We identify our NRI division as a one stop destination for NRI related Financial, Investment and Taxation services. NRIs comprise a substantial portion of our current client base. Our continuous endeavor is to provide quality services to our valuable clients. We offer a whole spectrum of NRI related services to our clients spread across the globe. We extend our services from handling NRI investment related queries, to providing excellent solutions to NRIs regarding setting up business in India, to NRI Banking Solutions, to assisting returning and emigrating Indians. Our NRI Consultancy Services, which involves all the above aspects and solves many more issues interfacing with Indian and Foreign Taxation Laws. We have credible experience of providing multitude of services to a diverse clientele profiles. We always strive to provide value added services to our clients through strong customer relationship management.
We Serve…..
- Emigrating Indians/New NRIs
- NRIs who intend to remit funds from India to Abroad or vice versa
- NRIs who have/intend to have investments in India
- NRIs who inherit assets in India
- NRIs who have/intend to set up a business in India
- Returning NRI
- NRIs who are subject to report under Foreign Taxation Laws
Emigrating Indians / New NRIs:
India has one of the world’s most diverse and complex migration history. In the present globalized world, migration of people from one country to another, for employment has become a common phenomenon. Emigration to the different countries has been most manifest in the growth of trade and financial flows of India. An emigrating Indians/New NRIs are crucial to the Indian economic development. We help them in the following matters:
- Facilitate repatriation of sale proceeds and income of assets held in India
- Determination of residential status in India
- Plan for NRIs tax liability in India
- Appplication for obtaining PAN number and filing of Income Tax return in India
- Opening up various bank accounts and compliances thereof
- Opening a Portfolio Investment Scheme account in respect of Stock Market transactions
- Monitor, record and report about his/her investments in India
- Facilitating execution of Power of Attorney
NRIs who Intend to remit funds from India to Abroad or vice versa:-
The Indian foreign exchange market has operated in a liberalized environment for more than a decade. Nobody can doubt the contribution of foreign exchange remittance in the economic development of India. We facilitate our clients to conduct hassle free remittance transactions as follows:
- Opening of various bank accounts in India namely ‘Rupee Accounts’ like NRE A/c, NRO A/c and ‘Forex Accounts’ like FCNR A/c and RFC A/c
- Issuance of CA Certificates like 15CA and 15CB
- Monitoring of your bank accounts with regards to various compliances and also effective tax planning for credited amounts
- Repatriation of sale proceeds of residential and immovable property in India, current income repatriation like interest, dividend, pension, rent etc.
NRIs who have/intend to have investments in India:
Investing in India, when living abroad, has always been the safe route to ensure good financial gains and securing future-return plans to the country. We can provide you the needed advisory and assistance in taking the best decision for your real estate properties and investments which will definitely form a larger part of the portfolio of assets. We assist our clients to invest in a very efficient and effective way as follows:
- Suggesting balanced allocation between Fixed Income investments, Equity based investments and Real Estate properties
- Recommending best investment option in light of Indian laws
- Advising allocation of investments in the most convenient routes such as Mutual Funds, Govt. Risk-free bonds, Securities, Fixed Deposits and Quality Real Estate projects
- Suggesting various reinvestment options to minimize Capital gain tax
- Monitor, record and periodically report on such investments
- Facilitate repatriation of income from investments and rent
- Facilitate liquidation/lease of property
- Facilitate repatriation of sale proceeds
- Complete banking and other regulatory formalities
NRIs who inherit assets in India:
NRIs inherit property from their parents or someone else, have manifold implication of legal issues. At the same time that can be avoided by well thought plan in regard of the property. We can manage these issues well by considering every aspect of the matter as follows:
- Drafting and registration of a WILL
- Representing before tax authorities on behalf of the assesse if required
- Handling of issues relating to inheritance, a succession certificate, mutation of records etc.
- Facilitating repatriate the sale proceeds of the property or manage the same in most tax efficient manner.
NRIs who have/intend to set up a business in India:
The Indian government has played a responsible role in addressing the financial investment needs of its cash-rich, non-resident diaspora. Adopting a multi-level approach, the government has tried to ensure holistic investment opportunities for the wide-spectrum of foreign investor profiles. Recently India has become the land of opportunity for many NRIs, to invest under “Make in India” and other investor friendlyschemes. Setting up business in India by NRIs attract various legal compliances. We enable him/her to do so by providing the following services:
- Arrange finance for the project by preparing a detailed project report and liaison with banks/ financial institutions and joint venture partners
- Tax planning via different forms of entities like Trusts, Companies, Firms, etc.
- Develop an entry strategy and a financial model
- Evaluate potential partners by carry out financial due diligence reviews
- Advising on appropriate compliance for complete set of regulatory approvals
- Provide insight about various Foreign Direct Investment Schemes and benefits under the same
- Facilitate liquidation/lease of property
- Determine the form of entity and process related to incorporation of the same
Returning NRIs:
Returning to India for good is a big decision and involves various aspects to be considered in order to re-establish settlement in India without omitting any legal compliance. When relocating to India, the following aspects must be taken care of:
- Taxability of Income earned in and outside of India in respect to the Indian Income Tax Act, 1961
- Interpretation of DTAA with a view to reduce tax liability
- Reorganize your asset portfolio in India/outside India with professional assistance to ensure minimum tax liability
- Planning the date and month of return to India to reduce tax liability
- Residential status under different laws
- Compliances with respect to the ‘Income-Tax Act, 1961’ and filing of Indian Income Tax Return
- Re-designation of all Indian bank accounts as Resident accounts and taxability thereof
- Opening and complying with respect to ‘Resident foreign currency’ (RFC) account
NRIs who are subject to report under Foreign Taxation Laws:
NRIs are subject to the tax laws of different countries or the international aspects of an individual country’s tax laws as the case may be. Governments usually limit the scope of taxation of income in some manner territorially or provide for offsets of taxation relating to extraterritorial income. Each country has separate laws in respect to levy tax on the taxpayers. Because of varying nature of laws in different countries NRIs have to disclose certain assets and investment made overseas. We assist in the following manner:-
- Provide understanding of various Foreign Taxation Laws
- FATCA and CRS reporting requirement and processes related to it
- FBAR reporting and implications of it
- Declaration under PFIC reporting
- Helping to opt under various Voluntary Disclosure Schemes
- Planning of various investments across the globe in a tax effective manner
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Q. What are the differences between a Mutual Fund and a Portfolio Management Service (PMS)?
