Tips and Information on the Retirement Options in India - A Great Guide for NRIs Looking to Retire

Is India a good place to retire?

A Report on the Retirement Options in India ISBN 978-93-80149-06-6 43 pages, US$9.99

India has emerged as a global hot spot for outsourcing. The country is being much talked about because of its low cost advantage.

The question is: Is India a good place to retire?

Foreigners prefer to retire overseas due to several personal factors including cost of living. Affordable care for elderly is a major driving factor for Americans and Europeans to consider India as a possible retirement destination. NRIs have always had this nostalgia of returning home and now the country’s status and level of services match their expectations to consider a return at retirement.

>> read more

Why India?
Myths like Indians have a poor standard of living or that western conveniences are not available, have been broken. The diversity of the country and its spiritual strengths are appealing to a foreigner. The lifestyle of the average Indian is still relatively simple- this impresses the westerner, since over consumption and materialistic trends are the norm in the developed countries. India has an increasing expat population. Americans and Europeans find that care for the elderly is affordable and good. Major cities have good medical, communication and housing facilities. The climate is comfortable in most parts of the country throughout the year.

Retirement is synonymous with old age, volunteering activities and spiritualism. India seems to be a good place for care of elderly, has enough avenues for volunteering activities and spirituality is a way of life with many.

Can foreigners retire in India?
India does not have any dual citizenship or retirement visa category. A foreigner cannot stay for more than 6 months in India. This is a constraint for people planning a permanent move.

People who are Indian by descent need to apply for Overseas Citizenship of India (OCI) category. The OCI citizens can live in India.

However, foreigners are in semi retirement mode-living six months and then returning to the home country.

Where in India?
India is a huge country. There are several factors to weigh prior to deciding on the best place to live:

Bangalore: An Expat Survival Guide UPDATED March 2007 120+ pages, US$16.99

Click - Pay - Download your ebook Now! Payment gateway via PayPal   BUY our just released... This Expat Food Guide is meant to help you manage everyday situations and includes details on traditional eating etiquette, tips on what to eat, what not to eat, how to manage eating at social gatherings and best places to eat authentic south Indian cuisine across different cities.

1. Global connectivity
2. Infrastructure- communication, living, transport, medical
3. Safety
4. Social and recreational life in the city
5. Presence of expats
6. Climate
7. Language
8. Availability of household help
9. Political and social stability of the region

Popular places with foreigners could be Puducherry (earlier known as Pondicherry), Goa, Kerala, Himalayan regions of Garhwal, Kumaon apart from the major cities and interesting smaller towns close to the metropolitan hubs. It is important to appreciate that the major cities in India, like Bangalore, New Delhi, Mumbai, Pune, Chennai, are undergoing rapid growth. Staying in these cities will have its share of rush and traffic but surely better services compared to smaller towns. A good retiring home is critical as staying alone in metropolises is not a great idea.

Are there good retirement homes in India?
Parents of NRIs have been living in homes for the elderly or retirement homes for a long time. It is a popular concept as day to day running of the house and chores are taken care by volunteers and support staff. Medical care as well as human interaction for the aged is assured. With the recent real estate boom and return of the NRIs, the retirement homes market is witnessing major investment by developers across cities like Mumbai, Bangalore, Pune, Chennai, and New Delhi.

The important aspect is to check on the services and facilities that are assured. Not all retirement homes may be happy or well serviced. Some may cost a fortune if they have the looks and feels of a resort- a popular trend as NRI money flows in for parental support.

What are the notes for caution?
Religious and regional intolerance have always been sensitive issues in India. Intolerance towards foreigners is not common but cannot be ruled out in the longer run. Any foreigner planning to retire would need to have a reasonable understanding about Indian culture. Knowledge of the local language will be a plus and make life easy. The hospitality industry in India is facing a quality manpower crunch.

Retirement homes for foreigners are an idea whose time has come. The hospitality retirement business is a new area of opportunity. It may follow the same growth path as medical tourism. India may soon become a retirement hub.

India is a good place to retire if you can get used to the ‘functioning anarchy’.