• Thane West
  • contact@philosophersstone.in
  • Office Hours: 8:00 AM – 7:45 PM

Non-Residents Indians (NRIs)

Services to Non-residents Indians (NRIs) are very complicated and full of compliances as this involves cross border transactions.

We provide Financial, Investment and Taxation services to NRIs and offer a 360 degree NRI related services (Legal and permitted by law) to our clients spread across the globe.

We advise on NRI investment related queries, setting up a business in India, NRI Banking Solutions, assisting returning and emigrating Indians.

We Advise To NRIs Who…

  • Have/intend to have investments in India
  • Inherit assets in India
  • Who have/intend to set up a business in India
  • Returning NRI
  • Have to report under Foreign Taxation Laws

Emigrating Indians / New NRIs:

We advise emigrating Indians/New NRIs in the following matters:

  • Legal ways to the repatriation of sale proceeds and income of assets held in India
  • Determination of residential status in India
  • Plan for NRIs tax liability in India
  • Application for obtaining PAN number and filing of Income Tax return in India
  • Opening up bank accounts and compliances thereof
  • Opening a Portfolio Investment Scheme account in respect of Stock Market transactions
  • Monitor, record and report about his/her investments in India
  • Facilitating execution of Power of Attorney

Remittance Of Funds From India To Abroad Or Vice Versa:-

We advise on hassle-free remittance transactions as follows:

  • An opening of a bank account in India namely Rupee Accounts like NRE A/c, NRO A/c and Forex Accounts like FCNR A/c and RFC A/c
  • Issuance of CA Certificates like 15CA and 15CB
  • Monitoring of your bank accounts with regards to various compliances and also effective tax planning for credited amounts
  • Repatriation of sale proceeds of residential and immovable property in India, current income repatriation like interest, dividend, pension, rent etc.

If, You Are Planning To Make Investments In India:

We advise on an investment strategy for our clients in India as follows:

  • Advising allocation of investments in the most convenient routes such as Mutual Funds, Govt. Risk-free bonds, Securities, Fixed Deposits and Quality Real Estate projects
  • Recommending best investment option in light of Indian laws
  • Facilitate repatriation of income from investments and rent
  • Facilitate liquidation/lease of property
  • Facilitate repatriation of sale proceeds
  • Complete banking and other regulatory formalities

If You Inherit Assets In India:

If you inherit property from parents or someone else, might have some implication of legal issues. We can manage these issues well by considering every aspect of the matter as follows:

  • Drafting and registration of a WILL
  • Representing before tax authorities on your behalf if required
  • Handling of issues relating to inheritance, a succession certificate, mutation of records, etc.
  • Facilitating repatriation of the sale proceeds of the property

If You Intend To Set Up A Business In India:

Recently India has become the land of opportunity for many NRIs, to invest under Make in India and other investor-friendly schemes. Setting up a business in India, by NRIs attracts various legal compliances. We enable him/her to do so by providing the following services:

  • Advising on appropriate compliance for a complete set of regulatory approvals
  • Advise on arranging finance for the project by preparing a detailed project report and liaison with banks/ financial institutions and joint venture partners
  • Advising on proper structure (constitution) for tax planning via different forms of entities like Trusts, Companies, Firms, etc. and determine the form of entity and process related to the incorporation of the same
  • Develop an entry strategy and a financial model
  • Evaluate potential partners by carrying out financial due diligence reviews
  • Provide insight into various Foreign Direct Investment Schemes and benefits under the same
  • Facilitate lease of property
  • Advising on taking property on lease/rent

If You Are Planning To Come Back And Settling In India:

If you are planning to come back and settling in India:

  • Taxability of Income earned in and outside of India with respect to the Indian Income Tax Act, 1961
  • Interpretation of DTAA with a view to reducing tax liability
  • Reorganize your asset portfolio in India/outside India with professional assistance to ensure minimum tax liability
  • Planning the date and month of return to India to reduce tax liability
  • Residential status under different laws
  • Compliances with respect to the Income-Tax Act, 1961 and filing of Indian Income Tax Return
  • Re-designation of all Indian bank accounts as Resident accounts and taxability thereof
  • Opening and complying with respect to Resident foreign currency (RFC) account