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Relocating to Goa
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Goa, which is a popular tourist destination, is now fast becoming a favourite location to relocate oneself, not only from rest of India but all over the world. There are a number of factors that contribute to making Goa a favourite destination to relocate, a few of which are indicated below:
How do you go about relocating to Goa?
The first step towards relocating to Goa is to plan a holiday to Goa. What anyone may say, it is only when one experiences the place oneself, one can get a flavour of the place and decide whether that is the place one would like to settle down. Information on how get there are available on www.guidetogoa.com.
If you like the place, the next step would be identify your home viz. the locale in Goa that suits his/her preference such a bustling area or quiet location, a beach side property or river side location, etc. The preferred option would be to buy your home, as there is good scope for real estate appreciation as well as property in Goa is relatively cheap. However, if you have not made your mind for sure it would be better to take a place on rent till you make up your mind as you may not find a buyer immediately in case you change your mind or some reason compels you to leave Goa. The best place to find property to buy or rent in Goa would be do read through the local newspaper or contact some local real estate agent or broker who would take you around the place. A piece of advice, try as many real estate agents before you decide and take your time, this would help you get the best deal. Another option would be some research on the Internet as there is plenty of information available on Goa. The current government regulations permit non-residents, be persons of Indian origin or otherwise, citizens or non-citizens to buy property in India, subject to complying with certain simple regulations. It would be advisable to confirm with latest RBI regulations at the time of purchase.
The next step would be set/transfer your bank accounts and it would be advisable to opt for net banking if one is net savvy as it would be more convenient. Goa has one of the best banking infrastructure and most of the banks operating in India; both from the private as well as public sector have their presence in Goa.
The tax laws would similar as they apply to rest of India. The most common one would be the Income Tax Act, 1961, which taxes the income of an individual who income is above the taxable limit (Currently, Indian Rupees Hundred Thousand). However, there are a number of options provided in the tax laws to reduce the tax laws in case of investments in certain avenues.
To conclude, it is the quality of life that Goa offers which gives it an edge over other places to relocate within India or rest of the world.
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