Lately, I was working on projects for financial planning for NRIs and found very common problems in your Investment portfolios. and also, there were some common goals which I would like to highlight here. (Read : Who is an NRI – FEMA and Income Tax rules?) The issues that I found in the respective portfolios
Non Resident Indians and their Financial Planning in India?
It's Not How Much Money You Make...But How Much Money You Keep, How Hard It Works For You and
How Many Generation You Keep It For - Robert Kiyosaki
WHY Financial Planning in India?
Well, NRIs are Non Resident but still Indians. You may have the intention to Come back for good at some point in time. You may like to enjoy your retirement years in your own Country where the cost of living is quite less then your host country.. In today’s kind of tough scenario i have also seen many NRIs are forced to return to India (Due to Job issues), so sometimes it’s not in your hand. You may have accumulated some of your assets while in India before going abroad. You may inherit some assets from your Parents. You may have some of your responsibilities and goal in India. All this requires you to Plan your finances as per the goals in India. Financial Planning helps you organize your finances and helps you take a holistic view of your life , so you can have a better connection between your money and your Life. And work out on your Investments, Insurance, taxes, goals and many other things wisely.
A Good Financial Planning is all about Good Financial habits
How NRI Financial Planning is different and Complex?
It is complex, yes. and this complexity comes from the financial arrangement in the home country as well as where you are currently residing. Your Better investment capacity due to currency conversion makes you a sought after customer of the bank, Insurance agents, Real estate agents etc. which further complicates the structure when you buy their products without having holistic view of your finances. Other issues which makes it Complex are...
Here’s what Our Clients say about
Our Service
Yadvinder Changotra
USA
He Under Promises and Overachieves
Manikaran Singhal is very knowledgeable and trustworthy Financial Planner . He provides a fresh impetus to your personal Financial planning by providing very transparent Pro\Con view of various financial schemes available in the market.His greatest strength lies in his deep knowledge of the Banking Sector along with Insurance and Mutual Funds .
He has always under promised and over achieved which should be a trademark quality of any Financial Planner . Happy to have him provide me with his expert service”
Vivek Shrivastava
Singapore
He educates, examines, and maximizes
Manikaran ; wealth manager for my high-end portfolio has been always looking for the best way for me to maximize my investment. He is knowledgeable about the market and savvy to consumer impressions and misconceptions. His approach is to educate clients in a way that is easily understood. He examines what is presented to him and then lays out a plan with various options that are up to you to decide which you would prefer. He goes over all options and what would result in each option.
What Will NRIs get in Financial Planning?
Broad structure of any financial planning exercise is the same. But the output differs as Ingredients differs with different profiles. As written Above, NRIs Financial plan requires different kind of attention
What We have Written for YOU
Important Tax Planning Tips for NRI Returning to India
Moving from one country of residence to another permanently is never an easy process. It involves a lot of tough decision and considerations, including getting over or suppression of your emotional attachment to that place. Moving from a place that was a home away from home is hard, but it is worth chance if the
Double taxation Avoidance Agreement (DTAA)
Double taxation avoidance agreement or as abbreviation goes DTAA is meant to save Non-Resident Indians from paying taxes on their same Income twice. It is mainly meant for NRIs who have their sources of Income spread across different countries, and thus helps them in not to get taxed for the same income in all the
NRIs Goal based Investments in India
Without Goals there can't be a Plan. Without Plan it is difficult to be in discipline. Without discipline growth will always be in question. NRIs generally plan for their Retirement, House Purchase, Investment Management and sometimes Children education too in there Home Country India.
However, there are some who wants to be Financially free as soon as possible, since they feel that they can save more when they are out of India. Some wants to
save for seed capital for their new business, Some wants their Parents money to be managed well in India
Every Profile is different, Every NRI requirements are different, and so does the Complexity in every profile.
In the whole process lots of things need to be planned and managed. Like bank accounts, Insurances, Employer benefits, Investments, taxation etc. With No social security arrangement in India your planning should cover all the aspects you may foresee needs attention.
Your Financial plan may be different when you are outside India, When you have just returned and when you have already returned. Every step needs a detailed review on all the aspects. which is why more than Financial Plan , the Financial Planning is important. and this is where a Professional and certified financial planner will be of help.
100%
MONEY BACK
GUARANTEE
100% Satisfaction Guarantee
Financial planning is a Fee based Profession. and Since this is now being Regulated by SEBI so many Certified Financial Planners and especially those who are Registered with SEBI, like us work only on "Fee only" structure. This means that we work as Fiduciary and don't earn any commissions from the products that we advise. NRIs are usually accustomed to Fee only advice as this is the norm in many countries and it creates lots of Transparency in the Relationship.
Still, if you did not experienced Financial planning Services before, then just to encourage you and remove the fear of paying from your mind, we offer you 100% money back guarantee, in case you are not satisfied with the Service Quality.