Sure. Non-Resident Indian (NRI) referred to Indian citizens who stay abroad for employment, business, and vacation, can invest in mutual funds.
There's no maximum limit laid down by the government for NRIs to invest in Indian mutual funds.
No. As an individual an NRI is not required to take RBI permission for investing in mutual funds. NRI can invest through repatriable or non repatriable basis.
No, you cannot purchase mutual fund units from the PINS account. You can only do so in the Non-Pins account.
There are several mutual fund schemes on offer. However, note that all schemes are registered in India and hence the jurisdiction is limited to India only. None of the funds are registered under the United States Securities Act 1993. Hence these funds are not for you if you're a resident of the United States.
POA or Power of Attorney is one of the ways NRIs can invest in mutual funds in India. Through the POA, an NRI nominate Artha Money to subscribe or redeem units of mutual fund schemes on your behalf. Besides you also grant us the authority to make additional purchases as well as redemption as and when you request.
Investing through Power of Attorney (POA) is one of the methods NRIs can adopt for investing in mutual funds and is completely safe.
No. You will have to courier the duly filled Power of Attorney (POA) form to us. We will have your account activated on receipt of the form and mail you a confirmation.
Non resident Indians residing in the United States are not permitted by US law to invest online in Indian mutual funds.
You can use your SB/NRE/NRO accounts. However, do remember to activate your Internet banking before investing online.
Yes. The redemption/dividend amount will be credited to the same account which has been mentioned by you in the registration form.
No. The pick-up facility is available only to resident Indians.
Dividend income from mutual fund units will be exempt from income tax with effect from July 1, 1999. Further, investors can get rebate from tax under section 88 of Income Tax Act, 1961 by investing in Equity Linked Saving Schemes of mutual funds. Further benefits are also available under section 54EA and 54EB with regard to relief from long term capital gains tax in certain specified schemes.
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