I would like to purchase a house in Germany but unfortunately with my savings here it is not possible.In India i have crores worth of ancestral property of which if i sell some part can get a nice house here.
Now my question is after selling some property in India how can i transfer the money here,if i pay tax to Indian and German government then i am left with nothing.What would be the best way to get the money to Germany approx € 800,000.

@raj2001

There are couple of options:

1. Sell the property to an NRI and ask him to wire the money directly to your german or swiss bank account.

2. Sell the property in India and transfer the entire amount to your 8 blood relatives, under FEMA, RBI allows your blood relatives to send as much as $100,000 per year to their relatives abroad for family maintenance.

3. Sell the property in India and transfer the entire amount to your NRO account. You can transfer upto 1 Million USD per year to your account abroad.

http://www.rbi.org.in/SCRIPTs/BS_FemaNotifications.aspx?Id=2602

Raj,

If you have good savings and if you want to invest some, then you can check site of a friend of mine. He is very ambitious and is starting an IT company in Germany. He is inviting people to invest in his projects and is offering good returns. He is very friendly, so if you have any questions then you can directly write to him.

www.nishant.de

@viking:

This looks like a fraud site. Your friend is claiming that 20 times return on investment.
We also receive sometimes emails (spam), about this type of offers by mail and that they will double your money but your friend without even registering a company in Germany want to do business (giving assurance of 20 times returns)and you think that some fools will give him their hard earn money, i do not think so that in this way he will even get one cent.

Have a nice weekend.

There are many here who post messages on behalf of their friends as above Mr. Viking posted message advertising for Mr. Nishant.I can say these are both the same person,only Nishant don't want to directly post a message so he use another account
Now i have gone through the website of Nishant and in simple term i would say its a crap.This guy is some Software engineer and did some projects and looking at his educational professional background he is having zero experience in finance then how he claims such stupid things.It looks like working on some client project he got this idea and dreams to makes fool of people.Also he is not ready to give any security for your money and he does not have even a Company registered or any partners.This is not the way business works my friend.
There are many frauds like this from India operating in Dubai,UK and US who doing similar business and no doubt in India in every corner you find one who give assurance of 50 times returns What is this some kind of Chit Fund you making fool of people.
Thanks Akshay for the information you gave and i will use one of them to get the money here but no way invest in any Nishant Chit Fund ;)

Nishant is a clone of Madoff..

Quoting Trust7 "There are hundreds of lawyers who specialise in going through the offers and websites of companies with a fine-tooth comb to see whether these are in line with the regulations. If these ‘lawyers’ find any triviality, they send an ‘Aufforderung’ (summons) to the website operator or the company’s proprietor demanding the removal of the incorrect formulation, allegedly in accordance with competition laws, but actually so they can pocket a few hundred euros in lawyers’ fees".

@Viking There is a good possibility Nishant.De may be sued.

@UMTS11

Your reaction is right but its not a fraud site. I know him. Its his personal site and not a company site. With this site, he just wants to give an overview of himself and about his plans. He has given his personal details. A person who wants to do fraud will not do that. He has registered the company and have some investors ready. I think that I am a bit quick in mentioning his site here, as he is still in the process of finishing the legal formalities.

He is offering 20 times because he says that what he is offering is still less than losing share of his company to a venture capital firm (returning 20 million for 1 million is still less than returning 500 million for 1 milion). He has big plans. He is taking all the steps after consulting lawyers and tax consultants. So don't worry on that end.

As far as I know, he plans to launch the small project in early 2010 and expects that the investors may get back their investments at the end of first year. This is all what I know. I don't know much about his business plans. You can directly check with him and he can give you much better answers.

The one who will give him money is a fool or not, I cannot say, because I am also investing 5000€ in his project and I don't think that I am a fool ;-)

As I mentioned, I am not the right person to advocate his plans. Please check with him directly


You too have a nice weekend!

Raj2001 or stutt23 or any one else who wants to continue this discussion or criticism....
I have just written what I wanted to write. If I am viking or nishant :-) ha..ha.. you can imagine whatever you want. Atleast, I can confirm one thing that nishant is a software professional. Whether his idea is a crap or not, time will tell. I don't want to get into justifying his claims or whether we are 2-in-1 or 1-in-2 :-) but since I am also an Indian and am proud to be, something which I would like to say is that even in Germany you can find frauds and scams in politics or in reputed companies. Its everywhere and not only in India or from Indians. There are lot of success stories about indians. So why not we ever highlight the name of indians for good things. Or do you think that indians cannot come up with something good, something innovative. Microsoft, google, IBM are all full of indians. Lakshmi mittal in UK is Indian. I don't remember other examples right now but there are lots of them. Zero was invented in India. There are lot of people who read these forumns -indians and non indians- so whatever impression we give, they get it. So what I mean is that I like to hear good things about Indians. But you guys are also right in your point-of-view, after all we are a population of more than 1.1 billion and not everyone could be the good guy. Still, I would say that India is great.....

