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Mutual Fund Investment Options in India for NRIs

Updated on August 27, 2025 , 1802 views

Mutual Funds in India are gaining immense popularity since the past few years. It is a great way to grow your money in the long run. Non-Indian Residents (NRIs) who are planning to invest in Mutual Funds in India, you are at the right place to know the details on investment options in India. NRIs based in the US and Canada, there are some fund houses in India that allow you to invest in Mutual Funds in India. Non-US-and-Canada based NRIs can invest in across Asset Management Companies in India. Let's understand the KYC procedure to begin your Mutual Fund investments in India, Taxation for NRIs along with the Best Performing Mutual Funds schemes to invest 2025 - 2026.

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NRE, NRO, FCNR Accounts for Investment in India

To invest in Mutual Funds in India one is supposed to open any of the following accounts with an Indian Bank:

NRE Account

This is Non-Resident External (NRE) account which can be in the form of savings, current, fixed or Recurring deposit. You need to deposit the foreign currency in this account. To be able to deposit Indian currency, you must open NRO account. There is no upper limit on the transaction amount in an NRE account.

NRO Account

The NRO or Non-Resident Ordinary account is in the form of savings or current account that is meant for NRIs to manage their Income earned in India. In NRO account, foreign currency gets converted into Indian rupees after it gets deposited. An NRO account can be held jointly with another NRI as well as resident Indian (close relatives).

FCNR Account

This stands for Foreign Currency Non-Repatriable account deposits. In this account, NRIs can remit their Earnings in one of the six currencies such as Canadian $, US$, Euro, AU$, Yen, and Pound. Funds can be transferred from other FCNR or NRE accounts. In FCNR, the principal and interest don’t accrue any tax.

Once you open any of these accounts, you need successfully complete your KYC (Know Your Customer), under KYC norms, which is set by SEBI (Securities Exchange Board of India). One can complete their KYC with any of the SEBI-registered intermediates.

Mutual Fund Options for NRIs based in US and Canada

NRIs based in the USA and Canada would be able to invest in only some of the Mutual Fund Houses in India. Many AMCs in India are yet to allow investments from NRIs based in USA or Canada. This is due to the complex compliance requirements under Foreign Account Tax Compliance Act (FATCA). Under FATCA, all the financial entities like mutual fund houses, Insurance companies, banks are supposed to furnish their client information to the Government of India that will further be shared with the US/Canadian Government.

Since the time FATCA have come into place, many AMCs have stopped accepting investments from NRIs based in the US and Canada as it involved a lot of paperwork and compliance on the part of AMCs.

These are the list of the following AMCs that accept investments from US/Canada based NRIs:

Each of these AMC has a different condition to accept investments from US or Canada based NRIs. Some of the fund houses amongst these accept investments only in paper application forms, whereas a few may accept online application through NSE NMFII or BSE STARMF platform etc.

Following are some of the best performing schemes from the above mentioned fund houses that accept NRI investments from US & Canada:

Fund3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2024 (%)Sub Cat.
UTI Healthcare Fund Growth 416.34.425.318.242.9 Sectoral
Sundaram Mid Cap Fund Growth 0.919.3-0.922.825.232 Mid Cap
UTI Transportation & Logistics Fund Growth 8.425.1-1.321.824.918.7 Sectoral
Sundaram Infrastructure Advantage Fund Growth -0.720-4.421.225.423.8 Sectoral
UTI Core Equity Fund Growth -0.812.8-420.623.527.2 Large & Mid Cap
Sundaram Small Cap Fund Growth -0.419.3-4.519.726.219.1 Small Cap
UTI Dividend Yield Fund Growth -0.411.5-6.819.520.524.7 Dividend Yield
UTI Infrastructure Fund Growth -2.713-8.519.423.418.5 Sectoral
BNP Paribas Mid Cap Fund Growth -0.514-5.81922.928.5 Mid Cap
UTI Multi Asset Fund Growth 0.99.91.318.815.120.7 Multi Asset
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Aug 25

