The answer is YES. All Mutual Funds in India allow NRI’s to invest in their schemes. Investing in mutual funds in India will help them to create additional wealth creation while working abroad. Regular investments in mutual funds will create wealth for investors in the longer term. All investments in mutual funds are subject to market risks.

The first part of the process is Know Your Client(KYC) compliance. This can be done offline only. US/Canada Citizens have to fill in additional declarations. All investors in mutual funds will have to do the Foreign Account Tax Compliance(FATCA). The documents to support KYC are your self-attested copies of your Passport, PAN, Overseas Address Proof, and domestic address proof. This compliance part is a one-time process. Investments shall be done through online banking. (Net Banking/NEFT/RTGS)

An NRI will have to open a Non-Resident External(NRE)Account or Non-Resident Ordinary Account(NRO) or Foreign Currency Non-Resident Account(FCNR). The investment through NRE Account permit repatriation means to transfer your money to your home wherever you wish. Investments through NRO will not permit you to be repatriated.

Taxation: It is as per the Finance Bill of the respective year as applicable. It only comes at the time of redemption.