NRIDesk

Yes. Non-resident Indians can invest in Indian mutual funds on a repatriable basis through an NRE account or on a non-repatriable basis through an NRO account. You need a PAN, completed KYC with FATCA and CRS declarations, and an Indian bank account of the right type. Investment must be in Indian rupees — the AMC will not accept foreign currency directly.

An NRE account holds income earned abroad, is fully and freely repatriable, and the interest is exempt from Indian income tax. An NRO account holds income earned in India — rent, dividends, pension, proceeds from Indian assets — is taxable in India, and repatriation is capped at USD 1 million per financial year with a CA certificate in Form 15CA/15CB. Most NRIs need both.

Yes, and it is the most common surprise. Because of FATCA reporting obligations, only a subset of Indian asset management companies accept investors resident in the USA and Canada, and several of those accept only offline, physical applications. We will tell you which AMCs are open to you before you commit to a plan, rather than after.

A Portfolio Investment Scheme account is an RBI-monitored route required for an NRI to buy and sell listed Indian shares on a repatriable basis. It is not required for mutual funds. If your plan is fund-based you can skip it entirely — a point that saves a lot of unnecessary paperwork.

Tax is deducted at source when an NRI redeems, which is the main difference from a resident investor. The applicable rate depends on the fund type and holding period under the rules in force at the time of redemption. Because rates and holding-period definitions have changed more than once in recent years, we confirm the current position before any redemption rather than quoting a number that may have moved. Relief for double taxation is usually available under the DTAA between India and your country of residence, and we will help you claim it.

GIFT City (Gujarat International Finance Tec-City) is India's international financial services centre. Funds domiciled there let an NRI invest in foreign currency without converting to rupees, with a distinct tax treatment. It suits some mandates — particularly larger, foreign-currency-denominated ones — and is unnecessary overhead for others. We will tell you honestly which category you fall into.

Yes, but the paperwork must follow you. When you move from resident to NRI, or return to India, your bank accounts, KYC status and tax treatment all need updating — folios do not have to be redeemed. Leaving a resident KYC in place after moving abroad is one of the most common and most expensive oversights we correct.

Yes. Almost every step — KYC, account opening, transactions, reviews and redemptions — is completed online or by video call. Our NRI clients in Kuwait, Dubai and elsewhere have run their Indian portfolios through this desk for years without visiting an office.