NRI investors based on Canada and USA are still asking that if they can invest in Indian Mutual Fund. Nowadays some AMCs have started to accept money from NRI investors.
Non-Residents Indians can invest in mutual fund schemes in India. If you want to have a mutual fund investment in India you should have an NRE or FCNR account with a bank in India. You can have a diversified portfolio in your home country which can be a mixture of equity and debt securities.
India is one of the fastest growing economies in the world so it attracts so many investors from foreign to invest in here are some benefits NRIs can enjoy by investing in Indian Mutual Fund.
- You can invest in online, so it is easier to track and manage your account, you also buy, switch or redeem your mutual fund investment whenever you want. You also can get the regular account statement via mail.
- Even all the possible depreciation the investor can earn a good return as Indian 100 rupee = 1 pound so if the investor invests 1000 pounds in a mutual fund he will get a good return.
Here is the list of Mutual Fund houses who offer mutual fund investments to NRIs
- SBI Mutual Fund
- Birla Sun Life Mutual Fund
- UTI Mutual Fund
- ICICI Prudential Mutual Fund
- DHFL Pramerica Mutual Fund
- PPFAS Mutual Fund
- L&T Mutual Fund
- Sundaram Mutual Fund.
- Documents Proof of mutual fund:
KYC DOCUMENTS:
- Pan Card
- Adhaar Card
- Voter’s ID
- Passport Size Photo
- Download the KYC form available on the official website of HDFC mutual funds.
- The investors will be issued an acknowledgment receipt which he/she needs to submit while applying for subscribing for a mutual fund scheme.
Eligibility criteria of MUTUAL FUND
- Adult citizens residing in India.
- Minor through legal guardians/parents.
- Limited liability partnership.
- Religious and charitable trusts.
- Banking and financial institutions
- Mutual Funds or Alternative Investment Funds which have registrations under the Securities and Exchange Board of India
- The Karta of Hindu Undivided Family (HUF)
- Persons of Indian origin residing abroad (PIOs) or Non-Resident Indians can apply for subscription either on repatriation basis or on non-repatriation basis (permitted under Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000)
- Foreign Institutional Investors (FIIs) who have registration under the Securities and Exchange Board of India on repatriation basis (permitted under Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000)
- Mutual Funds or Alternative Investment Funds which have registrations under the Securities and Exchange Board of India
- Other schemes of Mutual Funds subject to the conditions and limits prescribed by SEBI Regulations
