Hi,
I am 36 year old software professional. I would be migrating to US. I would need advice on what needs to done with existing investments / financial products in India before one becomes NRI. I own following investments/products
savings accounts with banks
Mutual fund investments (through ICICIDirect and FundsIndia)
Shares/ETFs/NCBs (through ICICIDirect)
credit cards
Term insurance
Ulip (paid up policies)
Health insurance
Home loan
Super annuity plan (This is group pension plan with LIC for which premium is paid by my employer)
EPF
PPF
Manish, it would be helpful if you do comprehensive post on to be NRIs. I would like to know
1. What is mandatory by law to inform financial institutions about change in residential status?
2. What is non mandatory but better in terms of future financial planning?
Prateesh