The internet complaint world is full of complaints against misselling done by so-called agents, bankers, wealth managers mostly faced by NRIs (Non-Resident Indians). NRIs own and earn a good amount of money and this is also a curse when you have a bad handler of money. This is the main reason why NRIs should lookRead More
NRIs
Why NRI Want Kids to Get Foreign Education?
I was on a call with an NRI from Dubai. Husband & wife were fond of each other but had one contention… The husband was keen to settle in India after few years but the Wife was not. REASON: She was ready to adjust to any length but she wanted her children to get anRead More
Why & How NRI Should Close Indian Bank Accounts?
It is a fact that many Indians still keep their Indian Bank accounts without converting those to Non-Resident Accounts. This is a huge blunder and against the law. When asked – NRI Should Close Indian Bank Accounts the response they give is – Don’t Know… How To Do It… When to do it? etc etc..Read More
Tax Residency Rules in Some Countries (USA, Canada, UK, UAE & Singapore)
A few days ago I wrote a post on the determination of Tax Residency for NRIs who live or work in multiple countries. The rules are general in nature, as developed by the OECD or UN model. But certain countries also have certain rules of their own to determine residency status for NRIs or citizensRead More
Residency Tie Breaker Rules & Relevance
We all know the individual who wishes to take relief under the Double Taxation Avoidance Agreements (or treaties) has to qualify as a tax resident of one of the countries of the treaty. But how do you assign or determine residency? By applying the Residency Test or following the Residency Tie Breaker Rules as detailedRead More
Understanding RNOR Status & It’s Benefits
Many NRIs who have spent considerable time working abroad, are very keen to shift to India to spend the later part of their life. When you are coming back to India, you need to understand the financial framework & tax laws, investment rules & regulations, governing bodies & many financial institutions. To smoothen the transitionRead More