For years, Indians have moved out of the country in search of work and better opportunities. According the Ministry of External Affairs, India has the second-largest diaspora in the world, with around 30 million people living in over 200 countries. When you shift from your homeland, the geography that you are in has a direct impact on your investment products as well. Are you one of those planning to move out of the country or a non-resident Indian (NRI) already? Remember that your residential status also makes a difference to how you handle the investment products in India. Are you wondering what you should do about your current investments? Is it mind-boggling for you to decide whether you should invest in India or overseas, where you might end up living for a large part of your working life?
It is not easy. Shifting to another country exposes you to a new tax regime, newer investment products, different interest rates and also currency risk. Mint Money spoke to a few experts who manage the money of NRI clients, to give you a sense of what you should do if you are moving abroad to work.
