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NRI Investment Plans

NRI Investment Plans in India offer a robust way for Non-Resident Indians to secure their financial future through diverse and strategic investments. These plans allow NRIs to take advantage of India's dynamic economy and higher interest rates, providing options like ULIPs, savings, and retirement plans. ...Read More

Secure Your Financial Future in India!

Discover Tailored NRI Investment Plans for Long-Term Prosperity.

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NRI Investment Plans in India

NRI Plans

image-star image-star image-star image-star image-star image-star image-cloud image-cloud image-cloud moon NRI Plans

Every professional understands the importance of investing for a safe and secure future. Several Non-Resident Indians (NRIs) have chosen to build an investment portfolio in India since it has one of the fastest-growing economies in the world. Additionally, NRIs can diversify their portfolio and enjoy good returns and various tax benefits when they invest here. While investing, NRIs must follow the investment guidelines outlined by the Securities and Exchange Board of India (SEBI), the Foreign Exchange Management Act (FEMA), Insurance Regulatory and Development Authority of India (IRDAI), and the Reserve Bank of India (RBI).

NRIs choose to invest in India for the following reasons

Portfolio Diversification

Portfolio Diversification

NRIs can invest in India to build a global and diverse portfolio. Spreading their investments across markets can help them minimise risk and enjoy steady growth for the future.

Build a Retirement Corpus

Build a Retirement Corpus

Many NRIs aim to retire in India. They can utilise the investment tools available here to build a nest egg for their golden years.

Understanding NRI Investment Plans

Let’s understand better the various investment plan options NRIs can consider in India.

Term Plans

Term Plans

Many NRIs have parents and relatives in India. By purchasing a term plan, NRIs can help take care of their loved ones back home even if something happens to them. Term plans in India offer a sum assured between Rs 50 lakhs to Rs 2.25 crore, offering a significant financial payout to loved ones. It can help keep their finances afloat during a difficult time. NRIs can purchase a term plan when they’re in India or even from their country of residence. However, they must first ensure that the insurance policy offers coverage for that country.

Unit-Linked Insurance Plans (ULIPs)

Unit-Linked Insurance Plans (ULIPs)

ULIPs offer NRIs the opportunity to build wealth in India while enjoying the additional benefit of life insurance coverage. NRIs can purchase ULIPs and make regular premium payments. A part of the amount gets used to provide the required life insurance coverage. The rest gets invested in various equity and debt funds. The investor can choose how their investment gets divided across assets to build wealth for the future. ULIPs work best when utilised for long-term planning, making it ideal for those who want to fulfil financial goals after 10 or 15 years.

Savings Plans

Savings Plans

Savings plans are unique life insurance products that offer NRIs a savings component. These plans have a fixed return on maturity, making them a good option for risk-averse NRIs who want to build a corpus to meet future financial goals in India. Depending on the type of plan chosen, NRIs may also receive a regular income as part of the maturity proceeds. Savings plans help individuals meet their future goals while protecting their family’s finances in the present with life insurance coverage.

Retirement and Annuity Plans

Retirement and Annuity Plans

NRIs who want to spend their golden years in India can benefit from retirement and annuity investment plans in India. Retirement plans are financial products that help NRIs systematically save money over the years for financial security after retirement. Depending on the selected plan, NRIs can choose to get monthly or annual payouts based on their post-retirement financial needs.

Why Is Investing in India a Good Option for NRIs?

India’s rapid economic growth has made it a good option for NRI investments. Let’s better understand why investing in India is a good idea for NRIs:

Rapid Economic Growth

Rapid Economic Growth

India has consistently ranked in the top five fastest-growing economies in the world ^^. It offers investors growth opportunities, making it a good option for NRIs.

Better Returns

Better Returns

India's diverse investment options, including mutual funds, stocks, IPOs, bonds, and real estate, along with its stable economic growth and reduced market volatility, make it an appealing investment destination for NRIs seeking higher returns compared to their countries of residence^^^.

 

Financial Safety

Financial Safety

Many NRIs have family members and loved ones in India. Investing in India helps them provide financial security for their loved ones.

Tax Benefits

Tax Benefits

Depending on taxation policies abroad, investing in India could mean NRIs can take advantage of lower tax rates on investment income. NRIs also can avail the benefit on Double Taxation Avoidance Agreement (DTAA) entered between India & their country of residence in order to avoid the levy of tax in both the countries.

Tax benefits of Rs. 1,50,000 can also be availed u/s 80C# if investment is made towards Life Insurance plans. One can also be benefited for tax exemption u/s 10(10D)# on maturity pay-outs received under various life insurance plans, subject to conditions stated in the income tax provisions.

How Can NRIs Invest in India?

NRIs need to follow a few steps to invest their funds in India.
1

Apply for a Permanent Account Number (PAN)

Before opening a bank account, NRIs must apply for a PAN. The PAN will also help NRIs invest in India.

