NRI investing in India towards his retirement

Mr. Gajanan, age 47, based in Qatar, wanted to invest in India to secure his future income upon returning, enabling him to maintain his lifestyle. The challenge was to find an investment that offers long-term fixed income security while also outpacing inflation and helping him maintain his lifestyle expenses, which are increasing day by day.

What are the Challenges faced by NRI to plan his future income from India?

The biggest challenge is securing the same guaranteed amount in the long term from a regulated plan. Then, the next challenge is increasing income in line with inflation. PPF, a popular retirement investment, is not available for NRIs. Also, NCDs and small savings schemes that guarantee returns are not permitted for NRIs.

Rising Medical cost in India is one of the biggest concern for NRIs coming back to India. Risk of double taxation and confusion around NRI → RNOR → Resident tax status and when to opt for this transition is equally confusing for NRIs.

Solution Provided :

We curated a financial solution for a Long-Term Wealth Accumulation, Wealth Preservation, and Wealth Distribution for Mr. Gajanan. We curated a plan that can give him a regular fixed income for a long period, which is backed by government regulations and also tax-efficient. It also provided him with insurance cover till the age of 85, all in one plan. Payments were made for a short period of 6 years while he was abroad from his NRE account to avoid any tax liabilities with the possibilities of repatriation of funds. This arrangement also helped him simplify his tax situation during investment and after moving to India.

For Wealth Accumulation, we started with SIP to create a retirement corpus that can outpace inflation, all these were done considering his risk appetite. Health Insurance with lifetime renewal is done for the entire family, this takes care of wealth protection against un-wanted medical expenses. All investments are made in companies that are well-regulated by the IRDA and SEBI, which ensures the safety of investments for a long period of time.

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