Festivals, birthdays, anniversaries and other special occasions – those are days when overseas Indians are missed most by their families back home. NRIs feel equally amiss and helpless on not being able to be amongst their people on such occasions.
However, bridging these distances, and keeping the ties are an array of online services which bring home their presence in many subtle ways. Internet services offer a virtual department store to select the most appropriate gift for any occasion. From chocolates and cakes and flowers to apparel and personal toiletries, gifts received through online services do have a special appeal.
Gifts to India are not necessarily restricted to occasions. Most NRIs find it very convenient to shop for their relatives online before their visit to India for several reasons. For one, online shopping saves the hassle of rummaging through products at the department stores abroad. Quite often, apparel and other personal effects may not be in sync with fashion trends in India, or have the right fit. Internet shopping for gifts takes care of these worries, as Indian sites are custom made for local markets, and the probability of the gift being appreciated is perhaps higher than if purchased abroad.
In any case, there is no dearth of reputed international brands up for selection at the virtual gift shops for those who crave for foreign brands. These can be ordered online for gifting relatives in India at far more reasonable prices than they would be paying overseas, not to speak of the savings on baggage costs!
A new dimension to sending gifts to India is evolving, with mundane gifts giving way to more intangible lifestyle experiences. These could be as exciting as having your relative’s portrait sketched in charcoal, or gifting your wife back home with a complete makeover. From a day at the spa, to a ride in a hot air balloon, NRIs can look beyond the jewellery and the electronics which are multiplying in most homes.
Non resident Indians returning to India after an assignment abroad are eligible to bring back personal and used household effects without paying any duty if the stay has been over two years.
However, new or unused articles purchased by the returning NRI invite a duty of 61.2%, though 14 minor appliances are charged 35.2% duty if only one unit of the enlisted appliance is being brought in. More than one unit of an appliance in the concessional category invites a normal duty of 61.2% if the combined value of the articles is over Rs.150, 000.
NRIs returning home are permitted to bring their used vehicles back to India, and new/second hand vehicles lesser than 1600 cc can be purchased just before leaving for India and shipped home.
Customs Clearance
International passengers arriving at any of the Indian airports have to go through either the
Green Channel if they are not carrying articles which invite duty
Red Channel if they are carrying articles which invite duty.
All passengers are required to declare the contents of their baggage correctly. The customs portion of the disembarkation card has to be submitted by green channel passengers before leaving the airport terminal. Passengers walking through the Green Channel caught carrying dutiable articles would invite prosecution and penalty.
A Currency Declaration Form has to be submitted upon arrival if the value of the foreign currency being carried is the equivalent of USD 5000; or aggregate of USD 10,000 in the case of all forms of foreign exchange.
Only Indian passengers returning from overseas are allowed to carry Indian currency of upto Rs.5000
Baggage Rules
The Baggage (Amendment) Rules, 2006 apply to non resident Indians returning home to India. As per the law,
Indian passengers returning from an overseas stay of less than 3 days are allowed to bring back used personal effects except jewellery without paying any duty. In addition, they can bring back other assets within a limit of Rs.12, 000 as accompanied baggage.
Indian passengers returning from an overseas stay of more than 3 days are allowed to bring back used personal effects except jewellery without paying any duty. In addition, they can bring back other assets within a limit of Rs.25, 000 as accompanied baggage
A laptop is also allowed free of duty to any passenger over the age of 18, over and above the permitted articles.
Indian passengers returning from an overseas stay of at least 3 months are allowed to bring back used household effects upto a maximum worth of Rs.12, 000 without paying any duty. In addition, they can bring back other professional equipment within a limit of Rs.20, 000 as accompanied baggage. Professional equipment refers to portable instruments, gadgets and apparatus used by the passenger in his profession, and includes tools used by carpenters, plumbers etc.
