With the development in most Gulf countries and superpower like the United States in transition, mid 80’s saw a large number of Indians immigrating out of their regular jobs and moving to the other countries. This in some cases did open the gaps for unemployed people to secure jobs abroad. In doing so they also began the process of planning for the future.
Read MoreAuthor: Manoj Sodhani
Wealth Management Tips for NRIs
With Mumbai as its trade capital, India is the world’s tenth largest economy which attracts investors from all over the globe but mostly NRIs (Non-Residential Indians). Along with finding investment opportunities in India, NRIs seek wealth advisory opportunities for them to utilize their existing wealth.
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Neha Gupta: Santa in Brown Skin
It’s always a proud feeling when a fellow Indian does well, but this one is extra special even though it’s not a world cup trophy neither a Bollywood movie won an Oscar. An 18 year old US citizen of Indian origin, Neha Gupta, founder of Empower Orphans won ‘International Children’s Peace Award’. She went on to become the first American to won this award. It isn’t her first award but it is the most prestigious award which was won by Malala Yousufzai, last year, who went on to win the Noble Peace Price this year.
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New Immigration Policies in US brings many benefits for NRIs
US President, Barack Obama recently took his executive action on the immigration policy. Nearly 11 million undocumented workers will benefit from the policy. It is in benefit for American workers also, this is because they are constantly competing with the undocumented immigrants in the same niche. Imagine an employer has two options: one is to hire the undocumented labor that will be willing to work at 6$ an hour or hire authorized worker at minimum wage of 7.25$ an hour. With undocumented workers coming out of the shadows and getting authorization, they can demand minimum wage of 7.25$ same as of American worker.
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Why NRIs must get a PAN Card?
Indian residents residing out of India i.e. NRI (Non-Resident of India) should have a PAN (Permanent Account Number) card. It contains a unique alphanumeric number. PAN card is required to file for a tax return in India but that doesn’t necessarily means that those who have a PAN card must file for tax. PAN card is important for NRIs when they have to remit money to India or it is helpful for the NRI people in case of money exchange/ stock exchange and so on.
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OCI and PIO cards to be merged but what are they?
Exactly one month ago from now on 29th September, Prime Minister of India, Narendra Modi announced the merging of OCI and PIO card at the Madison Square Garden where he enjoyed a rousing ovation from the Indian contingent as well as foreigners. But before they action comesinto existence, here’s a look at what they really are:
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