Research Highlights & Commentary of 10 Funds showcased

CommentaryUTI Healthcare FundSundaram Mid Cap FundUTI Transportation & Logistics FundSundaram Infrastructure Advantage FundUTI Core Equity FundSundaram Small Cap FundUTI Dividend Yield FundUTI Infrastructure FundBNP Paribas Mid Cap FundUTI Multi Asset Fund
Point 1Bottom quartile AUM (₹1,146 Cr).Highest AUM (₹12,596 Cr).Upper mid AUM (₹3,565 Cr).Bottom quartile AUM (₹962 Cr).Upper mid AUM (₹4,865 Cr).Lower mid AUM (₹3,394 Cr).Upper mid AUM (₹4,040 Cr).Lower mid AUM (₹2,193 Cr).Bottom quartile AUM (₹2,183 Cr).Top quartile AUM (₹5,902 Cr).
Point 2Oldest track record among peers (26 yrs).Established history (23+ yrs).Established history (21+ yrs).Established history (19+ yrs).Established history (16+ yrs).Established history (20+ yrs).Established history (20+ yrs).Established history (21+ yrs).Established history (19+ yrs).Established history (16+ yrs).
Point 3Rating: 1★ (lower mid).Top rated.Rating: 3★ (top quartile).Not Rated.Rating: 3★ (upper mid).Rating: 3★ (upper mid).Rating: 1★ (bottom quartile).Rating: 3★ (upper mid).Rating: 3★ (lower mid).Rating: 1★ (bottom quartile).
Point 4Risk profile: High.Risk profile: Moderately High.Risk profile: High.Risk profile: High.Risk profile: Moderately High.Risk profile: Moderately High.Risk profile: Moderately High.Risk profile: High.Risk profile: High.Risk profile: Moderately High.
Point 55Y return: 18.17% (bottom quartile).5Y return: 25.20% (upper mid).5Y return: 24.85% (upper mid).5Y return: 25.38% (top quartile).5Y return: 23.51% (upper mid).5Y return: 26.20% (top quartile).5Y return: 20.47% (bottom quartile).5Y return: 23.38% (lower mid).5Y return: 22.88% (lower mid).5Y return: 15.08% (bottom quartile).
Point 63Y return: 25.31% (top quartile).3Y return: 22.85% (top quartile).3Y return: 21.82% (upper mid).3Y return: 21.17% (upper mid).3Y return: 20.62% (upper mid).3Y return: 19.72% (lower mid).3Y return: 19.49% (lower mid).3Y return: 19.38% (bottom quartile).3Y return: 19.04% (bottom quartile).3Y return: 18.76% (bottom quartile).
Point 71Y return: 4.41% (top quartile).1Y return: -0.94% (upper mid).1Y return: -1.26% (upper mid).1Y return: -4.44% (lower mid).1Y return: -3.98% (upper mid).1Y return: -4.52% (lower mid).1Y return: -6.83% (bottom quartile).1Y return: -8.53% (bottom quartile).1Y return: -5.77% (bottom quartile).1Y return: 1.26% (top quartile).
Point 8Alpha: 0.67 (upper mid).Alpha: 3.17 (top quartile).Alpha: 0.00 (lower mid).Alpha: 0.10 (upper mid).Alpha: 0.06 (upper mid).Alpha: 3.14 (top quartile).Alpha: -3.14 (bottom quartile).Alpha: -4.86 (bottom quartile).Alpha: -2.60 (bottom quartile).1M return: -0.17% (top quartile).
Point 9Sharpe: 0.43 (top quartile).Sharpe: -0.17 (upper mid).Sharpe: -0.65 (bottom quartile).Sharpe: -0.42 (lower mid).Sharpe: -0.39 (upper mid).Sharpe: -0.17 (top quartile).Sharpe: -0.66 (bottom quartile).Sharpe: -0.74 (bottom quartile).Sharpe: -0.49 (lower mid).Alpha: 0.00 (lower mid).
Point 10Information ratio: -0.06 (lower mid).Information ratio: 0.00 (upper mid).Information ratio: 0.00 (upper mid).Information ratio: 0.05 (upper mid).Information ratio: 0.76 (top quartile).Information ratio: -0.51 (bottom quartile).Information ratio: 0.54 (top quartile).Information ratio: -0.36 (bottom quartile).Information ratio: -0.92 (bottom quartile).Sharpe: -0.27 (upper mid).

