Can Foreign Nationals (albeit Indian Resident) invest in Mutual Funds?

POSTED BY Shyam Murarka ON December 25, 2012 8:01 pm COMMENTS (4)

Hi,

I am a Nepali citizen but also an Indian Resident (not an Indian Citizen). I have been working in India for the past 18 months. Prior to this I have studied in India for 18 years.

Am I allowed to invest in Mutual Funds in India? Is there a special procedure I need to follow to do so?

Thanks.

Regards,

Shyam

4 replies on this article “Can Foreign Nationals (albeit Indian Resident) invest in Mutual Funds?”

  1. My understanding is the rules for foreign nationals to invest in MFs are still on the anvil.
    I think you need to check with an AMC about this for clarity. If they want a PAN card with Indian address, I think you could apply for that.

  2. Shyam Murarka says:

    Hi,

    Does anyone know the answer to my question?

    Thanks.

  3. Shyam Murarka says:

    Ashal,

    Thanks for your response.

    I do have a PAN card. By an “Indian PAN Card”, do you
    # simply mean a PAN card irrespective of whether the permanent address registered on the card is that of Nepal?
    or
    # the permanent address registered on the PAN card *has* to be an Indian address?

    Also, in the KYC form I would have to declare my Nationality as “Other” and Status as “Resident Individual”, right?

    Regards,
    Shyam

  4. Dear Shyam, if you do have Indian PAN Card as well as other KYC docs, you can invest in Indian MFs.

    thanks

    Ashal

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