NRI Financial Advisory Services
6 min read
Overview
Riafin connects NRIs with SEBI-registered fiduciary advisors specializing in cross-border financial planning, FEMA compliance, and NRI-specific investment strategies.
NRI Financial Planning with Riafin
Riafin specializes in connecting Non-Resident Indians (NRIs) with SEBI-registered fiduciary financial advisors who understand the unique complexities of cross-border wealth management.
Who Qualifies as an NRI?
NRI Definition
You are an NRI if:
- Stayed in India for less than 182 days in the previous financial year, OR
- Gone abroad for employment/business, OR
- Gone abroad with intention to stay for an indefinite period
NRI Categories
| Category | Definition | Common Locations |
|---|---|---|
| NRI | Indian citizen residing abroad | USA, UK, UAE, Singapore, Canada |
| OCI | Overseas Citizen of India | Same as NRI |
| PIO | Person of Indian Origin | Various countries |
Why NRIs Need Specialized Advisory
Unique Challenges
1. Regulatory Complexity
- FEMA (Foreign Exchange Management Act) compliance
- SEBI regulations for NRI investments
- RBI guidelines for NRE/NRO accounts
- DTAA (Double Taxation Avoidance Agreements)
2. Tax Complexity
- Tax residency determination
- Indian income tax filing requirements
- Foreign income reporting
- TDS (Tax Deducted at Source) on Indian investments
3. Account Management
- NRE vs NRO account distinctions
- FCNR (B) accounts
- Repatriation rules and limits
- Power of Attorney requirements
4. Investment Restrictions
- Certain assets NRIs cannot hold
- PPF restrictions for NRIs
- Property investment rules
- Agricultural land prohibitions
How Riafin Helps NRIs
1. NRI-Specific Matching
When you complete the questionnaire:
- Select "Overseas NRI" as your location preference
- Specify your country of residence
- Indicate NRI-specific needs (tax, repatriation, etc.)
- Our AI matches you with NRI-experienced advisors
2. Verified NRI Expertise
Advisors matched to NRIs have demonstrated expertise in:
- FEMA compliance
- NRI tax planning
- Cross-border estate planning
- Repatriation strategies
- NRI-specific investment products
- DTAA optimization
3. Flexible Consultation Options
- Video consultations across time zones
- Phone meetings
- Email support
- Secure document sharing
- Digital onboarding
NRI Services Offered
Core Advisory Services
Investment Management
- Portfolio construction for NRIs
- Asset allocation across geographies
- NRI-permissible investment options
- Risk management
Tax Planning
- Indian tax return filing (ITR)
- DTAA benefit optimization
- TDS minimization strategies
- Tax-efficient investment structures
Estate Planning
- Will drafting for Indian assets
- Succession planning
- Nominations and beneficiary designations
- Trust structures (if applicable)
Repatriation Planning
- Funds flow optimization
- Compliance documentation
- RBI reporting requirements
- Repatriation limits and procedures
Specialized Services
Property Management
- Real estate investment advisory
- Rental income management
- Property sale repatriation
- Power of Attorney setup
Retirement Planning
- NPS contributions (if eligible)
- EPF withdrawal/management
- Retirement corpus planning
- Pension optimization
Insurance Planning
- Life insurance for Indian liabilities
- Health insurance considerations
- NRI-specific insurance products
Account Types for NRIs
NRE Account (Non-Resident External)
Features:
- Maintained in Indian Rupees
- Fully repatriable
- Tax-free interest in India
- Can be savings, current, fixed deposit
Best For:
- Income earned abroad
- Funds you want to bring to India
- Future repatriation needs
NRO Account (Non-Resident Ordinary)
Features:
- Maintained in Indian Rupees
- Limited repatriability ($1M per financial year)
- Interest taxable in India
- For Indian-sourced income
Best For:
- Indian rental income
- Dividend/interest from Indian investments
- Pension from India
- Indian salary credits
