Can I Manage My Offshore Account Online?

Yes, you can manage your offshore account online. Generally, most offshore banks provide digital banking platforms for account management.

NRI Banking Services

Overseas Bank Account for NRIs

By Varun Gupta |Last Updated: November 18, 2025

In the present era of globalization, managing finances across borders for NRIs has become quite complex. Add in currency fluctuations, local bank restrictions, and international fees, and suddenly your global ambitions have a lot of admin. This is why many NRIs opt for overseas banking. It reduces foreign exchange costs, holds funds in foreign currency, and eases cross-border payments.

Want to know more about an overseas bank account for NRIs and why it is beneficial to have a part of the funds in these accounts? Read on and get your answers.

Varun Gupta(Tax Expert)

Mr Varun is a tax expert with over 13 years of experience in US taxation, accounting, bookkeeping, and payroll. Mr Gupta has not prepared and reviewed over 5000 individual and corporate tax returns for CPA firms and businesses.

Frequently Asked Questions

Usually, any Indian origin person who stays outside India for more than 182 days in a financial year is classified as an NRI. However, by jurisdiction, specific requirements may vary.

To open an offshore account, common documents include passport, address proof, reference letters from existing banks, employment verification, and source of fund documentation.

Yes, offshore accounts are legal for NRIs when compliant with tax regulations and properly declared in both India and the country where you currently reside.

The minimum deposit requirements for offshore accounts vary by your account type and bank, ranging from a few thousand dollars to several thousand dollars if you opt for private banking services.

The taxation on offshore investments depends on the country in which you reside, where your offshore account is located, and Indian tax laws.

Overseas Bank Account for NRIs

Frequently Asked Questions

Who Qualifies as an NRI for Offshore Banking Purposes?

What Documents Are Typically Required to Open an Offshore Account?

Are Offshore Accounts Legal for NRIs?

What Are the Minimum Deposit Requirements for Offshore Accounts?

How Are Offshore Investments Taxed?

Overseas Bank Account for NRIs

Frequently Asked Questions

Who Qualifies as an NRI for Offshore Banking Purposes?

What Documents Are Typically Required to Open an Offshore Account?

Are Offshore Accounts Legal for NRIs?

What Are the Minimum Deposit Requirements for Offshore Accounts?

How Are Offshore Investments Taxed?