A Resident Foreign Currency account in India can be maintained by a Non-resident Indian who

 has returned home for permanent settlement, after staying abroad for a minimum period of one

 year. An RFC account can be opened without any regulatory approval from the Reserve Bank of

 India.

 RFC accounts can be maintained in USD/EUR/GBP/JPY/AUD/CAD in the form of Savings / Term

 Deposit

 Credits to the account can in any of the following means:

 Balances standing to the credit of NRE and FCNR accounts at the time of return

 Income from overseas assets or sales proceeds from overseas assets

 Entire amount of pension received from abroad

 Balance in the account can be remitted abroad for bonafide purposes either for yourself or your

 dependants.

 If you decide to go abroad again you can transfer your funds to NRE/FCNR account(s)