Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) can invest in Indian mutual funds, subject to FEMA rules, KYC and the acceptance policies of individual AMCs.

NRE or NRO account?

  • NRE account: funded from foreign earnings; investment proceeds are generally repatriable.
  • NRO account: holds income earned in India; repatriation is subject to limits and documentation.

KYC and FATCA

NRI KYC requires a passport, overseas address proof and, for OCIs, the OCI card. FATCA/CRS declarations about your tax residency are mandatory.

Residents of the US and Canada

Due to reporting requirements in these countries, only some AMCs accept investments from residents of the US and Canada, often with additional declarations. The list changes from time to time.

Taxation

For NRIs, tax is deducted at source (TDS) on capital gains at the time of redemption, as per prevailing income-tax law. Double Taxation Avoidance Agreements (DTAA) may apply. Please consult a tax professional in India and in your country of residence.

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Disclaimer: This article is for investor education only and is not investment, tax or legal advice. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Tax rules are subject to change.