UTI Healthcare Fund

  • Bottom quartile AUM (₹1,146 Cr).
  • Oldest track record among peers (26 yrs).
  • Rating: 1★ (lower mid).
  • Risk profile: High.
  • 5Y return: 18.17% (bottom quartile).
  • 3Y return: 25.31% (top quartile).
  • 1Y return: 4.41% (top quartile).
  • Alpha: 0.67 (upper mid).
  • Sharpe: 0.43 (top quartile).
  • Information ratio: -0.06 (lower mid).

Sundaram Mid Cap Fund

  • Highest AUM (₹12,596 Cr).
  • Established history (23+ yrs).
  • Top rated.
  • Risk profile: Moderately High.
  • 5Y return: 25.20% (upper mid).
  • 3Y return: 22.85% (top quartile).
  • 1Y return: -0.94% (upper mid).
  • Alpha: 3.17 (top quartile).
  • Sharpe: -0.17 (upper mid).
  • Information ratio: 0.00 (upper mid).

UTI Transportation & Logistics Fund

  • Upper mid AUM (₹3,565 Cr).
  • Established history (21+ yrs).
  • Rating: 3★ (top quartile).
  • Risk profile: High.
  • 5Y return: 24.85% (upper mid).
  • 3Y return: 21.82% (upper mid).
  • 1Y return: -1.26% (upper mid).
  • Alpha: 0.00 (lower mid).
  • Sharpe: -0.65 (bottom quartile).
  • Information ratio: 0.00 (upper mid).

Sundaram Infrastructure Advantage Fund

  • Bottom quartile AUM (₹962 Cr).
  • Established history (19+ yrs).
  • Not Rated.
  • Risk profile: High.
  • 5Y return: 25.38% (top quartile).
  • 3Y return: 21.17% (upper mid).
  • 1Y return: -4.44% (lower mid).
  • Alpha: 0.10 (upper mid).
  • Sharpe: -0.42 (lower mid).
  • Information ratio: 0.05 (upper mid).

UTI Core Equity Fund

  • Upper mid AUM (₹4,865 Cr).
  • Established history (16+ yrs).
  • Rating: 3★ (upper mid).
  • Risk profile: Moderately High.
  • 5Y return: 23.51% (upper mid).
  • 3Y return: 20.62% (upper mid).
  • 1Y return: -3.98% (upper mid).
  • Alpha: 0.06 (upper mid).
  • Sharpe: -0.39 (upper mid).
  • Information ratio: 0.76 (top quartile).

Sundaram Small Cap Fund

  • Lower mid AUM (₹3,394 Cr).
  • Established history (20+ yrs).
  • Rating: 3★ (upper mid).
  • Risk profile: Moderately High.
  • 5Y return: 26.20% (top quartile).
  • 3Y return: 19.72% (lower mid).
  • 1Y return: -4.52% (lower mid).
  • Alpha: 3.14 (top quartile).
  • Sharpe: -0.17 (top quartile).
  • Information ratio: -0.51 (bottom quartile).

UTI Dividend Yield Fund

  • Upper mid AUM (₹4,040 Cr).
  • Established history (20+ yrs).
  • Rating: 1★ (bottom quartile).
  • Risk profile: Moderately High.
  • 5Y return: 20.47% (bottom quartile).
  • 3Y return: 19.49% (lower mid).
  • 1Y return: -6.83% (bottom quartile).
  • Alpha: -3.14 (bottom quartile).
  • Sharpe: -0.66 (bottom quartile).
  • Information ratio: 0.54 (top quartile).

UTI Infrastructure Fund

  • Lower mid AUM (₹2,193 Cr).
  • Established history (21+ yrs).
  • Rating: 3★ (upper mid).
  • Risk profile: High.
  • 5Y return: 23.38% (lower mid).
  • 3Y return: 19.38% (bottom quartile).
  • 1Y return: -8.53% (bottom quartile).
  • Alpha: -4.86 (bottom quartile).
  • Sharpe: -0.74 (bottom quartile).
  • Information ratio: -0.36 (bottom quartile).