FCNR (B) Account
Features:
- Foreign Currency Non-Resident (Bank)
- Maintained in foreign currency
- Fully repatriable
- Fixed deposits only
- Tax-free interest in India
Best For:
- Protecting against currency fluctuation
- Foreign currency preservation
- Higher interest than foreign banks
Investment Options for NRIs
Permitted Investments
Equity & Mutual Funds
- Direct stock investments (through PIS)
- Equity mutual funds
- Debt mutual funds
- Balanced/ hybrid funds
- Index funds and ETFs
Fixed Income
- NRE/NRO fixed deposits
- FCNR deposits
- Government securities
- Corporate bonds (certain types)
- NCDs
Real Estate
- Residential property
- Commercial property
- Cannot: Agricultural land, plantation, farmhouse
Other Investments
- National Pension System (NPS) - until citizenship change
- Portfolio Investment Scheme (PIS) for equities
- Alternative Investment Funds (AIFs)
- Infrastructure Investment Trusts (InvITs)
Restricted/Prohibited
- PPF (Public Provident Fund) - cannot open new, can maintain existing until 15 years
- NSC (National Savings Certificates)
- Senior Citizens Savings Scheme (SCSS)
- Post Office deposits
- Agricultural land
Tax Planning for NRIs
Determining Tax Residency
Resident in India if:
- In India for 182 days or more in the financial year, OR
- In India for 60+ days in the year AND 365+ days in preceding 4 years
RNOR (Resident but Not Ordinarily Resident) Special status for returning NRIs - beneficial tax treatment for 2-3 years
Tax Obligations
Income Taxable in India:
- Salary earned in India
- Rental income from Indian property
- Capital gains from Indian assets
- Interest on NRO accounts
- Business income in India
Income NOT Taxable in India:
- Interest on NRE/FCNR accounts
- Foreign income (for true NRI)
- Capital gains on foreign assets
DTAA Benefits
India has Double Taxation Avoidance Agreements with 80+ countries including:
- USA
- UK
- UAE
- Singapore
- Canada
- Australia
- Most European nations
DTAA Benefits:
- Tax credit for taxes paid in other country
- Lower withholding tax rates
- Exemption from certain taxes
Repatriation Rules
NRE Account Repatriation
- Limit: Unlimited
- Documentation: Simple declaration
- Process: Online or branch
- Timeline: Same day to 48 hours
NRO Account Repatriation
- Limit: Up to USD $1 million per financial year
- Conditions:
- Tax paid on Indian income
- CA certificate (Form 15CB)
- Form 15CA online filing
- Bank declaration
- Timeline: 3-7 working days
Property Sale Proceeds
- Limit: Up to USD $1 million per year (property + other income)
- Conditions:
- Property held for minimum period
- Capital gains tax paid
- Form 15CA/CB filed
- RBI reporting
Finding NRI Advisors on Riafin
In Your Questionnaire:
- Location Preference: Select "Overseas NRI"
- Country: Specify your country of residence
- Services Needed: Check NRI-specific options
- Time Zone: Mention for scheduling convenience
- Language: Specify if you prefer regional languages
Questions to Ask NRI Advisors:
- How many NRI clients do you serve?
- Which countries do your NRI clients reside in?
- Do you understand FEMA regulations?
- Can you help with DTAA optimization?
- What time zones do you work across?
- How do you handle document collection?
- Do you provide Indian tax filing services?
- What are your fees for NRI clients?
Common NRI Mistakes
Avoid These:
❌ Not updating residential status with banks/institutions
❌ Mixing NRE and NRO funds
❌ Missing tax filing in India
❌ Not understanding repatriation limits
❌ Ignoring FEMA compliance
❌ Failing to update nominations
❌ Keeping uninformed Power of Attorney holders
❌ Not planning for inheritance issues
Getting Started as an NRI
- Complete NRI Questionnaire: Select "Overseas NRI" option
- Gather Documents: PAN, passport, OCI, existing investment details
- Review Matches: Advisors with NRI experience
- Schedule Consultations: Video calls across time zones
- Begin Planning: FEMA-compliant wealth management