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Mutual fund guide for NRIs investing in India


NRIs invest in Indian mutual funds

Non-Resident Indians (NRIs) or People if Indian Origin (PIO) can invest in Indian mutual funds on a repatriable or non-repatriable basis subject to regulations prescribed under the Foreign Exchange Management Act (FEMA)..

Non-Resident Indians (NRIs) or People if Indian Origin (PIO) can invest in Indian mutual funds on a repatriable or non-repatriable basis subject to regulations prescribed under the Foreign Exchange Management Act (FEMA).

To invest on a repatriable basis, you must have an NRE account or FCNR account with a bank in India. In this case, the investment money should be remitted through usual banking channels or from the NRE/FCNR account of the NRI investor.

You can also make investment on a non-repatriation basis with investment funds being provided from your NRO account or NRE/FCNR account.

Most fund houses in India don't allow NRIs from US and Canada because of the cumbersome compliance requirements under Foreign Account Tax Compliance Act (FATCA). However, there are some mutual fund houses who allow NRIs from these countries to invest in India.

For NRIs, who are not from USA and Canada, the process of investing in Indian mutual funds is as simple as it is for the Indian investors. They just need to comply by certain norms set by the country they are based in.

The KYC, Additional KYC and FATCA details are mandatory for all the mutual fund investors.

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