nish93

5 ms·

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by nish93 2y ago
Looks interesting, been noodling with some voice bots, let me try this out
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by nish93 3y ago
8621 is hard because the calculations are complex and there are a lot of edge cases, however, once you codify those, it's just a formula. Hence, we use this formula to generate a filled 8621 (based on your inputs on your tax bracket +
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by nish93 3y ago
Yes we have written about 8621 in our blogs, we help in the documentation that individuals require to be compliant for FBAR and PFIC. Post the zero interest rate regime, it's unlikely US will give that much return as it has in the last
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Show HN: Digital KYC and Investing for Indian Expats by Inri (YC W23)
1 points by nish93 3y ago|4 comments
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by nish93 3y ago
Less than 4 hours to go for the event. See you all Bay Area folks at Hacker Dojo today! We and some Indian snacks will be waiting :')
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by nish93 3y ago
This is also a more efficient way of investing, which leads to higher returns because of low tracking errors. The fee more than covers for itself with the return delta you get here, refer the comment on investing in India ETF vs investing h
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by nish93 3y ago
That's true, but going to India is not frequent for a lot of NRIs/OCIs. Also, NRO account essentially means you are putting restrictions on repatriation of that money. For people who want to repatriate back, NRE is much better an
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by nish93 3y ago
Go Green ;) Thanks, let us know if you have any feedback!
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by nish93 3y ago
Yes, on point, we plan to post all of it on our blog ( https://www.goinri.com/blog )
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by nish93 3y ago
We think the market for Indian residents is fairly saturated, lot of upgrades in the last 5 years and already some products which do this. But NRIs/OCIs are still underserved
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by nish93 3y ago
You can apply for a PAN card if you are an OCI holder. Refer to form 49AA here - https://www.protean-tinpan.com/services/pan/pan-index.html This can be done online, attestation will be required though of a copy o
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by nish93 3y ago
Agreed with points on tax and repatriation, that is a core part of the service. On the depreciation, most of the depreciation has happened in the zero interest rate environment, which is unlikely to hold true in the medium term. But yes, ag
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by nish93 3y ago
Over the last 20 years, NIFTY has had a CAGR of 15%. Currency depreciation was 3% every year. So a net gain of 12%. Compared to this, S&P500 CAGR was 7%. We are not talking about stock picking here, since that is anyway individual inves
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by nish93 3y ago
Thanks, if you're interested, do sign up and upload your docs to get started
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by nish93 3y ago
1. Their tracking error (because of frequent currency transactions + cash requirements) cumulates to a large underperformance vs investing directly. In the last 5 years, there's a cumulative return of 14% for INDY vs 69% for NIFTY. Eve
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by nish93 3y ago
Firstly, opening account with Zerodha requires physical paperwork. "Non-Resident Indian (NRI) Zerodha accounts can only be opened offline, unlike regular accounts." https://support.zerodha.com/category/account
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by nish93 3y ago
It is not mandatory for NRIs, only indian residents. Refer below: Aadhaar-PAN linkage requirement does not apply to any individual who is: Residing in the States of Assam, Jammu and Kashmir, and Meghalaya; a non-resident as per the Income-t
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by nish93 3y ago
Agreed with this comment, the 5% is applicable for Indian residents, not NRIs. If the tax status and bank account was not updated to NRI, this would have been incurred.
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by nish93 3y ago
Hmm, we have tiers that reduce the % once your AUM grows. How much monthly fee would you pay btw?
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by nish93 3y ago
It would, unfortunately, the bank account creation requires PAN card (Indian financial identity document) which you cant get if you dont have any ties to India.
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by nish93 3y ago
No, since you are an expat, this rule doesn't apply to you while remitting back your profits. Your capital will go back to your NRE account once you exit your investments, (assuming that's where you invested it from) and then yo
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by nish93 3y ago
Thanks for the amazing response and great questions so far! Just to add - if you are in Bay Area, we are doing an event to clarify all these and similar doubts here - https://lu.ma/inri Keep posting your questions and we&#x
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by nish93 3y ago
We charge a flat 1% advisory fees for all capital invested through us, we have an early bird offer running that waives this off for the first year.
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by nish93 3y ago
No, it's the reverse of Vested. Vested is for Indian residents to invest in US, we are for global NRIs to invest in Indian financial instruments.
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by nish93 3y ago
A few comments on this 1. Yes it's true that INR has depreciated vs $. But all of that depreciation has been coming in the zero interest regime we have been in the last decade. If you see the previous decade, INR was flat vs $ and NIFT
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by nish93 3y ago
Yes, not every fund house serves US / Canada residents and there are nuances in terms of which funds allow digital onboarding. But even after accounting for those rules, there are enough good performing funds available, which we have c
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by nish93 3y ago
Indian indices have given 14-17% CAGR in the last 5 years. Inflation is around 6-7% (hard to cross verify since there's also a lag here). On tax, India and US (along with 80+ other countries) have a Double Tax Avoidance Agreement, so y
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by nish93 3y ago
The outward remittance rules are a part of LRS (Liberalised Remittance Scheme) and applicable only for payments from Indian residents outside. Since repatriation in our case will be by NRIs themselves, through their NRE accounts, this doe
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by nish93 3y ago
The major difference here is that you invest directly through your NRE/NRO bank account in India. This makes your investing more efficient, because you dont face the tracking errors and frequent currency transaction costs that funds ab
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by nish93 3y ago
The major difference here is that you invest directly through your NRE/NRO bank account in India. 1. WAINX is an actively managed fund, if you are just looking for tracking the Indian index (NIFTY), there's INDY here. Their tracki

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