I am always afraid of posting in this forumn, because there is someone or the other who is always ready to fire :-) today it was my chance to get hunted down.

Happy hunting!
Cheers

You don't know much about his business plan or project and at the time you are investing €5000 and also advertising it here,this is what called true friends
This is a public forum and everyone post their views so don't think you being hunted down.I only don't want that my fellow Indians who are working hard to make some savings loose it to some fraud.
As per Indian education system Mr. Nishant born on 1974 should have graduated by 1994-95 whereas he graduated in 2001 so did he spend 7years planning for the above project just curious ;)before investing on any project i always check the background of the person his company and even his family members ;)

@all,

nishant.de doesnt look impressive but cut and paste of a flop bollywood script.

Look at his homepage. It clearly sends message that this guy nr.1 in taking risks. He displays a photo sitting with a cute kid without kid seat. I hope this photo is taken while car not moving and is while not in Germany, otherwise he is lucky to eascape cops sight.

Is he talking of simliar risks ??

@subir79

just chill dude, looks like they are traveling in train.

according to law of nature, only the ones like NISHANT, who try to do something creative are criticized, whereas losers who dont have any visions, just get away with everything.

Nishant...you rock dude!!! Good Luck!!

@Raj2009

....kab tak goroon ki gulami karo gay????

Thats the problem with you 3rd world moron. Apart from being uncivilized and primitive you are also ungreatful to your employers. Who is stopping you from going back to India and licking ass/cock/balls of your desi boss?

At least you are paid better in europe. If at all you have to prostitute yourself then you might as well go for the highest payer.

@Raj2009

Your word shows where you come from.
Don't worry crap like you will soon pack up and return to India to the right place where you should be.

//kab tak goroon ki gulami karo gay????//
@Raj2009

atleast i am not begging for money but doing a decent job here and earn my living. Why you or someone like you try your innovative ideas in india? it will be very unfortunate if your employer knows that you are doing Gulami and not your job!!!

@Raj2009

Indians shining!!!

Regardsless of what others think of you I would still like to offer you a way to save your face.

Just answer my one question and we are quit:

What makes you think that working in Germany is submitting yourself to slavery and how it is not so in India?

Raj2001 and to all others

First I would like to apologize that this discussion started under your thread. It was good of viking to start it in trust7 because I myself would have started it sooner or later. I can understand that you or others will get wrong impression from the site. I made this site for myself, for my friends and people in known circle. Since the discussion has started, let me try to tell you about myself.

About my background, I don't have strong or rich background. I am from a middle class family. My father is manager in some small company, my mother is housewife and practices homeopathy, my youngest brother is a professional dancer in India, he has performed in many movies and many international shows and the brother younger to me is in Germany and works in SAP.

I am a software professional like many others here. Came to Germany in september 2001 on Green Card. Since long, I have been looking to start a business. But in a new country it takes time to understand the people, culture, business opportunities and on top of it, to find out your place here. Honestly speaking, I have struggled quite a lot like many other expats here, with the visa issues, working environment, with dumb employers and with my ambitions. Many of us make compromises with the situations, some of us leave the country for better opportunities in other English speaking countries, but I decided to stay here and fight to make my own way. I left my job and studied further, completed Masters in computers in 2007. This gave me an edge to think further. I always had ideas but now I finalized and decided to move further. All these years were not easy, because I had to take care of my family too.

Like someone mentioned that I have no financial experience and that is true. I don't want to portray wrong picture of myself. I am a simple software professional, like you or anyone else, but with entrepreneurial instincts. I have other people with me who will take care of areas where I have less experience.

My intentions are very clear and straight. I want to follow my dreams and want to work on ideas that I have. The ideas are not chit fund :-) or something illegal. They are purely innovative and technology oriented, web-based ideas, like Sabir Bhatia got an idea for Hotmail, or Larry page and Sergey brin came up with google, or ebay, or twitter, or facebook, or.....

I have seen lot of struggles myself and I know what hard-earned money is and how difficult it is to make savings in Germany. I myself do not have much saved earnings. This is why my intentions are to give high returns to people who put their hard-earned money and their faith on me. On the other hand I also want it to be clear that it is a start-up, and no money making scheme with promises. It is simple to understand, I have idea, strategy and people. I need help with money and I will try to return you good. That's it, no security, no promises and no scams. So one should take the risk, only if he has the capacity and interest to do so. My offer for returning 10 times or 20 times is not to lure investors into something false, but because I understand what it is to risk your hard-earned money.