Indian passengers returning from an overseas stay of at least 6 months are allowed to bring back used household effects upto a maximum worth of Rs.12, 000 without paying any duty. In addition, they can bring back other professional equipment within a limit of Rs.40, 000 as accompanied baggage
Indian passengers returning from an overseas stay of at least 365 days in the last 2 years, and who have not availed of any concession on duty in the last 3 years are allowed to bring back used personal and household effects upto a maximum worth of Rs.75, 000 without paying any duty.
Customs duty would be levied on articles exceeding the free allowance @ of 35%, plus an education cess of 2% (effectively 35.7%)
The Customs Tariff would also apply to import of alcohol and tobacco products if they exceed the permissible limits.
In the case of Jewellery, male Indian passengers who have lived abroad for more than a year are entitled to bring back articles worth Rs.10,000, while female passengers are allowed up to Rs.20,000
NRIs visiting India are allowed personal effects and other articles which they would be taking back with them on their return abroad
Can authorized dealer grant loans to NRIs for acquisition of a flat/house for residential purposes?
Authorized dealers have been granted permission to grant loans to non-resident Indian nationals for acquisition of house/flat for self-occupation on their return to India subject to certain conditions. However, repayment of the loan should be made within a period not exceeding 15 years out of inward remittance.
What are the schemes available to NRIs for direct investments in India with repatriation benefits?
In the new issues of shares/convertible debentures of Indian companies, there are direct investment schemes such as 24% scheme/40% scheme/100% scheme.
Domestic Mutual Funds floated by public/private sector institutions/companies and bonds issued by public sector undertakings is also a good option.
How can an NRI obtain permission of Reserve Bank for investment in a sick industrial unit?
Application for permission should be made by the Indian company to the Central Office of Reserve Bank in Mumbai in form RSU.
Non Resident Indians (NRIs) are permitted to invest in real estate in India, without being subject to caps on the number or quantity of investments. The Indian Government gives preferential treatment to the NRIs to bring in valuable foreign exchange. NRI real estate investment is, however, governed by certain rules under the Foreign Exchange Management Act, 1999.
Foreign Exchange Maintenance Act: Regulations of Real Estate Investment for NRIs
According to FEMA, an NRI can purchase an immovable property in India with inward remittances from a bank account outside India or through a special NRI account within the country. FEMA also stipulates that prior to purchasing a real estate property, an NRI has to fill a specific form, called the IPI 7, with the central office of RBI. An NRI is also mandated to submit a copy of the title deed or any such document, proving that s/he has executed an agreement to buy a property in India.
Important Clauses under the Foreign Exchange Management Act
Some other clauses under the Foreign Exchange Management Act regarding the NRI real estate investment are:
Sale of property: An NRI seeking to sell the property is subject to mandatory lock-in period of three years. Under FEMA regulations, an NRI can only sell the property after three years have lapsed since the date of acquisition of the property or the date of payment of final installment, whichever is later.
Repatriation of sale proceeds: While it is easy for an NRI to remit inwards in India, outward remittances are subject to several legal bottlenecks. FEMA states that the amount of repatriation must not exceed the funds paid for acquisition of the property, regardless of the actual sales proceeds received. Moreover, an NRI can only repatriate the sales proceeds of maximum two properties, and the returns from real estate investment in India cannot be repatriated as dividends.
»Invest in Real Estate India
»FDI in Real Estate
»Investment Opportunities
»Investment in Retail Sector
»FDI in Retail Sector
»Portfolio Investments Schemes
»NRIs: Return to India
»Invest in Stock Market
»Invest in Indian Companies
»NRI Investment Issues
Can NRIs obtain loans for buying a house/flat for residential purpose from financial institutions providing housing finance?
Reserve Bank has granted general permission to certain financial institutions providing housing finance to grant housing loans to non-resident Indians for acquisition of houses/flats for self-occupation subject to certain conditions.
Q1.: Who is a Non-Resident Indian (NRI)?
Q2.: Who is a person of Indian Origin (PIO)?
Q3.: What is an OCB?
Q4.: Can NRIs and Overseas Corporate Bodies (OCBs) invest in India?
Q5.: How should purchase considerations for the residential immovable property be paid by foreign citizens of Indian origin under the general permission?
