nri-wealth

NRI wealth management — residential status, FEMA compliance, DTAA optimization, NRE/NRO structuring, repatriation planning. Use for NRI tax or cross-border investment questions.

NRI Wealth Management

Step 1: Determine Status

Ask the user:

  1. Country of residence
  2. How long have you been abroad?
  3. Days spent in India in the last financial year
  4. Indian citizenship or OCI?
  5. Planning to return to India?

Classify: NRI / RNOR / Resident.

Step 2: Account Structure

Recommend NRE/NRO/FCNR split based on:

  • Foreign earnings → NRE (tax-free interest, fully repatriable)
  • India income (rent, dividends) → NRO (30% TDS, USD 1M/yr repatriation)
  • Currency risk averse → FCNR(B) (foreign currency, tax-free)

Step 3: Investment Plan

Based on country:

  • US NRI: Avoid Indian MFs (PFIC trap), use direct equity or US-domiciled ETFs. File FBAR/Form 8938.
  • UAE NRI: Maximize NRE FDs (no tax anywhere). Consider LRS for international diversification.
  • UK NRI: Remittance basis option. Watch UK CGT on India assets.
  • Singapore NRI: No CGT in SG. India-SG DTAA (revised 2017).

Step 4: Repatriation

NRO → Abroad: Form 15CA/15CB from CA, up to USD 1M/yr, all India taxes must be paid. NRE → Abroad: Freely repatriable, no limits.

Step 5: Returning NRI

If returning: RNOR window (up to 2yr), bring back investments before becoming Ordinary Resident, close PFIC positions (US), convert NRE/FCNR to resident accounts.