A Non-Resident Indian (NRI) is a citizen of India who holds an Indian passport and has temporarily moved to another country for six months or more for employment, residence, education or any other purpose.
A Person of Indian Origin (PIO) is a person of Indian origin or ancestry but who is not a citizen of India and is the citizen of another country. A PIO might have been a citizen of India and subsequently taken the citizenship of another country, or have ancestors born in India or other states.
A Non Resident Indian can have two sources of income; one from overseas which is fully repatriable and one from India which is not fully repatriable, that is, the funds can be taken transferred overseas post tax deductions as applicable. For fully repatriable funds, funds earned outside India, NRE accounts are opened or NRE status is attached to the investments made; on the other hand, for non-repatriable funds, funds of Indian origin, NRO accounts are opened or NRO status is attached to the investments.
1. Are FATCA Details Mandatory?
For all NRI Mutual Fund Investments, FATCA Details are mandatory which include TAX Identification Number Overseas.
2. Is Aadhaar Card Mandatory for Mutual Fund Investments?
As per Government of India, Aadhaar Card is mandatory for all Mutual Fund investments after 31st December 2017.
3. What are the Documents required for KYC of NRI Investors:-
4. Can US/ Canada NRIs invest in Mutual Funds?
Yes, there are few AMCs that accept investments from US/ Canada NRIs. However, not all AMCs are currently accepting investments from such investors.
List of AMCs accepting US/ Canada NRI Investments :
NRI Investors – Mutual Fund Taxation
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