Yes, an NRI can invest in Mutual Funds without any prior permission from RBI. The offer document should clearly state the NRIs could invest in the scheme. Please contact us and we will be glad to assist you.
Read moreYes, you can remit funds for opening the account in any convertible currency. The NRO / NRE accounts are maintained in rupees and the funds remitted will thus be converted into India rupees at the spot exchange rate. Deposits can…
Read moreNon-Resident External [NRE] Rupee savings account Your funds in NRE savings accounts are held in convertible rupees – principle and interest are fully repatriable. Interest income is fully exempt from tax in India. The savings account can be opened jointly…
Read moreThe Income Tax Act of 1961 defines a resident as follows.. A person is a resident who has stayed equal to more than 182 days of current financial year in India OR if he stayed in India for 60 days…
Read moreFollowing categories of foreign nationals are eligible for registration as Overseas Citizen of India (OCI) Cardholder:- Who was a citizen of India at the time of, or at any time after the commencement of the Constitution i.e. 26.01.1950; or Who…
Read moreYou are a Person of Indian origin [PIO] if you are a citizen of a foreign country (other than a citizen of Bangladesh or Pakistan) and: You have at any time held an Indian passport OR – You or either of…
Read moreIf you have gone out of India for any of the following purposes, you qualify to open a Non-Resident Account Taking up employment Business or vacation Any other purpose, in such circumstances as would indicate your intention to stay outside…
Read moreGenerally a NRI is a person resident outside India who is a Citizen of India or is a Person of Indian origin, Overseas Citizen of India. However there are different definitions of NRI under FEMA and Income Tax Act. Definition of…
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