India is the bright spot in the overall gloomy world economies. India is one the fastest growing economies in the world, and therefore no wonder that India is one of the most preferred destinations of the NRIs when it comes to Investing. It is very important that an NRI hires a professional financial company for their various NRI services in India. In the last decade, India has drastically improved its infrastructure facilities, ease of doing business abilities, and various other laws. All these changes will enable India to unlock its growth story.
India continues to attract massive inflows of Foreign Investments. India is one of the few developing countries receiving a steady flow of Foreign Investments in the last few decades. Therefore it makes absolute sense for an NRI to Invest In India. However, an NRI looking to invest in India must look for a financial services provider company that can provide quality NRI Services in India. A professional financial company can cater to all their requirements of the NRIs from investments to taxation. It would also be able to ensure that the NRI complies with all the relevant rules and regulations of India.
Following are the reasons why an NRI must work with a professional financial services provider company for NRI Services in India:
1) One-Stop Financial Services Provider:
A professional financial company providing NRI Services in India would greatly help the NRIs. It would enable them to track and monitor all their investments in one place. An NRI would also get all its requirements satisfied in one place. A professional financial company would take care of an NRI’s Investment, Insurance, Income Tax, and Banking needs all in one place. It will therefore eliminate the need for the NRIs to have multiple advisors or people for the same task.
2) Quality Service:
An NRI is assured of getting quality NRI services in India with a professional company. Most professional financial services companies tend to have a process-driven approach to keep things simple and efficient. Moreover, professional companies have well-trained and experienced employees that can better cater to the requirements of the NRI.
3) Taxation Compliance:
A professional financial company will help the NRIs in proper tax compliance as well. A company providing comprehensive NRI services in India would ensure that the NRI is tax complaint in India. NRI Investments are subject to various taxes like Short Term Capital Gain Tax (STCG) or Long Term Capital Gain Taxes (LTCG), etc. It is here that a professional financial company would ensure that the NRI pay the necessary taxes as per Indian rules. A experienced financial company will therefore keep the NRI tax complied as per the Indian rules and regulations.
4) Tax Planning:
Not only does a financial company help an NRI in Tax Compliance, but it also helps an NRI in Tax Planning. Tax Planning is a process through which a financial company reduces the NRI’s tax burden. The NRIs tax burden is reduced while staying within the legal ambit of rules and regulations of the Indian Income Tax Act. A professional financial company would know the various deductions and ways an NRI can reduce its overall tax liability.
5) Experience:
A professional financial company providing NRI Services with years of experience would be better equipped to handle NRI’s needs. An experienced company would be well-versed in the intricacies of an NRI investment and other requirements. A professional financial company would also be aware of various laws and regulations that streamlines the NRI’s investment process.