Q6.: Is there a limit to the number of investment in acquiring commercial properties in India?
Q7.: Can a person of Indian origin acquire any immovable property in India by way of inheritance?
Q8.: Are NRIs permitted to send remittances outside India out of the assets in India that are inherited by them?
Q9.: What is the approved method of sending remittances into India?
Q10.: At what rates are remittances in foreign currencies made by NRIs converted by banks into rupees?
Q11.: What is Foreign Exchange Management Act (FEMA)?
Q12.: Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?
Q1.: Who is a Non-Resident Indian (NRI)?
Ans.: An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident.
(Person Posted in U.N organizations and official deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-temporary assignments are also treated as non-residents).
Non-resident foreign citizens of Indian Origin are treated on par with non resident Indian citizen (NRIs).
Q2.: Who is a person of Indian Origin (PIO)?
Ans: A Person of Indian Origin (PIO) is a citizen of any other country but whose ancestors were Indian nationals at least four generations away.
Q3.: What is an OCB?
Ans: Overseas Corporate Bodies (OCBs) are bodies predominantly owned by individuals of Indian nationality or origin resident outside India and include overseas companies, partnership firms, societies and other corporate bodies which are owned, directly or indirectly, to the extent of at least 60% by individuals of Indian nationality or origin resident outside India as also overseas trusts in which at least 60% of the beneficial interest is irrevocably held by such persons.
Such ownership interest should be actually held by them and not in the capacity as nominees. The various facilities granted to NRIs are also available with certain exceptions to OCBs as long as the ownership/beneficial interest held in them by NRIs continues to be at least 60%
Q4.: Can NRIs and Overseas Corporate Bodies (OCBs) invest in India?
Ans:
Investments by NRIs and OCBs are allowed, both, through the RBI route and also through the Government route, i.e., through the Foreign Investment Promotion Board (FIPB).
NRIs and OCBs are permitted to invest up to 100% equity in real estate development activity and civil aviation sectors.
Investment, made by the NRIs and OCBs, are fully repatriable, except in the case of real estate, which has a 3 year lock-in period on original investment and, 16% cap on dividend repatriation.
For those proposals that do not qualify under the automatic route, Government approval is granted through FIPB.
Q5.: How should purchase considerations for the residential immovable property be paid by foreign citizens of Indian origin under the general permission?
Ans: The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR accounts maintained with banks in India.
Q6.: Is there a limit to the number of investment in acquiring commercial properties in India?
Ans: No, as far as quantity of NRI investment is concerned in real estate investment in India there is no limit on the number of investments can be made in commercial properties in India.
Q7.: Can a person of Indian origin acquire any immovable property in India by way of inheritance?
Ans: A person of Indian origin, resident outside India, may acquire any immovable property in India by way of inheritance from a person, resident outside India, who had acquired such property in accordance with the provisions of foreign exchange law in force at the time of acquisition by him or the provisions of Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000. Immovable property, by way of inheritance, can also be acquired by a person of Indian origin resident outside from a person resident in India.
Q8.: Are NRIs permitted to send remittances outside India out of the assets in India that are inherited by them?
Ans: Yes. RBI will consider application from NRIs for remittance of assets, inherited by them in India. Such remittance may be permitted up to US$ 100,000 per year.
Q9.: What is the approved method of sending remittances into India?
Ans: The approved method of sending remittances into India is through normal banking channels.
Q10.: At what rates are remittances in foreign currencies made by NRIs converted by banks into rupees?
Ans: Such remittances will be converted by banks at the market rate of exchange.
Q11.: What is Foreign Exchange Management Act (FEMA)?
Ans: Residential status and nature of transaction i.e. capital account transaction (e.g. purchase/ sale of shares, property) or current account transaction (e.g. remittance of income on shares, property) are the cornerstones of FEMA. Under FEMA, certain types of transactions do not require RBI permission while others either require prior approval of RBI/ Government or it is mandatory to inform RBI of the same.
Q12.: Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?
