Invest In India

According to the Central Statistical Organization of India, the advance calculation of economic growth rate for 2006-2007 has already crossed the 9% mark. India has also secured the number one place globally as wealth creator – a position mainly contributed to by its dynamic stock market and handsome returns.

NRI remittances may mean valuable foreign exchange for India, but for many households, it is a means of making two ends meet. Whether it’s a semi-skilled laborer in the Gulf or a software professional in Silicon Valley, every other NRI sends a part of his or her earning back home.

Incomes of NRIs are exempt from income tax interest on various specified securities or bonds. NRIs enjoy tax exemptions from property investment and other assets including dividend income, interest income, and even gifts! Read on and find out what tax exemptions you could enjoy as an NRI.

There are several formal channels to transfer money to India. All the service providers generally charge a commission or fee for their services. The amount of fees charged usually depends on the total amount you wish to transfer and also the desired time limit within which you wish the recipient to receive the money.

Here is some basic information of the various accounts that an NRI can hold in India.
The type of accounts:

1. Non-Resident External (NRE)
2. Non-Resident Ordinary (NRO)
3. Foreign Currency Non-Resident (FCNR)

NRE Savings Account

Whether you are a salaried employee, a professional, an entrepreneur or even a student, an NRE account is something that can benefit you immensely since it offers significant Advantages:

• Get higher interest rates
• Interest earned is not taxable in India
• Use any currency to credit the account.
• Maintained in Rupees, giving you a liberty to Invest in India
• You can always take the money back overseas, whenever you wish to
• Empowers your family to access your account anytime, anywhere in India
• You can maintain a minimum balance of Rs.