Foreign investors can invest in mfs

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Internet Not Available. Wait for it… Log in to our website to save your bookmarks. Yes, Continue. Wait for it… Oops! To complete the KYC process, you must submit a copy of your passport — relevant pages with name, date of birth, photo, and address.

Providing the current residential proof is a must, whether temporary or permanent. Some fund houses may insist on in-person verification. If you have made the payment via a cheque or a demand draft, then you must attach a foreign inward remittance certificate FIRC.

In case that is not possible, then a letter from the bank would also be accepted. This confirms the source of funds. If you have opted for non-repatriable investment, then they can credit the proceeds only to an NRO account. NRI investors often worry that they will have to pay double tax when they invest in India. The gains from equity mutual funds are taxable based on the holding period. In the case of debt-oriented funds, short-term capital gains are taxable as per your income tax bracket.

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Fund Recos. Category Review. Top Tax Saver Funds. Low Cost High Returns. These UCRs will be issued by overseas issuers that will be appointed by the concerned Indian mutual funds. The new rules have caps on the total QFI investment that will be permitted in each Indian mutual fund—USD 10 billion for equity schemes, and USD 3 billion for infrastructure debt schemes. In addition, the units or UCRs held by QFIs will not be tradeable or transferable, but they can be redeemed and the proceeds repatriated.

The government expects the new QFI rules will provide foreign investors with a further opportunity to access India's equity and infrastructure debt markets.