Do you think that being an NRI you can’t invest in India? It’s all wrong. The National Pension Scheme (NPS) provides an excellent option to expend hard earned money. The Pension Fund Regulatory and Development Authority (PFRDA) has dispelled all ifs and buts over the eligibility of non-residents. Now, the crystal clear image is before all that they too can save their money in the same account.
So, the expat can re-schedule their future here in India by saving money in this pension account. A glance over NPS: It’s a pension-saving scheme in which the person can invest till 60 years of age. The investment can be kick started with the trivial amount of INR 6,000. It means the said amount is set as the minimum amount with which you can begin safeguarding your pension amount. And when you reach at 60, the investment period expires automatically. The government of India has nodded to invest from these three kinds of funds in this scheme under Tier I (that is basic):
There is the provision for Tier II also. The investor under it would have it like saving account to offer liquidity. What if the NRI wants to withdraw amount before turning 60? In such case, the permission is granted. Thereby, the NRIs become eligible for NPS investment. They can have that wholesome amount provided that he/she would buy annuity with the 80% of that amount. But if the depositor is not in the need of the whole amount, he/she can withdraw the partial amount. This partial withdrawal has the limitation of 25% of the total amount invested till the date. This withdrawal is permitted only after 10 years of being into the scheme. How to open an NPS account for NRIs?
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Click heA lot is happening in the immigration policies of various countries, especially in Europe. Be it America, UK or Australia, the foreign ministries are revamping the outdated policies. But the noteworthy point is that the norms are drafted in ‘countrymen’s interest ’.
Take an example of the US. Its president Donald Trump has signed the rule that titles ‘Buy American, Hire American’. Australian PM Turnbull followed his footprints and announced stringent new visa rules. Singapore & China did the same. Now, it’s the turn of UAE. What it announced, let’s comprehend it below. US Visa Holder NRIs to get UAE visa on arrival The UAE Ministry of Foreign Affairs has nodded to issue visa. Now, the US visa holders can get it for two weeks long visit. Don’t worry if you’re a green card holder of the US. The new rule will be valid for you as well. This rule will be in execution from 1st May 2017. Dubai officials at the General Directorate of Residency and Foreign Affairs have confirmed this announcement. They have given positive response upon execution of this visa rule. Which documents are required for this UAE visa? UAE government approves three channels to apply this visa. They are:
Since the foretold visa is applied for short term, it would fall under ‘Visitor Business’ or ‘Tourist Visa’. Catch on the checklist of the documents required for it below:
The applicant needs to carry the originals of the aforementioned documents while undergoing attestation services with the MEA in India. What’s the duration of this visa? It is valid for 2 weeks or 14 days only. And it is extendable as well. It implies that the visa holder can renew it. Subsequently, he/she will be able to overstay for more 14 days (2 weeks) there. It will be valid for six months. Within this period, he/she can re-visit for the same duration to UAE within six-month. What’s the fee for the entry? As per officials, the entry fee is fixed, i.e. Dirham 100. Its fee would be equal to INR 1750. And if the applicant wants to extend it, he/she has to pay Dirham 250 as entry charge. |
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