Fee-only financial planning · SEBI Registered Investment Adviser

Returning to India: An NRI's Financial Checklist

Moving back to India changes your tax status, the accounts you may hold and how your foreign savings are taxed and reported, usually within the same year as a new school, a new job or no job, and parents nearby. This checklist sets out what to settle before and after the move. A plan puts it together with your goals, so the move is decided on numbers, not on a rough sense of what life in India will cost.

What changes when you move back

Your residential status for tax

Whether you are a non-resident, a resident but not ordinarily resident (RNOR) or an ordinary resident decides whether your foreign income is taxed in India. Many returning NRIs qualify as RNOR for a period. The status depends on your days in India over several years, so the move date matters.

Bank accounts have to be redesignated

Rupee non-resident accounts (NRE and NRO) must be converted to resident accounts once you return; foreign-currency deposits can usually run to maturity, and money can be held in a resident foreign-currency account. Banks need to be told; the KYC on mutual funds and demat accounts must change too.

Foreign savings and retirement accounts

Retirement accounts, shares and property abroad do not have to be sold, but once you are an ordinary resident they are taxed in India and must be reported in your Indian tax return every year. Each one needs a decision: keep, move or sell, and when.

Life in India costs differently from what you remember

School fees, health care, a home and support for parents can cost more than expected, and the income after the move may be lower or start later. The plan builds an India budget and checks how long your savings would last at it.

Health and life cover

Cover held through an employer abroad usually ends with the job. Health cover in India has waiting periods, so it should be bought before or soon after the move; life cover should be checked against the family's new costs.

How we plan a move back to India

A dated checklist for the twelve months before and after the move: accounts, KYC, policies, documents.
Your expected residential status, year by year, and what it means for foreign income, so you can plan the move date with your tax adviser.
A decision for each foreign account and asset: keep, move or sell, with the timing.
An India budget and a check of how long your savings last at it, with and without a job in India.
Health and life cover arranged for the move, and goals rebuilt in rupees: children's education, a home, parents' care, retirement.
A review after six months and email support through the year, across time zones until you settle.

See what a finished plan looks like, section by section

What the engagement includes

₹15,000 for the first year, including GST, per couple with dependent children. Parents' health cover is reviewed as part of the plan; their own goals and investments are not. Renewal is ₹7,500 a year, including GST.

A free discovery call of up to 30 minutes, then a data sheet and risk-profile questionnaire.
A written financial plan within 2 weeks of your approving the initial analysis, walked through on a video call.
A review after six months and email support for the whole 12 months.
Advice only: you keep control of your accounts and investments. No commissions, no percentage of assets, no products sold.
Not included: income-tax return filing, direct stock tips, cryptocurrency, PMS or other complex products, or holding your money.

The plan and the fee in detail · How the engagement runs · All questions

Questions nris returning to india ask us

When should I start planning the move?

Ideally a year before. Residential status, the timing of selling or moving foreign assets and health cover waiting periods all work better with time. We also work with clients who have already moved.

Will you file my Indian or foreign tax returns?

No. Tax return filing in India or abroad is not included. The plan shows the tax effect of each choice so you and your tax adviser can file correctly.

Do I have to close my NRE account when I return?

The account has to be redesignated as a resident account once you become a resident; foreign-currency deposits can usually continue until they mature. Your bank will tell you its process; the plan lists every account and what happens to it.

Can we start while I am still abroad?

Yes. Calls are on video at times that suit your time zone, and the fee is the same for NRIs and residents.

What does the plan cost?

₹15,000 for the first year and ₹7,500 a year to renew, both including GST, per couple with dependent children, whether you are abroad or in India.

Other guides

Investment in securities is subject to market risk. The rules described here are general and change; the plan applies the rules in force to your situation. SahajMoney does not file tax returns or give legal advice.

Tailored Financial Advice At a Price You Can Afford!

Speak to SahajMoney® advisor today to achieve your financial goals with confidence.