BNP Paribas Mid Cap Fund

  • Bottom quartile AUM (₹2,183 Cr).
  • Established history (19+ yrs).
  • Rating: 3★ (lower mid).
  • Risk profile: High.
  • 5Y return: 22.88% (lower mid).
  • 3Y return: 19.04% (bottom quartile).
  • 1Y return: -5.77% (bottom quartile).
  • Alpha: -2.60 (bottom quartile).
  • Sharpe: -0.49 (lower mid).
  • Information ratio: -0.92 (bottom quartile).

UTI Multi Asset Fund

  • Top quartile AUM (₹5,902 Cr).
  • Established history (16+ yrs).
  • Rating: 1★ (bottom quartile).
  • Risk profile: Moderately High.
  • 5Y return: 15.08% (bottom quartile).
  • 3Y return: 18.76% (bottom quartile).
  • 1Y return: 1.26% (top quartile).
  • 1M return: -0.17% (top quartile).
  • Alpha: 0.00 (lower mid).
  • Sharpe: -0.27 (upper mid).

Best Mutual Fund Schemes for NRIs based in Other Countries

In case of Non Residents from other countries, i.e. other than based in US or Canada, the Investing procedure is quite simplified. You can invest in any of the mutual fund houses in India. To ease your investments, we have shortlisted some of the best performing mutual fund schemes that you can prefer investing in.

Fund3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2024 (%)Sub Cat.
Franklin India Short Term Income Plan - Retail Plan Growth 192.1192.1192.147.332.5 Short term Bond
DSP World Gold Fund Growth 21.75466.13710.515.9 Global
SBI PSU Fund Growth -5.114.4-11.228.928.123.5 Sectoral
Franklin India Opportunities Fund Growth 3.418.8-0.628.828.237.3 Sectoral
Invesco India PSU Equity Fund Growth -7.421-11.528.226.125.6 Sectoral
Motilal Oswal Midcap 30 Fund  Growth 1.9150.128.132.257.1 Mid Cap
ICICI Prudential Infrastructure Fund Growth -2.215.7-3283327.4 Sectoral
HDFC Infrastructure Fund Growth -2.317-5.827.430.723 Sectoral
Nippon India Power and Infra Fund Growth -3.517.3-9.627.228.626.9 Sectoral
Franklin Build India Fund Growth -0.716.8-5.227.130.427.8 Sectoral
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 2 May 25

