“The reason this did not apply to religious trusts is because there is no way of monitoring what goes into the donation box at a temple or other place of worship.”
“The main reason is diversification. If someone wants to diversify his portfolio among different currencies and regions, this is one way of doing it. Also, you can invest in highly sophisticated insurance or investment products, which are currently not available in India. If you are planning to migrate to a country, you can use this route to build a corpus. Also, people, whose children are likely to study abroad, may find it very useful. Over a period of time, you can build a sizeable fund in this way.”
“People who are extremely wealthy can approach global banks for help. Those in the middle income category can directly approach agents abroad or local financial planners.”
