Wealth Management Services
Tax incidence of an individual solely depends upon his residential status, which in turn depends onhis physical presence in India. If an individual is resident and ordinarily resident, worldwide income of the individual is liable to tax in India. If an individual is resident but not ordinarily resident, income received in India or accruing/arising from a source in India or income derived from a business controlled or profession set-up in India is liable to tax in India. If an individual is considered non-resident, income received in India or accruing/arising from a source in India is liable to tax in India.
Keeping all your monetary eggs in one basket is never a good idea. Therefore you need to seek the best ways to diversify your wealth-this may see your money spread across different asset classes, currencies, financial service providers etc. and it may also see your money divided up according to your priorities for it.
International Health Insurance
When youíre away from your nation of birth-whether temporarily or for good-itís more important than ever to make sure youíre fully covered in terms of health, possessions and liability in both your new country of choice and also for anyside trips or holidays you take. Coverage can come in all manner of different flavors, depending on how it is packaged up by the different companies, so it is vital that you read the small print to check what you're buying is what you expect. For temporary or short-term stays abroad, such as to work, study or simply a period of holidaying or residing abroad with an expectation of arriving you can usually find a policy offered by one of the major brand insurers that suits your needs, whether it's working holiday insurance, study abroad insurance or just general travel cover. If you're looking at a long-term or even permanent move abroad, however, it's worth checking out the smaller, more specialist insurers who cater to expats. As well as those operating in your own country, you may find companies in your new country of residence that offer competitive policies to fit your needs; however, with this may come language complications if the country you have moved to is not a native English-Speaking-Country, and it is vital to read thoroughly any contracts, agreements or policies before signing anything.