen of Credit Cards, at least 4-5 bank accounts and a couple of DEMAT Accounts. Plus I need to figure out how to handle my company as a non resident director and take care about the FEMA laws and all.

At this point, I don't really know how all of that will happen but I am sure I will figure it out. (as if there is any choice, lol).
I will use this thread for noting my journey over the next 6 months or so for this complete transition. So hopefully post that we can have a good summary for anyone in the future who is migrating to abroad.

Any help from experienced members here is much appreciated. If you have converted from a resident to a non resident, please share your journey and experience.
Thank you
Thread may be a guidance to all
 
Closing BNPL lines and wallets and NBFC Credit Cards.
Starting with Kiwi.

Process is simple - Send an email to service@gokiwi.in, mention you want to delete account. They will ask for reason, give reason. Then they will try to retain you by calling. I didn't pick any, then they will send email that couldn't reach on call, asking for confirmation over email. Then give final consent. That's all. they will proceed with deletion of the account. It takes ~24 hours for them to do.

I am on the last step, they confirmed deletion today on Monday, so I will now wait till Wednesday.
Will post here once I get confirmation.

1766396503714.webp
 
For lazypay, they asked for reason and type of deletion... There is apparently temporary and permanent. Also, once deleted, I cannot ever use Lazypay again., replied with permanent closure, main reason is because it serves no purpose now.
I used to use it casually for Zomato, but not needed anymore. Initially I had their Credit Card also, but then they discontinued that.
Asked for No dues certificate. That is important.
 
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For lazypay, they asked for reason and type of deletion... There is apparently temporary and permanent. Also, once deleted, I cannot ever use Lazypay again., replied with permanent closure, main reason is because it serves no purpose now.
I used to use it casually for Zomato, but not needed anymore. Initially I had their Credit Card also, but then they discontinued that.
Asked for No dues certificate. That is important.
Closed Lazypay. Pretty smooth process. Got the No dues as well. Will take a print and keep for safekeeping.
1766419603986.webp

Next up, Slice. I had their Credit Card also, then they discontinued but I still had their account and all. It's useless, will close it as well.
 
Closing my Niyo bank account and SBM accounts completely.
These accounts were opened purely for the Niyo global card and now that I have Wise, I don't need this card anymore. So, closing this as well.
 
Closing ICICI Platinum Card, a prepaid wallet called as SlayPay and another one called as OmniCard.
They are unnecessary things I need to cut down on.
 
Will have to build AI for cleaning now
Artificial Intelligence Ai GIF by NeighborlyNotary®

Good Morning Ai GIF by PEEKASSO
 
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