How Can NRI Invest in Mutual Funds?
An NRI can invest in mutual funds. However, it is not as simple as it is for a resident Indian. There are only a few ways through which an NRI can invest in mutual funds. Below is the process of how an NRI can invest in mutual funds:
Step 1 - NRI Bank Accounts
An NRI needs to have an NRI bank account to invest in mutual funds in India. An NRI can open an NRE/NRO account with any Indian bank to do banking transactions in India. An NRE account is advisable for an NRI since it is convenient to transfer their foreign income back and forth from India.
Step 2 - Get Your KYC Done
- Overseas Address Proof
- Indian Address Proof
- A Copy of The Passport
- Recent Photograph
- A Copy of The Pancard
- Bank Statement
Step 3 - Investment Procedure
Why Should An NRI Invest In Mutual Funds?
Professionally Managed Funds: Mutual Funds are professionally managed, which frees the NRIs from the tedious task of stock research and analysis. Moreover, the transparency of a mutual fund scheme ensures that the NRI knows all about his investment.
Multiple Schemes: There are various types of mutual funds – Equity, Debt, Hybrid, etc. Each type of mutual fund has its advantages and disadvantages. An NRI can choose the kind of mutual fund to invest in based on his objectives.
Diversification Of Risk: Investing in mutual funds enables the NRIs to diversify the investment basket/portfolio. An NRI could have invested in various financial instruments in India and investing in mutual funds would diversify the NRIs overall investment portfolio.
Mutual Fund Taxation For NRIs:
How Can We Help You?
NRI investments are a complicated matter as an NRI needs to adhere to various rules of the Foreign Exchange Management Act (FEMA), Income Tax, Reserve Bank Of India (RBI), etc. An NRI must comply with all the rules of various institutions to avoid unnecessary troubles.
Through our years of experience, we at Ashutosh Financial Services have created many custom processes. We have designed them specifically to simplify the entire process of NRI investments. At Ashutosh Financial Services, we have a team of experienced employees who are well-versed in an NRI investment’s intricacies.
- Preliminary Discussion: Thorough Discussion about the NRI’s objectives, needs, and requirements. We also discuss the taxation part of the investment.
- Risk Profiling: Based on our preliminary discussion, we determine the maximum level of risk an NRI should take to attain his objectives & goals.
- Research & Analysis: We do in-depth research and analysis of the schemes and plans where the investment needs to be made to attain the NRIs objectives. We boast of an in-house research & analysis department
- Investment Process: After all the necessary analysis, we approach the NRI again with a detailed plan/outline of how the investment needs to be done and how the investment objectives will be attained.
- Dedicated Relationship Manager: Every investor has a dedicated relationship manager at Ashutosh Financial Services. In the same way, an NRI investor would also have a dedicated relationship manager, who shall be the one-point contact for the NRIs future needs. The relationship manager will be available to assist the NRI with all their requirements.
Ashutosh Financial Services is a one-stop financial services provider. At Ashutosh Financial Services, we believe in providing quality and unbiased financial services to the NRIs.