Article credit: http://www.southasiamail.com/mainnews.php?id=5433
Saurav Patel had migrated to the US ten years back after his graduation. He had done his MS in the University of Pennsylvania. He works now with Microsoft and is well settled in Seattle.
Money tips for NRIs moving back to India Patriotism for motherland India would surface once in a while, particularly when he wants to make investments. Although it was also true that India seemed a greater and better bet given the situation prevailing in the US.
He was a shrewd investor and he knew of every possible way to invest and multiply his money.
NRIs can’t trade in interest rate futures A sneak preview into his portfolio would show:
- NRE bank accounts into which he sends surplus dollars every month. His fixed deposits gave low returns compared to the general interest rates in India, but the interest was tax free. Also anything was better than the 0% he gets for his deposits in the US.
- NRO bank accounts into which his income from India, rentals from his properties etc are maintained. His father, who holds his Power of Attorney, meticulously handles all of it.
- Rental residential properties, one each in Ahmedabad and Mumbai.
