Our team has unique experience of working with NRIs or OCI card holders or family members of residents living in more than 20 countries. We use our knowledge and experience to better plan your finances, diversify your investments, increase risk adjusted return and optimize taxation while complying with laws and ultimately simplify your financial life.
Family Governance When, one or more members of the family may have tax consequences in more than one country because of education, employment, investments, business operations, migration, retirement, permanent residency, citizenship or family members living in different countries. Compliances related to financial transactions and investments have been increasing and getting complicated every year and are now a part of our life.
As a part of our Cross Country Investments and Tax Planning, we provide following services.
1. Residential Status Planning
We advise our client to extend a residential status that is in their best interest. Our advice can help our clients to keep NRI status for an additional year(s) or maintain Not Ordinary Resident status for one extra year to save income tax and reduce compliance reporting requirements.
2. Migrating/ Returning to India
We advise any migrants - going out of India or returning to India - to better manage their India and global assets in a most tax efficient way in compliance with Indian and foreign laws. For a person returning to India, our advice starts from up to 6 months before returning until he is an Ordinary Resident as per Income tax act in India and helps them save significant tax in India and foreign countries.
3. Multi-country Residency & Investments
Not only do we advise a client with multi-country residency or a client who is a resident of one country and has investments in multiple countries, but we also advise clients with multiple country residency and having investments in multiple countries, multiple currencies and multiple asset classes. We manage their investments to give him clarity, set right goals and priorities, streamline investments and compliance and bring peace of mind while giving him a sense of achievement and accomplishments.
4. Multi Country Tax Planning
We analyze the tax and compliance requirements of India, foreign countries as well as DTAA (Double Tax Avoidance Agreements) articles to plan various types of income in the most tax efficient manner as a family. We also advise people migrating out of India or Ex-pats returning to India for efficient tax planning to reduce overall tax burden considering multiple countries taxation and DTAA.
5. Remittance & Repatriation
We understand your situation and help you understand the laws and procedures related to remittances and repatriations and provide the fastest, easiest, and most economical way to transfer funds in compliance with RBI / FEMA rules. If required, we help you comply with TDS / TCS requirements and liaison with banks for the transfer out of resident accounts or from NRO to NRE or to foreign accounts and ensure smooth transfer of funds.
6. FEMA, FATCA/ CRS & global Compliance
We ensure that our investment advice is in compliance with Income Tax Act and Foreign Exchange Management Act (FEMA) in India. We also guide clients how the reporting structure works in compliance with Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) in India and globally and help them to be compliant with these applicable laws.