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Investment Plans for NRI

In the past few years, India has witnessed massive industrial development, attracting high foreign direct investment. Due to this, many non-resident Indians have started investing in Indian investment avenues. The Indian Government too has opened doors for NRIs to invest in India and is coming up with investment options that can help non Indian residents diversify their portfolio. Given below are some of the top investment options for NRI in India.

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Top investment options for NRI in India

Fixed Deposits

This is a popular investment option not just amongst Indian residents but also among non resident Indians. This is considered to be a safe investment option as the money is invested in the banks.

Non resident Indians can deposit their money in India through the below accounts:

  • Fixed Deposit in NRE Account (Non-Resident External Account)
  • Fixed Deposit in NRO Account (Non-Resident Ordinary Account)
  • Fixed Deposit in FCNR Account (Foreign Currency Non-Resident Account)

Mutual Funds

Investment in mutual funds can be made based on your risk profile and investment objectives. Compared to fixed deposits, mutual funds offer high returns. NRIs can invest in mutual funds through NRE and NRO accounts in India rupees and not in foreign currency. The returns depend on the type of fund you invest in i.e. debt, equity, hybrid, etc. In case the NRI has income in India then investment in ELSS mutual funds provides tax benefits as well under section 80C.

Unit Linked Insurance Plans

This is a type of life insurance plan that comes with the benefit of investment as well as insurance. This type of investment helps in wealth creation as well as providing financial protection to your family. This is an ideal investment option for investors with modern to high risk taking capacity. The investor can choose to invest in various fund options depending on the tenure and life goals. In the long run, mutual funds help in beating inflation.

Real Estate

The Indian real estate market is booming and for NRIs investment in cities like Mumbai, Bangalore, Pune, etc. is considered to be a great opportunity. Few of the real estate investment options in India include villas, plots, apartments, etc. It is important to note that NRIs cannot invest in plantations and agricultural land in India.

National Pension System

In India, an NRI aged between 18-60 years can open an NPS account with a point of presence in India. An eNPS account can be opened using a valid PAN and Aadhar card. Investment can be done via NRO or NRE bank account. Investment can be made in equities, corporate bonds and government securities. However, only 75% can be invested in equities. It is also important to note that the pension from NPS will be paid in Indian rupees. 20% of the accumulated corpus can be withdrawn before the age of 60 and 60% can be withdrawn at the age of 60 and remaining 40% must be utilized to buy an annuity plan.

Documents required for NRIs to invest in India

The below documents are mandatory for NRIs to invest in India.

  • Valid copy of the visa
  • Passport
  • Foreign address proof
  • Last entry-exit stamp
  • Past 6 months bank statement
  • Employment ID proof
  • Past 3 months salary slip
  • Photocopy

Investment Plans for NRI

Listed below are the investment plans for NRI:

Traditional Plans

  • ICICI Future Perfect
  • HDFC Life Par Advantage Plan
  • HDFC LIfe Sanchay Plus and FMP
  • ICICI GIFT
  • TATA AIA Fortune Guarantee Plus
  • Canara Guaranteed Savings Plan

ULIP (Shariah & Non-Shariah Funds)

  • HDFC Click to Wealth (Non Shariah Funds)
  • Bajaj Goal Assure (Shariah Funds)
  • Tata Fortune Pro and Smart Sampoorn Raksha (Shariah Funds)
  • ICICI Signature (Non Shariah Funds)

Reasons why NRIs should invest in India

Here are few reasons as to why non resident Indians should consider investing in India:

  • In today's time, the money that you save for the future determines the quality of life you would lead. Hence, having a strong retirement corpus is important. Moreover, since NRIs reside in a foreign land, away from their closed friends and family, investment made in Indian markets can help them create a strong financial future in their old age.
  • Get good returns: When investing in high risk investment options for the long run, NRIs can expect high returns too, whereas low risk options offer substantial returns. Hence, it is highly recommended for NRIs to invest based on their risk capacity and income.
  • Ensure financial future for the family: Life is uncertain and if you are an NRI sending money back to the family in India then buying a term insurance, life insurance or investing in any of the above investment options can help you ensure that you have created enough wealth for your family's financial future.
  • Build financial assets: If an NRI has enough savings in hand, then investing in real estate in India can help them earn rental income which can also be used as a security at the time of loan application.

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FAQs

  • Can NRIs invest in PPF?

    A PPF account can be opened only by an Indian resident. Hence, if the NRI already has a PPF account then he can invest in PPF.

  • Can NRIs get tax benefit under section 80C investment?

    Yes, NRIs can get tax benefit under section 80C investment by investing in ULIP, ELSS mutual funds, etc.

  • Who regulates NRI investment in India?

    The NRI investment in India is regulated by the Foreign Exchange Management Act (FEMA)

  • Can NRIs purchase LIC policy?

    Yes, NRIs can purchase LIC policy

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