One of the most rewarding methods of reaping high profits from your savings is by making alternative investments in foreign countries or even in your mother country, if you happen to be an immigrant in some country. These schemes prove to be lucrative options for getting extra benefits from the saved amount and also imparting to the development of economies as such.
Trying to use our money to generate more of it is something to which all of us look forward to. One of the easiest ways to do this is to invest in foreign stock markets through the means of alternative investments. This is because of the recent rise that some of the international stocks have displayed. Some of these markets belong to fast growing and developing countries and they represent a great collection of small and big companies which are proving their worth on a global scale.
These markets are proving to be lucrative grounds for investors from within and even for those who come from outside their countries. The reasons for this are the various kinds of schemes and investment options they put before the potential investors. Non Resident Ordinary (NRO) is one such scheme. This investment scheme is open for those investors who reside abroad and have taken up employment outside their own country. These schemes are made available to them by their mother countries, so that they can invest their wealth back home and reap the interests for their invested sum. Alongside, they are even able to impart to the growth of their country by making these investments.
Under these schemes, the Non residents are supposed to open their savings account in a bank in the mother country and deposit the money that has been remitted from their current destination. The amount deposited thus, comes under the rules and legislation of the mother country’s financial laws, hereby they have to pay tax for that amount. However, upon opening the account, the account holder gets a healthy sum of money as the interest for their deposited amount. It must be known that the governments mostly offer a high interest rate for the savings made by their non-resident citizens. Therefore, these accounts act as a back-up support for these residents, for they can make alternate investments through them.
Other than these schemes, the gold deposit scheme is also a common mode of investment that people take up and alternative methods of investments. These schemes allow investors to deposit their gold in the banks for a fixed time period; and for their invested value of gold, they obtain a certain percentage of interest. These schemes are open to all, whether it is an individual, a company, a trust etc. On depositing the gold, the bank rewards the investors with a gold certificate which has to be reproduced at the time of policy maturity. Most of the times, customers use their idle gold to invest in these schemes so that they can earn an income from it and it doesn’t lie stagnating in their safe or bank lockers.