NRIs with foreign passports: Avoid buying or keeping property in India. – Currency Loss – You buy in USD, sell in devalued INR. ON top it you pay 20% capital gains tax, it's often a net loss. – Retirement Myth – Most NRIs never return= Never Returning Indian ( NRI). Your kids won’t either. Don’t plan on it and it is pipe dream – Risk of Theft – Unattended property is easily misused or taken by relatives. Legal battles are long and costly. – Inheritance? Sell Fast – Don’t hold on. You’ll likely loose it and never get your fair share.
Parag Parikh MF has stopped taking investment from USA and Canada NRIs. Income generated through bank interest and FDs are only tax free in NRE account . All other income generated are taxed.
While I am thankful to the presenter and the channel for making this video.
But at the same time, I like to warn every NRIs about current freaky Indian government and policies. Repatriation of money from India to any foreign country was always costly and complicated, and now the bank related RED tape is all time high.
Before 2016, every NRI, I know would keep 10k-50k Indian rupees at home throughout the world, to use it during the next India trip. But after 2016 and 2023 (2k) demonetization, no NRI keeping any Indian rupees and now most of the foreign bank do not exchange Indian rupees.
When its comes to withdrawing money from Indian bank (specially government bank), forget about NRI, even Indian citizens had hard time. My parents and every senior member of my family were harassed every 3-6 months with frozen accounts, just because they are not online users. Before 2014 without court approval no bank could freeze any account. But now it's legal for banks to freeze any bank account including senior citizens without any court order. Death of democracy.
Final nail in coffin, most of the banks in India are government banks. and they will never provide paperwork on time. So, in case of conflict there will be court case as "you vs government of India, where no citizens (Indian or NRI) ever going to get justice.
No doubts , A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
investing in Commercial Real Estate… which doesn’t pay higher interest; but Iwould be the share holder of the invested property (whose property value on long term will go up &) if the property is not rented but sold; the investor will also get a piece of the profit … is it a good & worry free investment
23 comments
Complete course on money management: https://www.sahilbhadviya.in/
NRIs with foreign passports: Avoid buying or keeping property in India.
– Currency Loss – You buy in USD, sell in devalued INR. ON top it you pay 20% capital gains tax, it's often a net loss.
– Retirement Myth – Most NRIs never return= Never Returning Indian ( NRI). Your kids won’t either. Don’t plan on it and it is pipe dream
– Risk of Theft – Unattended property is easily misused or taken by relatives. Legal battles are long and costly.
– Inheritance? Sell Fast – Don’t hold on. You’ll likely loose it and never get your fair share.
Thank you
Very precise and very very informative. Thank you for the information 🙏
Nice name : sahi bhadva
NRIs must never invest in India. Resident Indians are taking the money out of the country. Only fools would invest in India and fall in the IT trap.
At the moment, ICICI is offering 11% interest to their NRE customers on a "guaranteed retirement plan" over 10 years of investment …
We can invest in MF and shares from NRO account, please clarify
Excellent video. Given all required information for NRI.
All say invest carefully.. but there is correct suggestion where to invest…
not exactly sure why u said ULIP is bad😊 can u please let me know. No yax on ULIP
Sahil this is two year old video. Can you redo the same topic for this year, as some rule might have happened
Nicely presented. Thank u
What are the best platforms for investing in mutual funds in India for NRIs which provide all funds in one platform
Parag Parikh MF has stopped taking investment from USA and Canada NRIs.
Income generated through bank interest and FDs are only tax free in NRE account . All other income generated are taxed.
While I am thankful to the presenter and the channel for making this video.
But at the same time, I like to warn every NRIs about current freaky Indian government and policies. Repatriation of money from India to any foreign country was always costly and complicated, and now the bank related RED tape is all time high.
Before 2016, every NRI, I know would keep 10k-50k Indian rupees at home throughout the world, to use it during the next India trip. But after 2016 and 2023 (2k) demonetization, no NRI keeping any Indian rupees and now most of the foreign bank do not exchange Indian rupees.
When its comes to withdrawing money from Indian bank (specially government bank), forget about NRI, even Indian citizens had hard time. My parents and every senior member of my family were harassed every 3-6 months with frozen accounts, just because they are not online users. Before 2014 without court approval no bank could freeze any account. But now it's legal for banks to freeze any bank account including senior citizens without any court order. Death of democracy.
Final nail in coffin, most of the banks in India are government banks. and they will never provide paperwork on time. So, in case of conflict there will be court case as "you vs government of India, where no citizens (Indian or NRI) ever going to get justice.
How to invest in ETF in Indian market for a USA based OCI NRI ?
Great informative video 👌👍
No doubts , A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
I am considering investing in iShares MSCI India UCITS ETF with USD funds through London Stock Exchange.
investing in Commercial Real Estate… which doesn’t pay higher interest; but Iwould be the share holder of the invested property (whose property value on long term will go up &) if the property is not rented but sold; the investor will also get a piece of the profit … is it a good & worry free investment
Groww is currently not supporting NRI demat accounts, hence choose others.
Please make a video for mutual fund NRI reportable income Tax return .2023