Any eligible person can open the account with an authorized dealer. The RFC application must be accompanied with the following documents:

• An attested copy of relevant pages of passport giving passport particulars, date of arrival in India and particulars of residence outside India
• Documentary evidence to show that funds proposed to be credited to the account are eligible for the purpose

• Citizens of India or PIOs who have been non residents for a continuous period of not less than one year have become resident in India on or after 18 April, 1992
• Citizens of India or PIO who returned to India prior to 18 April, 1992; and they have specific licence from RBI to hold RIFEE account
• If the person once again goes abroad and becomes non resident then the balance available in RFC account can be repatriated abroad or the accounts can be converted into NRE or FCNR accounts