Any idea where to Invest $1M dollar after transferring to India?.

[ShrimaanJi]

Hello Friends,

Any idea where to Invest $1M dollar (first tranche) after transferring to India?. I am a USC hence may not be allowed to invest in Indian Mutual Funds unless I am in ROR (My impression. Correct me if I am wrong) status. Hence, I thought, I will transfer to HDFC NRE Account and invest in Fixed Deposits. I hope they will let me invest in FDs. I am will be completing 58 soon and will relocate to India after 3 -4 years.

Any Thoughts,

[old-spice2]

As USC your choices are limited to FD and RE. You can open FD in 2-3 different banks and spread the deposit.

[ballare]

If one is moving to India for trying retirement, maybe best not to transfer any funds. Best would be to sponsor retirement with any income or assets in India. If not, still keep the money invested in US, withdraw amount as needed. Easier with the taxes and no hassles repatriating later. With the current interest rates in US and rupee depreciation, Indian FD doesn't look as appealing as before maybe. Our time horizon for retirement to India if it works out is around the same time, around 58-60.

[SAPPORO]

Op, unless you're renouncing the USC, it's not advisable to move large sums of money to India.
It cannot be undone without incurring heavy losses, losing the exchange rate advantages, nothing like FDIC insurance in India, current higher guaranteed interest rates in the US, Huge tax burdens in India once you lose the NRI status and so on..

[ShrimaanJi]

Thanks for the replies, folks.