Wednesday, January 18, 2017

What to do when you become a NRI

Well, I started writing the blog to help out folks like me who are preparing for PTE but do not find any material online for studies. I realized that once PTE is successfully cleared and one comes overseas there is a lot that needs to be done. In that spirit, here is some information for people migrating from India to Australia:

First things first, if you still are appearing for your english tests, this link will guide you in your preparation for PTE. For those who are still clueless about PTE visit the page to know more.

If you are still reading further, hopefully you are all set and done with your tests and other immigration requirements. Once you travel to Australia there are a few mandatory things that you need to do:
1. Open a bank account - very obvious, since you will need an account to handle your monies. If you havent yet read this blog, you could get $75 for opening a day to day savings account.
2. Apply for TFN - If you are a working person, then you need to apply for Tax Filing Number with the ATO. Its  a pretty straightforward process and you will get your TFN delivered at your address. Speaking of which, I will write a separate blog on searching house in Australia.
3.Apply for super annuation. There are a lot of super annuation options available and you can decide which one to choose based on how much money you want to invest in various money market instruments. I found AustralianSuper as a decent bet.
4. If you are planning to stay out of India for longer, then you would have to convert your Indian savings bank account to a NRE or NRO account. A detailed blog on the details of how to go about it will follow soon..

These steps have made the remaining of my stay here in Australia a bit smoother, hope it helped you as well .
Did I miss any step, should I have done something better? Do let me know. 
Cheers!

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