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In case a resident Indian become a non-resident, will he/she be required to change the status of his holding from Resident to Non-Resident?

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In case a resident Indian become a non-resident, will he/she be required to change the status of his holding from Resident to Non-Resident?

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As per section 6(5) of FEMA, NRI can continue to hold the securities, which he/she had purchased as a resident Indian. After he/she has become a non-resident Indian, he/she has to transfer the shares to his NRO (Non Resident Ordinary) account.

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