List of things to take care with respect to Finances before moving abroad permanently

List of things to take care with respect to  Finances before moving abroad permanently:  1. Consolidate all the bank accounts and switch to an NRO account (Non - Resident Ordinary account) this account will help us to manage any income we earn in india like rents and Dividends ,  Money will be in indian curriencies  As per the Foreign Exchange Management ACT {FEMA} its illegal and leads to huge penalty if we dont have such accounts  2. Open an NRE account { NOn-Resident External } account , which will allow us to channel the foreign income earned abroad, even the investement made there, into financial avenues in india . This account is Tax free and repartiable, This can be a Joint account as well for the ease of transaction  3.Asses your  equity and mutual fund portflolio and if plan to continue the investment then ensure to update the KYC details with new contact number and address and link the demat and mutul fund account to the NRO account, some hou...