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Description <p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><font size="\" 3\""="">Mutual funds are one of the sought-after options for investments for most NRIs, and yes, they can invest in it, but to know about the specifics, one must refer to the scheme information document (SID) of the mutual fund scheme he/she is interested in. In this article, we have covered the process of investing in mutual funds for NRI and other important details.</font></span></p><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><font size="\" 3\""=""></font></span></p><p class="\" msonormal\""=""><font size="3" color="#0033cc"><b><a href="https://tinyurl.com/24ljc23n" title="" target="_blank">Link to Invest in Mutual Funds https://tinyurl.com/24ljc23n</a></b></font></p><p class="\" msonormal\""=""><a href="https://tinyurl.com/24ljc23n" title="" target="_blank"><font color="#0033cc"><b><span style="font-size: medium;">Mutual ഫണ്ടിൽ ഇൻവെസ്റ്റ് ചെയ്യാനുള്ള ലിങ്ക് </span><br></b></font></a></p><p class="\" msonormal\""=""><font size="3" color="#0033cc"><a href="javascript:nicTemp();"><b>https://tinyurl.com/24ljc23n</b></a></font><br></p><p class="\" msonormal\""=""><b><font size="4">Number to contact in case of need for support   </font></b></p><p class="\" msonormal\""=""><b><font size="4">80752 61549(WHATSAPP ONLY)</font></b></p><p class="\" msonormal\""=""><font size="4" style=""><b>സപ്പോർട്ട് ആവശ്യം ഉണ്ടെങ്കിൽ ബന്ധപ്പെടേണ്ട നമ്പർ 80752 61549 (WHATSAPP ONLY)</b></font></p><p class="\" msonormal\""=""><b style="\" font-size:"="" large;="" color:="" rgb(68,="" 71,="" 91);="" font-family:="" "times="" new="" roman",="" "serif";\"="">Can NRIs Invest in Mutual Funds in India?</b></p><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">The very first question is, are NRIs even allowed to invest in the Indian mutual fund industry? Of course, an NRI can invest in mutual funds in India as long as he/she adheres to the Foreign Exchange Management Act (FEMA).</span><o:p></o:p></p><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""></span></p><h2 style="\" margin:"="" 5.35pt="" 0cm="" 7.15pt;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-family:"system-ui","serif";"="" color:#44475b;mso-bidi-font-weight:normal\"=""><font size="\" 3\""=""><b>How Can NRIs Invest in Mutual Funds - The Simple Procedure</b></font><o:p></o:p></span></h2><div><h3 style="\" margin:"="" 5.35pt="" 0cm="" 7.15pt;="" line-height:="" 12.5pt;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-family:"system-ui","serif";"="" color:#44475b;mso-bidi-font-weight:normal\"=""><font size="\" 3\""=""><b>Step 1: Set Up an Account</b></font><o:p></o:p></span></h3></div><div><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">Mutual fund Asset Management Companies in India cannot accept investments in foreign currency.</span><o:p></o:p></p> <p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">Indian laws, specifically the Foreign Exchange Management Act (Fema), do not allow you to park your money in a regular resident savings account in India once you have achieved the NRI status. This law makes it compulsory for an NRI to have the knowledge and know the NRE and NRO account differences and know which suits you more.</span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" text-indent:"="" -18pt;\"=""><span style="\" font-variant-numeric:"="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" line-height:="" normal;\"="">*</span><span style="\" font-family:"="" "times="" new="" roman";="" font-variant-numeric:="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" font-size:="" 7pt;="" line-height:="" normal;\"="">  </span></span><span style="\" text-indent:"="" -18pt;\"="">NRE: NRE account is well suited for those who want to send the money they have earned overseas to india.</span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" text-indent:"="" -18pt;\"="">*NRO: money kept in NRO accounts also has to be in Indian rupee and money cannot be repatriated to a foreign currency easily.</span></p><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">Once the account is activated, an NRI can invest by any of the below methods.</span></p><p class="\" msonormal\""=""><span style="\" background-image:"="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><font face="\" system-ui,"="" serif\"="" 4\""="" #00cc99\""="" color="#009999" size="5"><a href="https://www.youtube.com/@malayalamstockmarkettrading/videos" title="" target="_blank" style="">Visit our YouTube channel for more videos. Click here for that.</a></font><br></span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><b><span style="\" text-indent:"="" -18pt;="" font-variant-numeric:="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" line-height:="" normal;\"="">A.