Today, India has become the preferred investment destination for individuals as well as financial institutions / large corporate/s, etc. It is therefore not surprising to see thousands of Non-Resident Indians flocking to the banks to open accounts and surveying various options to park their money. However, it is easier said than done. The reason is because of sweeping changes in the Indian financial and investment arena.
However, all is not lost. Investment consultants like us can make your tasks a walk in the garden. GROWCAP Consultancy Pvt. Ltd. provides a plethora of financial services and investment options that are customized and most suitable for NRIs. A point to note: to make investments in India an individual needs to open a bank account. This could be an NRE account (savings, current, recurring or fixed deposits) operated in Indian currency. Interestingly interest earned by NRE account is not taxable. Moreover, the same can be sent back to the source country anytime in a hassle free manner.
The other accounts which an NRI can open are -
NRO or Non Resident Ordinary Account:
This account is generally opened to manage income which is typically derived from within India. This could be dividend, interest or rent from a property. However there is a cap to repatriation amount and some of the financial products are taxable too.
FCNR or Foreign Currency Non Resident:
As the name suggests, NRIs can maintain an account in its native currency. For example, a Canadian NRI can simply open a FCNR Fixed Deposit in CAD $. Moreover, interest earned from such accounts are interest free and fully repatriable. It is also a great choice for individuals who are looking to hedge against constant currency fluctuations.
So, what are some of the investment options for an NRI? Mentioned above are some of the compelling ones.
Remember, GROWCAP Consultancy Pvt. Ltd. can make your money grow by pointing the right mutual fund, and also through timely advises in managing and creating investment portfolio. From Bank deposits to mutual funds, and equities to commodities market, we offer a rainbow of investment platforms which can address all your long term and / or retirement financial issues.
We are experts when it comes to financial planning and at the same time offer intuitive investment avenues for Non-Resident Indians. As mentioned above, you can actually see your money grow over a definite timeline.
If you are an NRI, we strongly suggest that you mail or call us for all your investment goals.