Saturday, January 26, 2008

Best Investment Options for NRIs

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Investment by NRIs (Non Resident Indians) /OCBs (Overseas Corporate Bodies) are permitted on repatriation as well as on non-repatriation basis. All investments on repatriation basis has to be foreign exchange remittances from abroad routed through normal banking channels or the NRI investors' NRE (Non Resident Expatriate) /FCNR (Foriegn Currency Non Resident) accounts in India. In respect of investment on non repatriation basis, funds can be sent from the NRIs' NRO /NRNR/NRSR accounts apart from their NRE/FCNR accounts. However, where investments are made out of NRSR accounts, the maturity proceeds can be credited only to such NRSR account of the NRI investor. Remittances in foreign currency received in India will be converted to Indian rupees at the ruling TT selling rate on the date of conversion.

Investment Options before the NRIs:
1) Bank Accounts
2) Deposits with Indian Companies/ Firms, etc. including NBFCs
3) Direct Investment in Indian industries / joint ventures
4) Shares and debentures of Indian companies
5) Portfolio investment in listed companies
6) Dated Government securities, treasury bills, units of domestic/money market mutual funds, National Plan/Savings Certificates
7) Bonds of Public Sector Undertaking, disinvested shares of Public Sector Enterprises
8) Immovable properties, Housing and Real Estate Business

Investment in any of the above can be made both on repatriation as well as on non-repatriation basis.

More details on each of these options in the next blog.. :)
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