I am not depending on the money from people. If I don't get sufficient funds then I will also look to approach banks. I will keep on going.

Very important, I don't intend to take out salary out from the money I get from people. It will be used on projects. I will support my living myself.

Raj, you said that you want to save your Indian fellows from some fraud, so I am also one of them, save me :-)

My message to all is that try to look at it positively. I am one of you and want to do something good here. Maybe everything sounds unrealistic, but it is achievable. What does it takes for us to be positive, just a switch of our perspective. World is not flat and it is also not 3 dimensional. There are multiple dimensions.

Please contact me if anyone of you have any doubts. Your feedback and comments are welcome. But its my request, please don't try to put my name down by judging me. I need your help. I am also part of this community. None of you need to invest, it is not important at all, only your support will be enough to boost my confidence. I am starting a journey and I would be happy to get your support. My projects are for making end user's life easier. You all will be part of it one day. So please support me.

Nishant

@subir79
Raj2009 noticed it right. I am with my son traveling in the train that goes up to Jung Frau mountain in Switzerland. That's why, I said that please don't judge so quickly. Your words and your comments does matter. And Subir, I am happy that I am not working for some employer, I am the employer.

@Raj2009
Thanks for your supporting comments, but raj2001 was also right. He pointed out one major Typo that nobody did till now. It was written 2001 and I changed it after his comment.

We are a big professional community here, and we help each other. I am surely going to help others with my experiences in Germany and with starting-up business.

@nishu09

All the best dude.........like i said.... u rock!!!! :-)

@Akshay
I´m sorry for my earlier remarks dude

all of us came to Germany for a better life and a better future for us and our families, after reading alot of threads about how some guys were asked to leave after almost 8 years of stay and contributions to german pension and taxation system??? do you think they deserve that??

in last 8 years ask them what they have missed? how many diwalis, holis, eids, christmas(es)? we lost our loved ones..we missed marriages of so many friends, we missed on alot of occasions, where our presence would have made a big difference to people who care about us, who love us, who pray everyday for our success.

all the time we think OUR HOME IS WHERE WE LIVE, NOT WHERE WE WERE BORN,.....and in the end a drunken alcholoic (Phenna), who doesnt work, doesnt pay taxes, calls you a SCHEIßE AUSSLÄNDER???


wake up dude!! we can change our passports, but we can never be Germans, but just a third grade auusländer.

So the bottom line is, we have to fight for our share here, and support guys like NISHANT, coze that is our destiny, we are qualified, we have ideas, than why to work for anyone???

@Raj2009

I´m sorry for my earlier remarks dude

I accept your apology, you are welcome to say anything to me, just spare my poor mom from your evil comments.

..and in the end a drunken alcholoic (Phenna), who doesnt work, doesnt pay taxes, calls you a SCHEIßE AUSSLÄNDER???

Just because some ignorant fools you cant jugde the entire german society. I have been told many a time such things but the germans in general are polite and friendly people. I hope you make an attempt to know them better before making some assumptions about them.

Ha ha im poking my nose again...Raj2009

Noone ask u to come here u choose self and so dont cry germans are this or that.U dont like u can pack ur luggage
and go back ...but u know what u never do this because for u Indians money is bigger than anything.majourity of
u people earn 50-80k but till act like greedy people and looking the ways to cheat the system to save taxes.

>>wake up dude!! we can change our passports, but we can never be Germans, but just a third grade auusländer>>
my answer -->but u can be better than germans and they will follow u:-)

damn this guy is full of shit here with so much negativity...I wonder how people can live like this?
If the country is Saudi Arab and u r not muslim they i can be agree with this but then i wont opt to live in that country.
Come on man life is so schön enjoy ur life with these beautiful germans (specially girls ) give respect get respect.be positive and get positive.

REMEMBER ONE THING U PEOPLE SEE WHITES AS HIGHER VALUED PEOPLE AND THATS MAKES UR VALUE AUTOMATICALLY LOW AND THEN THE NEGATIVITY COMES IN UR MIND AUTOMATICALLY.

dont belive me ? go to ur roots ....In India u wont respect people who speeks their mother tongue rather than respect people who speeks english.
I can give thousand examples here that u need to first correct before u blame others ...but i dont have time.

//So the bottom line is, we have to fight for our share here//

@raj2009,

are you here for some freedom fighting? or to creat troubles for rest of us. Try to make friends not enemies. We dont want to see another Australia kind of bashing here.

