A considerable number of NRIs view double taxation as the major obstacle, which happens when they are taxed on the same income in both India and their country of residence.
India now boasts the largest overseas diaspora globally, with around 32 million Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), mainly concentrated in Gulf countries, Singapore, the US, Canada, and the UK. Despite efforts to streamline taxation processes for NRIs, challenges persist, notably double taxation and difficulty accessing taxation documents from abroad.
What did SBNRI's report reveal about the significance placed on tax implications when NRIs consider investing in India, given the appealing opportunities that attract them?
India has become a desirable investment location for NRIs. Conservative risk tolerance is favoured by approximately 4% of NRIs based in the UK. The survey reveals that only 1% of NRIs from Canada, the UK, and Singapore prioritize funding for education.
India has become the top choice for investments by non-resident Indians (NRIs) due to its strong investment landscape. NRIs have a wide range of investment opportunities in India, including equities, mutual funds, and real estate, which allows them to diversify their portfolios. However, choosing between long-term and short-term investments can be challenging due to factors such as geopolitical stability, risk tolerance, and tax implications.