If you are moving abroad from India, then surely you are under a lot of stress. From bank details to visa applications, so many in-betweens are there to cause tension. It is bound to be a hassle. This article aims at easing your worries about “how to move abroad from India“.
You might be moving abroad because of higher education new job opportunities or even just for a change of scenery. The reasons might be endless. What matters is that the process is smooth and stress-free for you. What I would recommend is to have a checklist that you can cross off as each task is taken care of.
As for the items on this checklist, we are working on that. Take a deep breath and read this article. Follow it to the last step and you will be good to go. Do not worry you are in safe hands. Just follow the advice on how to move abroad from India and you will have nothing to worry about. What are we waiting for? Let us dive right in.
How to Move Abroad From India: Tips to Move Abroad
Well, this question is answered here. There are certain factors that you have to consider while moving abroad from India. These factors have been mentioned and explained in detail for your benefit.
1. Moving Budget
While moving to another country, you have to consider your budget regarding many things. You have to check insurance, school fees, furniture, rental bonds, and other costs. We have to be considerate of these factors.
Analyze the total cost of these facts and sum it up. Keep that amount saved up. If that is not the case then manage your finances to align your costs with your savings.
2. Savings Account
When it comes to saving, we have to realize that you are moving abroad and you need to save up to live comfortably. You can open up a savings account or just start saving by yourself. There are many ways that you can do this.
In one way, you can save up to 20% of your salary each month and use it for other purposes such as paying off your student loans or something equally important. You can utilize your savings in your rent or house payment.
3. Insurance and Allowances
Set up your monthly budget in such a way that you are setting up payments for your insurance, visa, and rental deposits. Focus on setting up payments for them.
Get yourself good health insurance to cover all the health-related costs. Also, save up some amount of money for your travel allowances. Plane tickets are very costly when you are traveling internationally. Compare your insurance policies and see which ones offer the best coverage. It will be beneficial in the end.
3. Taxes
When you leave India to live abroad, you will need an ITCC which is an Income Tax Clearance Certificate before moving away. You will have to file for that so that your raxes are sorted out. Apply for one as soon as you get the clearance of your visa. Be ready with your salary slips and other documents that they might require.
4. Bank details
Now you might be wondering how you can access a bank account in another country when to open one or how you will be able to manage your finances in a foreign country.
5. NRI Account
Once you have been out of the country for more than 182 days, you will be considered an NRI for tax purposes. At this point, you will have to open up an NRO that is a Non-resident ordinary account so that you can transfer your savings into that account.
As for your new account in the foreign country that you are currently in, it will depend on that country. Visit their banks and check for any programs that apply to you. Maybe you are a student or an employee of the government, then they will have certain programs for you. Research about them.
6. Overseas Bank Account
Once you have set foot in your new country, how will you manage your finances in their local currency? That is why before you leave for India, set up an international bank account where you can save your Indian currency and convert it into the local currency that you need.
Be ready with the conversion costs and pay attention to the currency info of your new country. Be curious and gather knowledge.
Also Read: Transport Car From Bangalore To Kolkata
Documents that You Will Need To Move Abroad
Another important aspect of how to move abroad from India falls under the documents section. You cannot leave your country without certain documents. So go through the list and check whether you have them ready or not.
1. Passport
If you are applying as a student and are under 18, then your passport will only be valid for 5 years. If you are an adult then it will be valid for 10 years. Moving abroad sounds fancy but these steps are the key to moving abroad easily.
If your passport is not ready then get it made. Apply for your passport at the passport office and get started with the process. Also, focus on getting your passport renewed if it has been past the timeline. Take care of your passport and pack it safely for your journey.
2. Visa or Work Permit
If you are shifting to another country in search of new opportunities then get your work permit or visa application cleared. Without this, you will not be allowed entry into your new country.
If you are a student then get your visa application passed. As for your work permit it should be cleared before you move to the new country. These laws are very strict in certain countries. And if you take them lightly it could land you in trouble.
3. Other documents
As you are moving you will also need other documents like your birth certificate, medical records, insurance policies, will, and your bank details. Be ready with these documents when you shift as they will be required in your new country. Keep their copies ready with you.
Also Read: How to move into an Apartment?
Bills and Payments When Moving Abroad from India
Utilities
When you are moving to a new country, you will have different utility costs such as electricity, water bills, postal service, and many other such costs. You should save up for them and set aside some money from your savings. Also make sure that the place you are leaving, you have paid their bills. Clear up any financial transactions before moving.
Medical bills
You should have a savings account dedicated to your health and medical needs. Get health insurance and make sure that it covers your doctor appointments, vaccinations, and any other medical costs. In case you have not yet got medical insurance I would recommend saving up for the case of health. You never know when you might need health checkups. So better to be safe than sorry.
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Conclusion
Well, we have covered all the info on how to move abroad from India. All the basics have been covered and all the important details have been explained. Be curious and be excited. You are moving to another country. This will be a new adventure for you.
Read it up and plan carefully. Follow this article and you will have no problems moving abroad. Best of luck!!
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