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. Free Financial Calculators says:
    January 5, 2013 at 4:11 pm

    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.

    Reply
  2. Shyam Murarka says:
    January 5, 2013 at 3:54 pm

    Hi,

    Does anyone know the answer to my question?

    Thanks.

    Reply
  3. Shyam Murarka says:
    December 27, 2012 at 7:43 am

    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

    Reply
  4. Ashal Jauhari says:
    December 27, 2012 at 6:27 am

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

    thanks

    Ashal

    Reply

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