The minimum investment in PMS/limit to avail Portfolio Management Services for both NRIs and Residents is Rs.50,00,000/- (Rs. 5 Million). This can be done either by paying through existing funds or through the transfer of an existing investment portfolio to the service provider. How to invest in PMS? Portfolio Management Services (PMS) can be […]
Can NRI invest in PMS? Before understanding that, let us first learn about what is PMS or Portfolio Management Services (PMS) Portfolio Management Services (PMS) can be understood as the management of funds of HNIs (High Net-Worth Individuals: A wealthy person, in particular one with investable assets in excess of $1 million) by […]
Portfolio Management Services (PMS) can be understood as the management of funds of HNIs (High Net-Worth Individuals: A wealthy person, in particular one with investable assets in excess of $1 million) by various wealth management companies or Portfolio Managers (people responsible for handling your account) who invest these funds into a varied range of stocks, […]
SIP for NRI: SIP is not tax free for NRIs. Different types of Mutual Funds are taxed differently: *(Equity Funds: An equity fund is a mutual fund that invests principally in stocks) *(Debt Funds: A debt fund is a mutual fund that invests in fixed-interest generating securities such as corporate bonds, government […]
Yes. An NRI can open a joint account with a resident but only on “former or survivor” basis and that too only for a NRO Account. The term “former or survivor” basis refers to the condition where only one of the two joint account holders, “Former” can operate the account. The “Survivor” can only operate […]
The following people can be a nominee in an NRI Bank Account: Any Resident of India Any Non-Resident Indian A minor (a person below 18 years of age); in this case a guardian needs to be appointed on the minor’s behalf Refer to the following table to understand the process to update a nominee […]
There are various methods to transfer money from India to the USA. Refer to the grid to choose the best medium for yourself: (Related Category: Remittance) Transfer money from India to the USA *Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of […]
No. There are no taxes on money transferred from India to Middle East. Also, There are no income taxes in the Middle East. So, the tax implications are eliminated automatically. Taxes on money transferred from India to Middle East based on the account chosen: NRE: The NRE account can be opened for the purpose […]
The limit to transfer funds from your NRI accounts in India to your overseas account in USA vary with respect to the types of accounts chosen for remittance: Limit of transfers from India to USA NRE Accounts: There is no limit for repatriating funds from NRE accounts as it is fully and freely […]
You can send money from India to Middle-East from either of your NRI Accounts. The taxes on sending money from India to Middle-East depends on the type of account chosen. Taxes on sending money from India to Middle-East: NRE: The NRE account can be opened for the purpose of maintaining the income earned […]