Money and tax · In Ireland
3 things here, listed by the question each one answers.
- What happens to my Indian bank account once I live in Ireland?Guide
A resident savings account stops being the right account the day you stop being resident. It becomes an NRO; an NRE is the second account, and the difference between them is repatriability and tax.
- How much money can I move between India and Ireland, and what does it cost?Guide
Which rule applies depends on which side of the FEMA residence line you are on. The LRS governs money leaving India while you are still resident; once you are not, the NRE and NRO rules take over.
- Will I be taxed in both India and Ireland the year I move?Guide
The year you move, both countries can call you resident. Each has its own day count, and a treaty decides which one wins and who gives credit for the other.