“Strategic Cross-Border Wealth Management: A Move Back to India”
The Multinational
Aman Sen
Situation
Aman and his wife were both based in the US, so was their extended family. The couple had studied and worked in the US and were quite comfortable there. Then they decided to move to India with their son who had just started school. Aman joined a startup.
Challenges
The family continues to face a few health issues. Most worrisome was the condition of Aman’s father in India, who, unfortunately, passed away a few months ago. They are certain they will be in India for at least 10 years, and are open to retirement in both India and the US. The challenge was deciding how much money to move to India to meet their goals here.
Financial Approach
Aman has built up a sizable corpus in the US. Taking a practical view of the family’s overall health scene, our first priority has been to ensure, should something unfortunate happen, the family would be able to keep most of it, keeping in mind tax and remittance issues.
Family involvement
Aman’s wife, Asha, joins him in all our meetings as it ensures both of them are on the same page always.
Where we are
- When we began working with Aman Sen nearly two years ago, we had been engaged by his employer for the benefit of their employees, including Aman. Later, he left the job but retained us to handle his personal finances.
- Aman has now left the startup as the wealth he has built up so far is enough to meet all the goals he has set for himself and the family.
- While life will always pose challenges, we encourage them to focus on what they would like to do, for themselves and for their child.
- We are always tuned to their expectations and ambitions and we ensure that their financial plan keeps pace.
- We are mindful of the challenges the family faces, particularly on the health front. We ensure that all our communications and meetings take up only two or three issues that are most urgent at that point in time. This makes it easier for Aman and his wife to understand, act and stay on top of things.
Technical Aspects of Our Strategy
01
Portfolio Allocation
We recommended that the portfolio be allocated with 50% in India and 50% in USD.
02
Utilization of Capital Gains
We advised utilizing capital gains from ESOPs into property to avoid capital gains.
03
Tax Coordination
We connected them with tax experts in both India and the US for their tax filing requirements.
03
Tax Coordination
We connected them with tax experts in both India and the US for their tax filing requirements.
International Money Matters Pvt. Ltd. / IMMPL / International Money Matters (SEBI Registered Investment Advisor) | SEBI RIA Registration no. – INA200010676 | Type of registration – Non individual | Validity of registration – (24th May, 2018)— Perpetual | Registered office address – 101-103, Mittal Tower, A Wing, 1st Floor, M G Road, Bengaluru-560001 | BASL membership Id- 1519 | ARN – 30846 | CIN – U36941KA2002PTC031245 | GST No. – 29AABCI3975Q1ZQ | Principal Officer & Managing Director – Lovaii Navlakhi ( Lovaii@immpl.com) | SEBI local office address – Securities and Exchange Board of India, 2nd Floor, Jeevan Mangal Building, No.4 , Residency Road, Bengaluru – 560025, Karnataka.
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL and the certification from National Institute of Securities Markets (NISM) in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Secure your financial future now
International Money Matters Pvt. Ltd. / IMMPL / International Money Matters (SEBI Registered Investment Advisor) | SEBI RIA Registration no. – INA200010676 | Type of registration – Non individual | Validity of registration – (24th May, 2018)— Perpetual | Registered office address – 101-103, Mittal Tower, A Wing, 1st Floor, M G Road, Bengaluru-560001 | BASL membership Id- 1519 | ARN – 30846 | CIN – U36941KA2002PTC031245 | GST No. – 29AABCI3975Q1ZQ | Principal Officer & Managing Director – Lovaii Navlakhi ( Lovaii@immpl.com) | SEBI local office address – Securities and Exchange Board of India, 2nd Floor, Jeevan Mangal Building, No.4 , Residency Road, Bengaluru – 560025, Karnataka.
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL and the certification from National Institute of Securities Markets (NISM) in no way guarantee performance of the intermediary or provide any assurance of returns to investors.