Weekly Market Update
From one Peak to Another...
As the markets reach new highs almost every week, I am running out of adjectives to describe the...
As an NRI in the UAE, your biggest motivation for living and working in UAE could very well be the tax-free and high disposable income. It can help you save more and invest for your future.
While it is essential to invest your savings, it is also necessary to know how the income from your investments will be taxed when you go back to India.
Like most countries, your tax liability in India is calculated based on your Residency status and source of Income.
For Income tax purposes you will be treated as a resident if you satisfy one of the following conditions;
You will be treated as a Non-resident if you do not satisfy the above two conditions of a resident in a particular financial year
As a returning NRI you can qualify for the special residential status of RNOR if you satisfy one of the following two conditions;
You can enjoy this special tax status for up to 3 assessment years, based on your date of return to India. NRI who have spent at least 7 years abroad qualify to the RNOR status.
While you are a Resident but Not Ordinarily Resident (RNOR) you are exempt from income tax on the following incomes;
You may continue to enjoy the RNOR status and tax exemptions until your status automatically transitions into a Resident
While the above incomes are exempt, income earned as salary, remuneration, fees or profits is not exempt.
(RFC) Resident Foreign Currency Account enables you to hold your money in foreign currencies like USD, GBP, EURO etc. It is very useful for NRIs who have returned to India to receive and park their wealth and income in this account on a repatriable basis.
As an expat Indian, you have ample and attractive investment opportunities in UAE, helping you take maximum advantage of the tax free income to accumulate wealth and achieve your financial objectives .
The following are a small list of Investment opportunities in UAE in US Dollar denomination and other favourable currencies ;
To know how to invest your disposable income and to understand the pros and cons of various investment platforms and plans, feel free to arrange a free 15 minutes discovery call.
Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours...
As the markets reach new highs almost every week, I am running out of adjectives to describe the...
When it comes to NRI insurance and investment, many...
When people want to save money, they usually put their net disposable...