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I don't know where I can post this, but since this is the only NRI related thread, I am posting my draft write up here:

The financial journey so far in becoming an NRI

I have been talking to various people and collect basic information on what needs to be done and when, for someone who will some become an NRI. The scope here is about wealth and finance only. Please feel free to contribute and correct me.

Bank accounts:
The savings bank accounts need to be converted to NRO accounts (account number remain the same). It is just a status change (not sure if we get a new cheque book or if the old one continues to be valid).
In addition, I may opt for an NRE account which would be a new account where I can park overseas earnings and even invest from that account into equities.
HDFC said, that they can convert my account based on work-permit, employment offer and a few other documents. Address of overseas office can be used during initial process.

Demat accounts:
My current demat account provider FundsIndia tells me that I have to close this account and open a new demat account with them after obtaining a Portfolio Investment Scheme (PIS) letter and some other paperwork such as new KYC.
For the PIS, I have to approach HDFC where I have existing savings account.
For demat account I need to do two things:
1. KYC, which needs overseas address where the following three proofs are acceptable - Driving License / Bank statement / rental agreement. Hence this is a challenge.

2. Bank side steps: HDFC suggests that I convert the existing savings account to NRO account and if required open an NRE account additionally. During the same step, they will also create this PIS ‘account’ and that would be about Rs. 2000 one-time and about Rs. 1000 annually. Demat account fee of Rs. 200 per year is charged by FundsIndia.
At the end of all the paperwork, I can invest into BSE stocks from my NRO account and book profits on existing stocks and get credit into the same account (all of this is money from Indian income sources.)
However, if I wish to invest my overseas income into Indian stocks, then I need to (possibly) invest via NRE account which needs to be mapped to demat account (somehow). It is unclear on what is exactly needed for this scenario.

Mutual funds:
Since I have a sizeable portfolio in mutual funds in my name and my minor child’s name, I would like to hold on those for a long term.
After talking to fund houses (Franklin and Mirae), I understand that I need to first change to NRO account, then do a KYC where my status should change to NRI. Once that is done, I can invest using the NRO account in the mutual funds.
It is unclear how overseas funds/ income in NRE account can be invested in mutual funds
For the minor child as well, KYC needs to be done separately I assume.
I have also been advised by charted accountant that I should stop all my SIP’s while in India, do KYC and then once you are overseas, start investing as NRI. This is just to have a clear separation of investments done as an RI v/s investments done as an NRI.