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6 Comments

  1. ahmed
    March 14, 2024 @ 5:54 pm

    1. My credit union allowed (small CU) to set international adress and phone numbers. no issues with that.
    2. Chase bank though – I used to get calls for verifications, the IVR doesnt work properly but if you keep trying – they will work. had hard time, but was able to get international verification calls with them.
    2. Brokerages – Charles Schwab and Interactive Brokers supported resident indian accounts. I opened new accounts with them with indian addresses and phone numbers. No problems, getting OTPs on my indian phone number.

    Reply

    • Avan Vora
      March 15, 2024 @ 8:48 am

      Thanks a lot for sharing! I will update the article with this information.

      Reply

  2. Ahmed
    March 14, 2024 @ 5:56 pm

    Actually, something I learned about estate taxes for NRs scared me. If something happens to me – getting money for my wife and kids would not be that easy.

    Any tricks there? May be – share passwords and everything, so they can withdraw as if I am alive. But, it would be a problem, if the money trail gets stopped anywhere.

    Reply

    • Avan Vora
      March 15, 2024 @ 8:57 am

      Yes, always a risk. Estate taxes for Non-residents are extremely high with a very low limit. I think sharing passwords is also not a foolproof way and is probably a grey area. As of now, I have not yet come across a reliable way to avoid estate taxes. I will update this thread and the article if I do.

      Reply

  3. Roshan
    September 2, 2024 @ 9:32 pm

    Once you start filing your taxes in india as resident, you need to declare all your foreign assets I believe like accounts, brokerage even if you dont make any income out of it.

    Reply

    • Avan Vora
      September 3, 2024 @ 5:26 pm

      Yes, you are right. Once RNOR ends, you need to declare all foreign assets.

      Reply

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