I would like to get information on Bank accounts and Indian tax procedures related to working from Germany. I am from India and will be moving to Germany in two weeks. I have some mutual fund investments and planned to use MFU platform for further Mutual fund investments. There are different choices available and I would like to understand about the choices.
- MFU and NRO
- MFU and NRE
- Demat (Not sure on how to access Demat i.e, through NRE or NRO)
I would like to know the flexible(retrieving in India / Germany ) and tax efficient approach for this. It is not yet decided if I will come back to India after some time or I will be working in Germany.
P.S: I prefer MFU due to the possibility to invest in Direct Mutual Fund plans. In Demat, only limited AMCs are listed. Switching between funds of the same AMC is not possible in Demat mode.
This could be helpful to those who move from India to Europe in general and Germany in particular.
Thanks in Advance.