</span><span style="\" text-indent:"="" -18pt;="" font-variant-numeric:="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" font-size:="" 7pt;="" line-height:="" font-family:="" "times="" new="" roman";\"="">    </span><span style="\" text-indent:"="" -18pt;\"="">Self or Direct</span></b></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" text-indent:"="" -18pt;\"="">*An NRI can carry out transactions, debiting or crediting through normal banking channels.</span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" text-indent:"="" -18pt;\"="">*Their application with the required KYC details must indicate that the investment is on a repatriable or non-repatriable basis.</span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" text-indent:"="" -18pt;="" font-family:="" symbol;\"=""><span style="\" font-variant-numeric:"="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" font-size:="" 7pt;="" line-height:="" font-family:="" "times="" new="" roman";\"="">* </span></span><span style="\" text-indent:"="" -18pt;\"="">KYC documents consist of a recent photogragh, certified copies of PAN card , a passport copy, residence proof of outside india, and a bank statement . The bank may require an in-person verification which an NRI can comply with, by visiting the Indian embassy in their resident country.</span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" text-indent:"="" -18pt;\"=""><b>B.Through the power of Attorney (POA)</b></span></p><p class="\" msonormal\""="" style="\" text-indent:"="" 0px;\"=""><span style="\" font-size:"="" 11pt;="" line-height:="" 115%;="" font-family:="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">Another common method is to have someone else invest on behalf of an NRI.</span><span style="\" font-size:"="" 13.5pt;="" line-height:="" 115%;="" font-family:="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""> </span><span style="\" font-size:"="" 11pt;="" line-height:="" 115%;="" font-family:="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">In India, </span><span style="\" font-size:"="" 11pt;="" line-height:="" 115%;="" font-family:="" "system-ui",="" "serif";="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">Mutual fund <span style="\" color:#44475b\""="">companies allow holders to invest on their behalf and take other decisions pertaining to their investments. However, the signatures of both the NRI investor and PoA should be present on the KYC documents to make such types of investment.</span></span><span style="\" text-indent:"="" -18pt;\"=""><br></span></p><p class="\" msolistparagraph\""="" style="\" text-indent:-18.0pt;mso-list:l0"="" level1="" lfo1\"=""><!--[if !supportLists]-->A.<span style="\" font-variant-numeric:"="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" font-size:="" 7pt;="" line-height:="" font-family:="" "times="" new="" roman";\"="">      </span></p></div>

Description <h3 style="\" margin:"="" 5.35pt="" 0cm="" 7.15pt;="" line-height:="" 12.5pt;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-family:"system-ui","serif";"="" color:#44475b;mso-bidi-font-weight:normal\"=""><font size="\" 4\""=""><b>Step 2: Get Your KYC done</b></font><o:p></o:p></span></h3><div><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">An NRI must complete the KYC process before starting investment in Indian mutual funds.</span><o:p></o:p></p> <p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">For that, they need to submit a copy of your passport (only relevant pages with name), date of birth, photo and address. The current residential proof, too, is a must, whether temporary or permanent resident in that country. Some fund houses may also insist on an in-person verification.</span><o:p></o:p></p> <p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">Many mutual fund houses in India don’t allow NRIs from the USA and Canada to invest in their schemes because of the cumbersome compliance requirements under the Foreign Account Tax Compliance Act (FATCA). On the other hand, there are some fund houses that have certain conditions on which they allow investors based in the USA and Canada to put money in their schemes.</span><o:p></o:p></p> <p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">So if you are an NRI from the USA or Canada, then look into the additional document requirement.</span><o:p></o:p></p> <p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">For Example, ICICI Prudential AMC, Birla Sun Life Mutual Fund and SBI Mutual Fund allow investments only through an offline transaction with an additional declaration signed by the client</span>.<o:p></o:p></p><h3 style="\" margin:"="" 5.35pt="" 0cm="" 7.15pt;="" line-height:="" 12.5pt;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-family:"system-ui","serif";"="" color:#44475b;mso-bidi-font-weight:normal\"=""><font size="\" 3\""=""><b>Step 3: How to Redeem?