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A person becomes a non-resident on the day he leaves India, if he leaves for the purpose of employment, business, or for any other reason with an intention to stay outside India for an uncertain period. Likewise, a person coming to India will become a resident, irrespective of his citizenship, if he comes for the purpose of employment, business or for any other reason with an intention to stay for an uncertain period.
Skip to content. Table of Contents Owning an immovable property Fresh acquisition of immovable property by an Indian resident Lease and other avenues Who is a resident of India? Was this article useful? Laws governing inheritance of immovable property in India by NRIs. Important guidelines for buying a property outside India. Many countries, including the UK, have favourable tax treatment for foreign investors, which would help reduce the overall tax burden.
In order to make these transactions easier, one can opt to open Multi-Currency Account with Winvesta. So whether you buy, rent, sell or lease any property overseas, all your transactions can be carried out through this account. Your hub for global investments.
Get a Winvesta Multi-Currency Account and start managing all your global investments from one place. All content provided by Winvesta India Technologies Ltd. Winvesta is not a tax advisor. Tax treatment depends on your individual circumstances and may be subject to change in the future. You should take independent advice from a tax professional about how the taxation may apply to you, or independently research and verify, any information that you find in this article and wish to rely upon.
Remember capital is at risk. In these challenging times of lockdown and quarantine, everything around us is at a literal standstill, including our stock market. Many of us now wish they had diversified their portfolio, or are looking for efficient ways to diversify it now. Diversification is an investment strategy that recommends owning several investments that tend to perform well at different times to reduce the effects of market fluctuations.
But then how do you choose different baskets? Rukesh Reddy, Director of Digital Transformation at Citibank in New York, talks about why every investor needs to lean heavy on software companies while building an investment portfolio.
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