Moving abroad involves more than securing a visa, job or admission letter. It also means reviewing Indian bank accounts, investments, loans, taxes and insurance before departure. A recent Financial Express article outlines eight common financial mistakes Indians should fix before becoming NRIs, from redesignating bank accounts to building an emergency fund and planning for the long term rather than just the length of a visa.
Suresh Rajan, Founder & Executive Chairman at LCR Capital Partners, states, “The visa has a length, so the plan quietly takes on the same length, and decisions that need a fifteen-year horizon end up being made on a three-year one.”