</b></font><o:p></o:p></span></h3><div><p style="\" margin-bottom:"="" 9.25pt;="" text-align:="" justify;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-size:11.0pt;font-family:"system-ui","serif";"="" color:#44475b\"="">For NRIs, mutual fund investments can be redeemed by following the redemption procedure mentioned by the fund houses. Different fund houses in India follow different procedures for redemption by NRIs.<o:p></o:p></span></p> <p style="\" margin-bottom:"="" 9.25pt;="" text-align:="" justify;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" box-sizing:="" inherit;="" user-select:="" text;\"=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);\"=""><span style="\" font-size:"="" 11pt;\"="">The AMC will credit the corpus (investment + gains) you get after fund redemption to your account after deducting taxes and shall be credited to the respective NRE or NRO bank account of the investor. They can also write a cheque for the same.</span><o:p></o:p></span></p><p style="\" margin-bottom:"="" 9.25pt;="" text-align:="" justify;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" box-sizing:="" inherit;="" user-select:="" text;\"=""><span style="\" font-family:"="" "system-ui",="" "serif";\"=""><span style="\" font-size:"="" 11pt;\"=""><font #009999\""="" size="4" color="#009999"><a href="https://upstox.com/open-account/?f=BZGU" title="" target="_blank">click here for free demat account </a></font></span></span></p><h2 style="\" margin:"="" 5.35pt="" 0cm="" 7.15pt;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-family:"system-ui","serif";"="" color:#44475b;mso-bidi-font-weight:normal\"=""><font size="\" 3\""=""><b>What About Taxation for NRIs?</b></font><o:p></o:p></span></h2></div><div><p style="\" margin-bottom:"="" 9.25pt;="" text-align:="" justify;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-size:11.0pt;font-family:"system-ui","serif";"="" color:#44475b\"="">Many NRI investors often fear that they will have to pay double tax when they invest in India, especially in mutual fund schemes. But certainly, that’s not the case if India has signed the Double Taxation Avoidance Treaty (DTAA) with the respective country.<o:p></o:p></span></p> <p style="\" margin-bottom:"="" 9.25pt;="" text-align:="" justify;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" box-sizing:="" inherit;="" user-select:="" text;\"=""><span style="\" font-size:11.0pt;font-family:"system-ui","serif";"="" color:#44475b\"="">For Example,<o:p></o:p></span></p> <p style="\" margin-bottom:"="" 9.25pt;="" text-align:="" justify;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" box-sizing:="" inherit;="" user-select:="" text;\"=""><span style="\" font-size:11.0pt;font-family:"system-ui","serif";"="" color:#44475b\"="">India has signed a DTAA treaty with the US. Hence, an NRI can claim </span><span style="\" font-size:11.0pt;font-family:"system-ui","serif";"="" mso-fareast-font-family:"times="" new="" roman";mso-fareast-theme-font:major-fareast;="" color:#44475b\"="">tax</span><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);\"=""><span style="\" font-size:"="" 11pt;\"=""> relief in the US if he/she has already paid taxes in India. The gains from equity-oriented mutual funds are taxable based on the holding period.</span><o:p></o:p></span></p><h2 style="\" margin:"="" 5.35pt="" 0cm="" 7.15pt;="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"=""><span style="\" font-family:"system-ui","serif";"="" color:#44475b;mso-bidi-font-weight:normal\"=""><font size="\" 3\""=""><b>The Bottom Line</b></font><o:p></o:p></span></h2></div><div><p class="\" msonormal\""=""><span style="\" font-family:"="" "system-ui",="" "serif";="" color:="" rgb(68,="" 71,="" 91);="" background-image:="" initial;="" background-position:="" background-size:="" background-repeat:="" background-attachment:="" background-origin:="" background-clip:="" initial;\"="">NRIs can easily choose to invest in the Indian mutual fund industry, although the process may have some initial hassles. However, in the longer term, the return on investment would be worth it, and there is certainly no reason for you to be left out of investing in one of the fastest-growing economies in the world.</span></p></div><p class="\" msonormal\""=""><br></p></div><p class="\" msolistparagraph\""="" style="\" text-indent:-18.0pt;mso-list:l0"="" level1="" lfo1\"=""><span style="\" text-indent:"="" -18pt;="" font-variant-numeric:="" normal;="" font-variant-east-asian:="" font-variant-alternates:="" font-kerning:="" auto;="" font-optical-sizing:="" font-feature-settings:="" font-variation-settings:="" font-variant-position:="" font-stretch:="" font-size:="" 7pt;="" line-height:="" font-family:="" "times="" new="" roman";\"="">*                                                           </span><br></p>

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