It is not very uncommon in today’s times for individuals to have investments in offshore jurisdictions. While HNIs have invariably diversified their investments into various jurisdictions (e.g. through offshore trust structures), due to the global mobility available to individuals in different vocations, having offshore accounts or investments in offshore markets has become even more commonplace.
Many Indians have also started investing in the global stock markets using the liberalized remittance scheme. However, as enticing as the opportunities may sound, one must be aware of the tax implications and reporting requirements of such investments.
Please click here to read the full article by Kumarmanglam Vijay, and Surajkumar Shetty published in Financial Express.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.