Ans: Yes. A person of Indian origin resident outside India may transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India who is a citizen of India or to a person of Indian origin resident outside India. A Person of Indian origin resident outside India may also transfer by way of gift agriculture land/farm house/plantation property in India to a person resident in India who is a citizen of India.
Creativity:
This is one virtue a site must possess to lead the race in the ruthless competition in the Internet based business. With so many competition and rivalry going on, every method of marketing must be employed and utilized.
It doesnt matter if you have a killer product or a fantastically designed website, if people don't know that you exist, it doesn't matter, and you are not going to make it big. Worse of all, you business could just get killed.
While there are so many methods and schemes used by so many e-commerce sites today, there are still some of those that can help you with an extra boost in the popularity ratings. One of these is the so called Viral Marketing.
While the term Viral easily depicts a virus, a word very much dreaded by all computer owners, it is not what it seems. You do not actually use a computer virus to spread your business; on the contrary it just might kill you. Everyone has had enough of all those pop up ads and spywares.
Viral Marketing Overview:
Viral Marketing also known otherwise as Viral Advertising is a marketing technique used to build the public awareness of one's product or company. They use many forms of media to reach out to the public without actually promoting the product by riding on in other forms of addictive means that could get a person hooked and be obliged or amused to actually pass it on, with the product or company advertisement along with it.
In a nutshell, companies ride on the idea that if people like the content of a media they will pass it on to their friends and family. They sponsor the certain media, such as a cool flash game, funny video, amusing story and such, which one may pass on to another with the company brand or logo or the products description or any other content to help promote the company or its product.
Viral marketing has become a popular means of advertising and marketing because they are relatively low cost. To avoid being tagged as spam mail, viral marketing counts on the eagerness of one person to pas on the product. If a person sees the name of the person they know as the sender, they won't block it and open it as well.
Many companies offer incentives such as discounts and rebates when they help in spreading their viral marketing. They rely on the number of recipients a viral marketing gets from one person in determining the amount or number of incentive they can be attributed with.
Using Viral Marketing to advantage:
The main and foremost advantage of viral marketing is that you get a lot of publicity and public awareness about your site and your company. You get to generate a flow of traffic that are potential customers. With a little ingenuity and imagination, plus some incentives or prizes, you can reach out to a great number of people and announce your existence.
Most every site and companies are catching on to the effectivity of Viral Marketing and Advertising. Not using it could kill your business. Along with other schemes and methods in promoting your site, like Search Engine Optimization and such, viral marketing could easily push you ahead in the rating games.
“Free” is the most powerful word in a marketer’s vocabulary. Most viral marketing programs give away valuable products or services to attract attention. Free email services, free information, free “cool” buttons, free software programs that perform powerful functions but not as much as you get in the “pro” version. Wilson’s Second Law of Web Marketing is “The Law of Giving and Selling”. “Cheap” or “inexpensive” may generate a wave of interest, but “free” will usually do it much faster. Viral marketers practice delayed gratification. They may not profit today, or tomorrow, but if they can generate a groundswell of interest from something free, they know they will profit “soon and for the rest of their lives” (with apologies to “Casablanca”). Patience, my friends. Free attracts eyeballs. Eyeballs then see other desirable things that you are selling, and, presto! you earn money. Eyeballs bring valuable email addresses, advertising revenue, and ecommerce sales opportunities. Give away something, sell something.
2. Provides for Effortless Transfer to Others
Public health nurses offer sage advice at flu season: Stay away from people who cough, wash your hands often, and don’t touch your eyes, nose, or mouth. Viruses only spread when they’re easy to transmit. The medium that carries your marketing message must be easy to transfer and replicate: email, website, graphic, software download. Viral marketing works famously on the Internet because instant communication is easy and inexpensive. The digital format makes copying simple. From a marketing standpoint, you must simplify your marketing message so it can be transmitted easily and without degradation. Short is better. The classic is: “Get your private, free email at http://www.hotmail.com.” The message is compelling, compressed, and copied at the bottom of every free email message.