Research Highlights & Commentary of 10 Funds showcased

CommentaryFranklin India Short Term Income Plan - Retail PlanDSP World Gold FundSBI PSU FundFranklin India Opportunities FundInvesco India PSU Equity FundMotilal Oswal Midcap 30 Fund ICICI Prudential Infrastructure FundHDFC Infrastructure FundNippon India Power and Infra FundFranklin Build India Fund
Point 1Bottom quartile AUM (₹13 Cr).Bottom quartile AUM (₹1,212 Cr).Upper mid AUM (₹5,278 Cr).Upper mid AUM (₹7,376 Cr).Bottom quartile AUM (₹1,391 Cr).Highest AUM (₹33,609 Cr).Top quartile AUM (₹7,941 Cr).Lower mid AUM (₹2,540 Cr).Upper mid AUM (₹7,377 Cr).Lower mid AUM (₹2,950 Cr).
Point 2Established history (23+ yrs).Established history (17+ yrs).Established history (15+ yrs).Oldest track record among peers (25 yrs).Established history (15+ yrs).Established history (11+ yrs).Established history (20+ yrs).Established history (17+ yrs).Established history (21+ yrs).Established history (15+ yrs).
Point 3Rating: 2★ (bottom quartile).Rating: 3★ (upper mid).Rating: 2★ (bottom quartile).Rating: 3★ (upper mid).Rating: 3★ (upper mid).Rating: 3★ (lower mid).Rating: 3★ (lower mid).Rating: 3★ (bottom quartile).Rating: 4★ (top quartile).Top rated.
Point 4Risk profile: Moderate.Risk profile: High.Risk profile: High.Risk profile: Moderately High.Risk profile: High.Risk profile: Moderately High.Risk profile: High.Risk profile: High.Risk profile: High.Risk profile: High.
Point 51Y return: 192.10% (top quartile).5Y return: 10.53% (bottom quartile).5Y return: 28.09% (bottom quartile).5Y return: 28.20% (lower mid).5Y return: 26.12% (bottom quartile).5Y return: 32.15% (upper mid).5Y return: 33.02% (top quartile).5Y return: 30.69% (upper mid).5Y return: 28.64% (lower mid).5Y return: 30.36% (upper mid).
Point 61M return: 192.10% (top quartile).3Y return: 36.97% (top quartile).3Y return: 28.88% (upper mid).3Y return: 28.82% (upper mid).3Y return: 28.21% (upper mid).3Y return: 28.09% (lower mid).3Y return: 28.04% (lower mid).3Y return: 27.37% (bottom quartile).3Y return: 27.21% (bottom quartile).3Y return: 27.14% (bottom quartile).
Point 7Sharpe: -90.89 (bottom quartile).1Y return: 66.12% (top quartile).1Y return: -11.19% (bottom quartile).1Y return: -0.57% (upper mid).1Y return: -11.47% (bottom quartile).1Y return: 0.15% (upper mid).1Y return: -3.01% (upper mid).1Y return: -5.80% (lower mid).1Y return: -9.55% (bottom quartile).1Y return: -5.24% (lower mid).
Point 8Information ratio: -2.42 (bottom quartile).Alpha: 2.80 (upper mid).Alpha: 0.19 (upper mid).Alpha: 1.79 (upper mid).Alpha: 5.70 (top quartile).Alpha: 3.70 (top quartile).Alpha: 0.00 (lower mid).Alpha: 0.00 (lower mid).Alpha: -4.86 (bottom quartile).Alpha: 0.00 (bottom quartile).
Point 9Yield to maturity (debt): 0.00% (top quartile).Sharpe: 1.56 (top quartile).Sharpe: -0.78 (bottom quartile).Sharpe: -0.30 (upper mid).Sharpe: -0.57 (lower mid).Sharpe: -0.11 (top quartile).Sharpe: -0.42 (upper mid).Sharpe: -0.56 (lower mid).Sharpe: -0.65 (bottom quartile).Sharpe: -0.51 (upper mid).
Point 10Modified duration: 0.00 yrs (top quartile).Information ratio: -0.56 (bottom quartile).Information ratio: -0.27 (lower mid).Information ratio: 1.83 (top quartile).Information ratio: -0.30 (bottom quartile).Information ratio: 0.44 (upper mid).Information ratio: 0.00 (upper mid).Information ratio: 0.00 (upper mid).Information ratio: 1.02 (top quartile).Information ratio: 0.00 (lower mid).

Franklin India Short Term Income Plan - Retail Plan

  • Bottom quartile AUM (₹13 Cr).
  • Established history (23+ yrs).
  • Rating: 2★ (bottom quartile).
  • Risk profile: Moderate.
  • 1Y return: 192.10% (top quartile).
  • 1M return: 192.10% (top quartile).
  • Sharpe: -90.89 (bottom quartile).
  • Information ratio: -2.42 (bottom quartile).
  • Yield to maturity (debt): 0.00% (top quartile).
  • Modified duration: 0.00 yrs (top quartile).

DSP World Gold Fund

  • Bottom quartile AUM (₹1,212 Cr).
  • Established history (17+ yrs).
  • Rating: 3★ (upper mid).
  • Risk profile: High.
  • 5Y return: 10.53% (bottom quartile).
  • 3Y return: 36.97% (top quartile).
  • 1Y return: 66.12% (top quartile).
  • Alpha: 2.80 (upper mid).
  • Sharpe: 1.56 (top quartile).
  • Information ratio: -0.56 (bottom quartile).