2

Open an NRE or NRO Bank Account

Banks in India allow NRIs to open Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts. Each type of account serves a different purpose. NRE accounts only allow foreign currency credits while NRO accounts allow both foreign currency credits from overseas and local credits in Indian Rupees. NRIs can choose which type of account to open based on their financial needs.

3

Complete the KYC Documentation

While opening a bank account, NRIs must fulfil certain Know Your Customer (KYC) requirements. They must provide identity and address proof to meet these requirements.

4

Select the Required Investment Plans

Next, NRIs must select the investment plan they want to fulfil their future financial goals. They can choose between ULIPs, savings plans or retirement plans.

5

Comply with Rules and Regulations

Once NRIs start investing, they must understand the tax implications to avoid defaults or penalties. They might have to consider tax laws in India and their country of residence. Ideally, NRIs should consult tax advisors to make informed decisions.

Eligibility Criteria for NRIs to Invest in India

Eligibility Criteria for NRIs to Invest in India

Individuals must meet certain criteria to maintain their NRI status. Individuals are considered NRIs if they:

  • Do not reside in India for more than 182 days in a previous year.
  • Have not resided in India for 60 days or more in the previous year and for 365 days or more during four years immediately preceding the previous year.

 

Additionally, to start investing, NRIs must:

  • Be between the ages of 18 and 60
  • Have a valid PAN card


If not available, then submit Declaration in lieu of PAN card in company format stating that customer is not a tax resident of India.

  • Have an NRE or NRO account to transfer funds

NRI Investment Plans in India by HDFC Life

HDFC Life offers a plethora of options for NRI investors. Some options include:

FAQs on NRI Investments

1 What are the investment options for NRIs in India?

NRIs in India can invest in ULIPs, savings plans, retirement plans or term insurance policies. Additionally, they can explore financial tools like fixed deposits to build a corpus in India.

2 What are the investment plans offered by HDFC Life?

HDFC Life offers several investment options for NRIs, including ULIPs like HDFC Life Smart Protect Plan, term plans like HDFC Life Click 2 Protect Super, savings plans like HDFC Life Sanchay Plus, and pension plans like HDFC Life Systematic Retirement Plan.

3 Is it a good idea to invest in India as an NRI?

Yes, it is a good idea for NRIs to invest in India as they can benefit from one of the world’s fastest-growing economies, potentially higher interest rates and multiple investment options.

4 Which income types of NRIs are taxable in India?

 NRIs must pay tax on  all income earned in India. They must pay taxes on investment returns and income earned through real estate rental. Additionally, NRIs may have to pay taxes on long-term and short-term capital gains earned through the sale of assets in India.

5 What are the documents required for NRIs to invest in India?

To invest in India, PAN card is mandatory. If PAN card is not available, then submit Declaration in lieu of PAN card in prescribed format stating that customer is not a tax resident of India. 

For Identity & Address proof, NRIs can submit anyone of the acceptable documents as stated below or equivalent to the same such as Passport, Permanent Driving License, Voter's ID card, Aadhaar. 

They may need additional documents depending on their investment plan requirements

6 Are there any tax benefits for NRIs investing in India?

NRIs can avail of various tax deductions, including those under Section 80C# of the Income Tax Act, 1961 under which tax deduction of Rs.1,50,000 can be availed on investments made in life insurance plans. Also, they can claim tax exemption u/s 10(10D)# on maturity pay-outs on life insurance policy claims subject to conditions mentioned in the Income Tax Act. Interest earned on NRE accounts are tax free.  NRIs can also avoid double taxation under the Double Taxation Avoidance Agreements (DTAA) when they claim tax credits for taxes paid in India while filing income tax in their country of residence.

7 What are the different types of NRI investment plans available in India?

NRIs have several investment options in India. They can choose to invest in savings plans, ULIPs, retirement plans, and more

8 Is a PAN mandatory for NRIs to invest in India?

NRIs must have a PAN if they have source of income from India, own land in India, or want to invest in certain types of investment policies in India. Each NRI should check the conditions for their chosen investment policy.

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Disclaimer

1. Provided all due premiums have been paid and the policy is in force.

2. Lump sum benefit is available under Guaranteed Maturity option. Regular Income is available under Guaranteed Income, Long Term Income and Life Long Income options.

12. With unlimited free Switching. Available under Level Cover and Decreasing Cover.

# Tax benefits & exemptions are subject to conditions of the Income Tax Act, 1961 and its provisions.Tax Laws are subject to change from time to time.The customer is requested to seek tax advice from his Chartered Accountant or personal tax advisor with respect to his personal tax liabilities under the Income-tax law.

^ Available under Life & Life Plus plan options

^^ Source: cleartax.in

^^^ Source: india-briefing.com

ARN : MC/11/23/6539