3. Scales Easily from Small to Very Large
To spread like wildfire, the transmission method must be rapidly scalable from small to very large. The weakness of the Hotmail model is that a free email service requires its own mail servers to transmit the message. If the strategy is wildly successful, mail servers must be added very quickly or the rapid growth will bog down and die. If the virus multiplies only to kill the host before spreading, nothing is accomplished. So long as you have planned ahead of time how you can add mail servers rapidly you’re okay. You must build in scalability to your viral model.
4. Exploits Common Motivations and Behaviors
Clever viral marketing plans take advantage of common human motivations. What proliferated “Netscape Now” buttons in the early days of the web? The desire to be cool. Greed drives people. So does the hunger to be popular, loved, and understood. The resulting urge to communicate produces millions of websites and billions of email messages. Design a marketing strategy that builds on common motivations and behaviors for its transmission, and you have a winner.
5. Utilizes Existing Communication Networks
Most people are social. Nerdy, basement-dwelling computer science graduate students are the exception. Social scientists tell us that each person has a network of 8 to 12 people in his or her network of friends, family, and associates. A person’s broader network may consist of scores, hundreds, or thousands of people, depending upon his or her position in society. A waitress, for example, may communicate regularly with hundreds of customers in a given week. Network marketers have long understood the power of these human networks, both the strong, close networks as well as the weaker networked relationships. People on the Internet develop networks of relationships, too. They collect email addresses and favorite website URLs. Affiliate programs exploit such networks, as do permission email lists. Learn to place your message into existing communications between people, and you rapidly multiply its dispersion.
6. Takes Advantage of Others’ Resources
The most creative viral marketing plans use others’ resources to get the word out. Affiliate programs, for example, place text or graphic links on others’ websites. Authors who give away free articles, seek to position their articles on others’ webpages. A news release can be picked up by hundreds of periodicals and form the basis of articles seen by hundreds of thousands of readers. Now someone else’s newsprint or webpage is relaying your marketing message. Someone else’s resources are depleted rather than your own.
Cloud Computing is a technology that uses the internet and central remote servers to maintain data and applications. Cloud computing allows consumers and businesses to use applications without installation and access their personal files at any computer with internet access. This technology allows for much more efficient computing by centralizing data storage, processing and bandwidth.
Cloud computing is broken down into three segments: "application" "storage" and "connectivity." Each segment serves a different purpose and offers different products for businesses and individuals around the world.In Sept 2011, an Aberdeen Group study found that disciplined companies achieved on average an 68% increase in their IT expense because cloud computing and only a 10% reduction in data center power costs.
Cloud Computing Segments
Transparency Market Research
Cloud computing is a technology which uses internet and one remote server to maintain data and various applications. Cloud computing provides significant cost effective IT resources as cost on demand IT based on the actual usage of the customer. Due to rapid growth, many companies are unable to handle their IT requirement even after having an in-house datacenter. Cloud services helps to improve IT capabilities without investing large amounts in new datacenters. This technology helps companies with much more efficient computing by centralizing storage, memory, processing and bandwidth.
Applications
missing..
Store
Connectivity
Cloud Computing Deployment Models and Concepts
Community Cloud
Community cloud shares infrastructure between several organizations from a specific community with common concerns , whether managed internally or by a third-party and hosted internally or externally. The costs are spread over fewer users than a public cloud (but more than that of a private) to realize its cost saving potential.
Public Cloud
Definition
A public cloud is established where several organizations have similar requirements and seek to share infrastructure so as to appliance. In addition, it can be economically attractive as the resources (storage, workstations) utilized and shared in the community are already exploited.
This is the cloud computing model where service providers make their computing resources available online for the public. It allows the users to access various important resources on cloud, such as:Software, Applications or Stored data. On of the prime benefits of using public cloud is that the users are emancipated from performing certain important tasks on their computing machines that they cannot get away with otherwise, these include:Installation of resources, their configuration; and Storage.