Before shouting on Germans their life and culture watch this video that's Mera Bharat Mahaan

http://edition.cnn.com/video/#/video/world/2009/08/25/sidner.india.police.brutality.cnn

And read this too..

http://www.charityfocus.org/blog/view.php?id=2122

Something is possible if one has willingness to do so. And if possible, support him.

One wonders what the hell is gone wrong with some of the Indians in this forum.

It is quite disappointing to see the total lack of respect and charity they show towards their fellow men. Considering the foul language used, one can even feel the pure and unmitigated hatred that emanates from these gentlemen. They mercilessly go after each other over absolutely trivial issues.

Is this not just a variation on the selfsame selfishness that is generally characteristic of western society. Could it be that these gentlemen have imbibed the bad influences of western life during their stay?

@caligula
I don't get your english, but you seem to make a point. ;-)
No, we Indians are all OK. All loving and familiy oriented and stuff.
A small problem is; we have been bourn (correct the PP please) with a manufacturing defect and then fabricated to "survive" in this harsh world!
At times we tend to hate ourselves; but to no avail.
Even though we practice such things as freedom of speech and pursuit of happiness at our own convenience, we are all controlled by our
own limitations set forth by caste-class and social status that our parents had when they brought us up with the values "they" though were correct.
'nough said!

@to all who contribute their thought to this thread:

I wonder if you people have too much time to write such non sense discussion. I check every day this forum but read thethread only if it has useful information.
But general speaking and my experience, whenever indians jumps into discussion in any where, things become nasty. I am afraid if you people will continue like this, the interest of this forum will be decreased by the reader.
I can only recommend you, please use other Forum where a lot of indians are using slang words, fighting etc...
This Forum helps us a lot, dont forget that. But when you spend your time discussing this thing will loose its value.This is only my view, Moderator can have different view.
In short: Please try to accept that you can make things better in this world without showing your nationality.
When I came to Germany in 2001, the first day of my class, the course cordinator asked us for introduction.
Every body did introduction in cluding me very normal except 4 indians.
They start to describe india and like always in NASA there are 60 % indian and blaallala.
At the end co-ordinator had to interference and stopped them.
But please leave this attitude and go forward. This will not help to win. There is no war.
I hope you understand. It cast me a lot of time to write this-, Please dont continue discussion after my reply or use sland languge against me.

@sallu,

here you are! waiting for someone to criticise indians. Please mind your comments and understand that we are practicing freedom of speech and not kil*ing and planting b*mbs as seen in our neighbouring states. Yes, I agree some of the members used slang language.

So, understnad that you have lot of homework before you critcize others.

Good Luck!!

@sbir
No comment, that's exactly I means.
Now you will start fighting on neighbouring countries, thinking that I am from neighbouring countries. Just open your mind, and learn freedom of speech.

A simple bloody question asked, how a chap can get his millions here for investments, but some bunch of losers loose the track and start playing foul as they 've got nothing constructive to do.

If some cant control on their emotions (or complexes) why does everybody need to take a dive in and fry out the whole thing up?

Cut the crap guys and use the forum in an articulate and respectful manner.

VAH

hi friends,

I watched this discussion all the time and at some points I thought of deleting the whole topic, but I did not because it started with a real question and among many, many replies there are some useful, regarding the question.

I do not comment the rest, but I ask you to stop it here at this point.

It is enough, ok?

All the best to all of you :-)

Detlef

Have not we heard enough of Mr Madoff and his ponzi scheme.

I think the original question was left unanswered.

I think selling a NRI your prpoerty and getting paid in an offshore account is the best option.

Other wise you have to pay two time taxes.

Hi raj2001,

Were you able to transfer the money from India to Germany?? if so please share your experiences. Now i am in the same boat as you were.

Thanks
Deepak

Are you sure you wanna do that? that money will be eaten by german's taxes and bureoucracy.

Hi mrkermit,

I am fine in paying the taxes to German govt, instead of paying money to land grabbers in India.

Deepak

Hi,

You dont have to pay taxes in both the country.
India and Germany runs double tax treaty which
ensure that you pay tax only in one of the country.

So if you transfer tax paid money from India to Germany, they cannot tax it further, but important is that
you declare it as a income and pay tax in india.

This is not a legal advise, please take a suggestion from tax advisor.

lol interesting answer. yes you are right it might be better to give the taxes to the germans instead of giving them to corrupt officials in some of our native countries. what I was pointing out tho was that the taxes might be far higher in germany (not 100%) but maybe you can check on that.