Mutual Funds For Nri Investors
February 16, 2023 ⚊ 1 Min read ⚊ Views 125 ⚊ BUSINESS
NRIs to invest in mutual funds will have to do in rupee. Other currencies besides the rupee are not processed in Indian mutual fund houses. Additionally, NRIs should open NRO Account (Non-Resident Ordinary Rupee Account), NRE Account (Non-Resident External Rupee Account), or FCNR account (Foreign Currency Non-Resident Account).
For opening an NRI investment account the NRI should submit KYC documents including PAN. NRIs can use direct debit to purchase mutual fund shares. The money will either be taken from their NRO/NRE account or remitted through standard banking.
Read details: https://www.fundsindia.com/nri
Tags: elss, Mutual Fund, Mutual funds
