What's the use of the Foreign Currency Account?

Think of Winvesta like your international 3-in-1 account, where the  Multi-Currency Account forms the base of all your overseas investments including the brokerage account. You can fund different investments like real estate, fixed deposits, startup investing, crowdfunding, etc. along with your US brokerage account from this account. You can receive passive income, rebates, and interest in this account, which you can reinvest into other assets. 

This account helps you diversify and plan your investments, and also allows for goal-based investing like saving for overseas education or retirement in a specific geography. As an example, if you plan to send your child to study in the US for higher education, the multi-currency account lets you convert and hold money in US Dollars, which you can also invest in a US-listed ETF. It also protects you against INR depreciation versus the USD. You can remit money systematically over a few years, rather than a lump-sum payment. Similarly, if you wish to retire in France, you can remit money periodically to your integrated Euro account, buy a property in France and keep collecting any rental income from that in your Winvesta Euro account. In essence, you can start planning for your future international liabilities without worrying about the INR depreciation, or the annual LRS limits.

Also note that when you liquidate any international investments, you would need to withdraw the proceeds back to your Indian bank account in the absence of an overseas account. This means you need to spend double on FX when you send money overseas again, and also end up using your LRS quota again. 

On the other hand, if you withdraw this money into your Winvesta multi-currency account, you can reinvest it in any foreign asset. 

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