After living in a foreign country, the thought of coming back to India lights up the faces of NRIs with joy and excitement. Moving back to India is a life-changing and emotional decision. The purpose of your return might be for family, retirement, career opportunities, or any other reason. Here’s your one-stop solution for all the resources you will need during your shift to India.
Financial Planning and Transfer of Funds
Firstly, understanding your bank accounts is most important. If you wish to keep your foreign earnings without exchanging them into Indian currency, then an RFC account is the right fit for you. Or, if you want your foreign currency converted into Indian rupees, you can convert your NRE bank account to a resident bank account. But keep in mind the currency exchange rate may affect your earnings.
It is recommended to start this process at least three months ahead of your shift.
Accommodation Adjustment
A safe place to live after moving back to India is absolutely essential for mental peace and safety. If you already have a home in India, then you have lesser stress, but if you don’t have one, you can find a place to call home via various platforms like 99acres, NoBroker, MagicBricks, and many more. You can also search for real estate brokers online in your preferred location. Now it’s totally up to your financial goals and planning whether you want to rent or buy a home.
Insurance Is A Must
Whether you are abroad or in India, you must have insurance, as it helps you avoid financial stress during unforeseen medical circumstances. As an NRI, you have been living abroad for a long time, and when you return to India, you may face sudden climate changes which can lead to health issues. Having insurance will also protect your family financially in your absence. There are many health policies that have a waiting period, so it is recommended you apply for insurance as early as possible.
Pro tip: Don’t delay health coverage. Apply within 60 days of your return to avoid higher premiums or waiting periods.
Child Education and Career Opportunities
The Indian education system mostly focuses on textual learning and high scores in exams rather than a skill-based learning approach. Fitting into this culture can be difficult for your child at the beginning, but you can start by making your child familiar with the system and hire an Indian tutor to help them adjust to the new culture easily. You can watch Struggles NRI Kids Face in Indian Schools (And How to Overcome Them) for a clear picture of the scenario.
Now, finding career opportunities may seem like a difficult task, but with the right kind of approach, you may find a career of your choice, as many Indian organizations value NRIs for their global perspective and experience. Many NRIs, after returning to India, prefer to follow their passion in business. Watch this to kick-start your journey: 3 Low Effort Business for NRIs (Returning To India)
Align Your Documentations
After returning to India, you must update all your documentation, which will help you access services easily, such as getting a loan for business, enrolling your child into a new school, joining a new job, getting insurance, filing taxes, and more. First, update your bank KYC as soon as possible, then get your residential status changed. Update your Aadhaar card and PAN card, and make sure to link them to your bank accounts. One platform that helps manage all your documents in one place is DigiLocker—it’s an app by the government and is accepted everywhere in India.
Conclusion
Moving back to India is not just changing your location but also changing your lifestyle and identity. With a mix of preparation and the right resources, your homecoming can be smooth and rewarding. Embrace the best of both worlds by planning smart, staying informed, and tapping into India’s growing ecosystem of support for global Indians returning home.
FAQ’s
1. What is an RFC account?
Ans- An RFC (Resident Foreign Currency) account lets you keep foreign earnings in foreign currency after returning to India.
2. When should I start my financial transition before moving?
Ans- Start at least three months before your shift to manage accounts and currency conversions.
3. Should I buy or rent a home in India?
Ans- It depends on your financial goals. Both renting and buying have their pros and cons.
4. Why is health insurance important after returning?
Ans- Health risks increase due to climate change, and early insurance helps avoid higher premiums.
5. How can I find accommodation in India?
Ans- Use platforms like NoBroker, 99acres, or MagicBricks, or connect with local brokers online.
6. Will my child face education challenges?
Ans- Yes, initially. Hiring local tutors and early orientation can help.
7. Are career opportunities available for returning NRIs?
Ans- Yes, many Indian companies value global experience.
8. What documents should I update?
Ans- PAN, Aadhaar, KYC, and residential status.
9. How can I manage documents easily?
Ans- Use DigiLocker to store and access them digitally.
10. Is returning to India a big lifestyle shift?
Ans- Yes, but with planning, it can be fulfilling.
Disclaimer: The information provided here is for educational and informational purposes only and should not be construed as financial, legal, or tax advice. Consult with a qualified professional before making any investment decisions. We do not accept any liability for errors or omissions in this information nor any direct, indirect, or consequential losses arising from its use.
