Everyone needs to have a financial plan in place but is it any different for NRIs? Are there financial directions open to an NRI that aren’t viable for many others? Here are the comprehensive answers to these questions.

1. 2018
FINANCIAL PLANNING
FOR NRIS

2. Generate Sustainable Income Sources
Property assets are a great way to generate sustainable income. Renting
out property is a good way to make sure that the market can’t realistically
depreciate the value of your initial investment. This, of course, comes with a
very distinct set of reservations. Firstly, building real estate assets should
be based on local knowledge. Building real estate assets that justify a high
price tag requires imaginative use of the knowledge you possess about the
area you are planning on investing on.
As an NRI, it is always a good idea to develop local contacts you can rely on
for this specific purpose. Secondly, there is reliability and safety in renting
out office spaces. This is especially true with state run mechanisms such as
ATM outlets and public sector banks. The Indian government is constantly
on the lookout to add more public utilities that can make life easier. Making
use of this can have very real long term profits.

3. 2
A whole new business class has emerged in India that is ruthless and
highly service oriented. It is very important to have an objective
perception on what the Indian business market looks like, before you
take the plunge with a new business proposition. There is an
abundance of quality products accumulating in each segment of the
market itself. Startup culture has grown sinews and connected
products and services to the public in ways that were not possible a
few years back. Intricate customer service models are being
aggressively used to retain clients. If as an NRI, the underlying
incentive for you to be part of the business culture that is thriving
currently in India, then research would be the right place to start. Have
an understanding of what has the potential to work and be constantly
aware that the competition you will be facing every step of the way
will be immense.
Understand That India is Changing

4. An NRE account is a good way to make use of the currency disparity to
your advantage. Since NRE accounts are not taxed in India and are
considered to be income earned from abroad, it is a very attractive
option for NRIs to simply chuck money into NRE deposits back in India.
This way capital accumulation is guaranteed. When dealing in financial
mechanisms like NRE accounts, you need to understand that these are
economically oriented instruments which are easily prone to market
fluctuations. As a prudent human being, it is always wise to not
indiscriminately rely on something in the hopes of earning profits. Also,
bear in mind that currency exchange rates are artificially regulated by
governments all the time. Strategic economic policies the Indian
government decides to adopt could one day easily hurt your cash
reserves securely placed in India.
About Those NRE Deposits3

5. Planning on retirement is often a necessary step to take when the
assets you have accumulated over the years are huge. This is why
liquidity should be on top of your agenda long before you are even
considering retirement. Having assets at hand in the shape of bonds
and securities might be a good idea because they are easily converted
into cash. Achieving your retirement objectives, be it a luxurious
vacation home or variable income streams that could be passed on to
your own immediate family, the bottomline should be laid out in stone:
Self awareness about what next. Depending on who you are, forgoing
the idea of regular employment can either be a disappointment to you
or a sweet relief. Chart your retirement angles according to what you
know you want.
Retirement Objectives4

6. The financial advantage of working for economies which are better
placed than our own is not a small one. As an NRI, shrewd planning can
have financial incentives for you and your family that will secure you for
life. Upward financial mobility is usually guaranteed in these instances but
wealth accumulation is not the same as focusing your assets intelligently
for the purpose of generating future income streams. This should, in fact,
be of primary importance moving forward.

7. THANK YOU
: +91-80-39515161 : info@kredx.com