Advantages of using Public Cloud
For obvious reasons, public cloud is bound to offer a multitude of benefits for its users, which can be sensed by its ubiquitous demand. Some of the most important ones are mentioned here:s
Efficient storage and computing services
Inexpensive, since all the virtual resources whether application, hardware or data are covered by the the service provider.
Allow for easy connectivity to servers and information sharing.
Assures appropriate use of resources as the users are required to pay only for the services they require.
Highly reliable and redundant.
Widespread availability irrespective of geographical precincts.
Sets the business people free from the hassles of buying, managing and maintaining all the virtual resources at their own end, the cloud server does it all.
Public cloud, in today's advanced workplace, empowers employees and enable them to become productive even when outside the office. The SaaS model ensures that corporations save on IT
The main aim of the NZIS having a Skilled Migrant category is to ensure that skills shortages are avoided or addressed. These shortages are not in all industries so NZIS have set up a list of "Essential Skills in Demand" which they use to ensure only the skills which are missing in New Zealand are supplemented.
These shortages are also not experienced in all geographical areas of New Zealand. With 25% of the population being concentrated in the Auckland region, NZIS would prefer to bring in skilled migrants that will settle outside of Auckland so that they can help the economy grow in these areas.
They have also identified industries which have the potential to show strong growth in the future which they want to stimulate to help increase the economy. You are thus more valuable to the country if you willing / able to work in one of these identified future growth areas.
The future growth areas are :
Biotechnology
Information Communications Technology
Creative industries (Advertising, Software & Computing Services, Publishing, TV and Radio, Film and Video, Architecture, Design, Designer Fashion, Music and Performing Arts, Visual Arts).
NZIS also wants to attract immigrants that will integrate well into New Zealand. Some factors that contribute to this are whether you know the country already through previous work in New Zealand, if you are currently working in New Zealand, if you have immediate family in New Zealand, if your partner is able to work in New Zealand, if you and your partner have a good command of English, etc.
You are also able to contribute more to the country if you are young as you have more productive years ahead of you.
NZIS have sat down and decided which of the above points are more and less important and given each factor a point according to how important they are to their immigration objectives. The more important, the higher the point. This allows for a fair and standard model for assessing potential immigrants to New Zealand.
If You Have Enough Points
Every year NZIS is given a quota of immigrants they are allowed to grant residence to. This quota is set by the government at the end of June. For the 2009 / 2010 year it has been set at 45 000 to
50 000 approved places. Of these places it is estimated that between 26 800 and 29 950 will be granted to those applying under the Skilled Migrant option.
Obviously there are more people wanting to come to New Zealand than the available places. NZIS then rank the applications in decending order. They then choose the most valuable candidates and progress down the ranks until their quota is full.
In order to speed up this process and not waste their, or your time, they have structured the immigration process into two steps :
Expression of Interest (EOI) - where you tell them what you have and they calculate your points based on that information. If you have enough points you go into a pool along with the other canididates. From that pool the best candidates are selected and invited to apply for residence. Invitation to Apply (ITA) - You are required to prove what you said you have in your Expression of Interest. If everything checks out okay, you are granted residence.
Currently the minimum points you need in order to submit your Expression of Interest is 100, but this just means that you will be accepted into the pool of EOI's (Expression of Interest). Every two weeks NZIS selects the best applicants with the highest points first, then those with lower points after that. When the quota has been reached, all the remaining applicants are returned to the pool. Your application can remain in the pool for up to 6 months.
The pecking order for selecting applications is as follows :
Points totalling over 140 - automatic selection
All EOIs with a job or a job offer claiming points between 100 and 135 points.
All EOIs claiming 15 points for work experience in an area of absolute skill shortage and with a points total between 100 and 135 points.
All EOIs claiming 10 points for work experience in an area of absolute skill shortage and with a points total between 100 and 135 points.
All EOIs claiming 10 points for a qualification in an area of absolute skill shortage and with a points total between 100 and 135 points.
All EOIs with a points total of 115 points where there are no points claimed for a job or job offer, work experience in an area of absolute skill shortage, or qualification in an area of absolute skill shortage.
.jpg)
