NRI Services

NRI Investment Process

   NRIs can invest in mutual funds in India on both repatriable and non-repatriable basis.
  No approval is required from RBI or any other body to invest in mutual funds in India.

  Procedure for Investment

   1. KYC Procedure
   Before invest in Mutual Funds, Investor will have to go through KYC (Know your customer) procedure once.
   Investor will need to submit following documents to the AMC (mutual fund house) or R&T agent:

        • Self attested copy of PAN
        • Self attested copy of Passport
        • Address proof (Both Indian and Overseas)
        • Passport size Photograph
        • KYC form duly signed

    Apart from submitting the above documents, you also need to get in person verification (IPV) done. During IPV, an authorized official confirms     your presence and verifies the copies of aforesaid documents with the originals.

    If Investor is not in India, Procedure of In person verification (IPV)

   Investor can approach authorized officials of overseas branches of scheduled commercial banks registered in India, Notary Public,Court    Magistrate, Judge, Indian Embassy/Consulate General in the country where you reside .Such Individuals are permitted to do IPV along with    verification of originals. Once IPV (and document verification) is completed you can send the KYC form along with the aforementioned    documents to the fund house or R&T agents. Investor’s KYC information will be updated in the system in a few weeks.

   2. Investment Procedure

        • KYC Acknowledgement
        • Mutual fund form
        • FATCA –CRS declaration form
        • Cheque from the NRO or NRE account

  Note that NRI cannot make investment in Foreign Currency.

   3. NRI Taxation

Investments in Mutual Fund Schemes Investments in listed shares
  • Open a Non Resident External bank account (I.N.R. Denominated)
  • Apply for a PAN card (For Income Tax Department)
  • Complete the one-time Know Your Client (KYC) formalities
  • Open a Non Resident External bank account
  • Apply for a PAN card
  • Open a Portfolio Investment Scheme Account
  • Open depository account
  • Complete trading account Broker related documentation
  • Common Documents Required:
        • Passport & Visa copy/ PIO card
        • Domestic residence address proof
        • International residence address proof
        • Passport size  Photographs

  • • Open a NRE / NRO Bank Account with any Banks having I.N.R. Denomination (AXIS Bank suggested for smooth process) and Time Frame at    Max. 1 week.
    • For dealing in Direct Stocks, PIS Account, RBI Approval is necessary for each and every Equity transaction. (To be opened with Bank)
    • We will provide you Swift Code Detail for transferring the fund from Your Bank.
    • You can transact through cheque or Cashier’s Cheque. For Cashier’s Cheque you just have to instruct to Axis Bank for issue the
       Payment Order. We will collect it from Bank.
    • We will send you the Application Forms through attachment. You have to make print out, Sign it and send to us.