NRI (Non Resident Indian) can invest in Indian mutual fund schemes in accordance with the provisions applicable in the Foreign Exchange Management Act.
NRI investor should complete Know Your Customer (KYC) formalities by filling up a standard mutual fund application form. FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) declarations should also be made. According to FATCA guidelines, all financial institutions must share the details of financial transactions involving a US person with the US Government. CRS is a global reporting system to combat tax evasion.
NRIs can invest on repatriable or non-repatriable basis using funds from the NRE or NRO accounts respectively. Your investment carries the right of repatriation of the amount invested and amount earned, only until you remain an NRI.
Investments can be redeemed by following the redemption procedure mentioned by the fund. Redemption proceeds shall be credited to the respective NRE/NRO bank account of the investor. On redemption of units, tax will be deducted at source on the capital gains made on the investment.
Mutual fund investments are subject to market risks. Please read the scheme information and other related documents before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund, or designing a portfolio that suits your needs.
To know more about investing in Indian Mutual Funds mail to firstname.lastname@example.org