SBI PSU Fund

  • Upper mid AUM (₹5,278 Cr).
  • Established history (15+ yrs).
  • Rating: 2★ (bottom quartile).
  • Risk profile: High.
  • 5Y return: 28.09% (bottom quartile).
  • 3Y return: 28.88% (upper mid).
  • 1Y return: -11.19% (bottom quartile).
  • Alpha: 0.19 (upper mid).
  • Sharpe: -0.78 (bottom quartile).
  • Information ratio: -0.27 (lower mid).

Franklin India Opportunities Fund

  • Upper mid AUM (₹7,376 Cr).
  • Oldest track record among peers (25 yrs).
  • Rating: 3★ (upper mid).
  • Risk profile: Moderately High.
  • 5Y return: 28.20% (lower mid).
  • 3Y return: 28.82% (upper mid).
  • 1Y return: -0.57% (upper mid).
  • Alpha: 1.79 (upper mid).
  • Sharpe: -0.30 (upper mid).
  • Information ratio: 1.83 (top quartile).

Invesco India PSU Equity Fund

  • Bottom quartile AUM (₹1,391 Cr).
  • Established history (15+ yrs).
  • Rating: 3★ (upper mid).
  • Risk profile: High.
  • 5Y return: 26.12% (bottom quartile).
  • 3Y return: 28.21% (upper mid).
  • 1Y return: -11.47% (bottom quartile).
  • Alpha: 5.70 (top quartile).
  • Sharpe: -0.57 (lower mid).
  • Information ratio: -0.30 (bottom quartile).

Motilal Oswal Midcap 30 Fund 

  • Highest AUM (₹33,609 Cr).
  • Established history (11+ yrs).
  • Rating: 3★ (lower mid).
  • Risk profile: Moderately High.
  • 5Y return: 32.15% (upper mid).
  • 3Y return: 28.09% (lower mid).
  • 1Y return: 0.15% (upper mid).
  • Alpha: 3.70 (top quartile).
  • Sharpe: -0.11 (top quartile).
  • Information ratio: 0.44 (upper mid).

ICICI Prudential Infrastructure Fund

  • Top quartile AUM (₹7,941 Cr).
  • Established history (20+ yrs).
  • Rating: 3★ (lower mid).
  • Risk profile: High.
  • 5Y return: 33.02% (top quartile).
  • 3Y return: 28.04% (lower mid).
  • 1Y return: -3.01% (upper mid).
  • Alpha: 0.00 (lower mid).
  • Sharpe: -0.42 (upper mid).
  • Information ratio: 0.00 (upper mid).

HDFC Infrastructure Fund

  • Lower mid AUM (₹2,540 Cr).
  • Established history (17+ yrs).
  • Rating: 3★ (bottom quartile).
  • Risk profile: High.
  • 5Y return: 30.69% (upper mid).
  • 3Y return: 27.37% (bottom quartile).
  • 1Y return: -5.80% (lower mid).
  • Alpha: 0.00 (lower mid).
  • Sharpe: -0.56 (lower mid).
  • Information ratio: 0.00 (upper mid).

Nippon India Power and Infra Fund

  • Upper mid AUM (₹7,377 Cr).
  • Established history (21+ yrs).
  • Rating: 4★ (top quartile).
  • Risk profile: High.
  • 5Y return: 28.64% (lower mid).
  • 3Y return: 27.21% (bottom quartile).
  • 1Y return: -9.55% (bottom quartile).
  • Alpha: -4.86 (bottom quartile).
  • Sharpe: -0.65 (bottom quartile).
  • Information ratio: 1.02 (top quartile).

Franklin Build India Fund

  • Lower mid AUM (₹2,950 Cr).
  • Established history (15+ yrs).
  • Top rated.
  • Risk profile: High.
  • 5Y return: 30.36% (upper mid).
  • 3Y return: 27.14% (bottom quartile).
  • 1Y return: -5.24% (lower mid).
  • Alpha: 0.00 (bottom quartile).
  • Sharpe: -0.51 (upper mid).
  • Information ratio: 0.00 (lower mid).

Comparison between NRO, NRE & FCNR Account

Parameters NRE Account NRO Account FCNR Account
Purpose NRE is an account of an NRI to transfer foreign earnings to India NRE is an account of an NRI to transfer foreign earnings to India NRIs can remit their earnings in one of the six currencies such as Canadian $, US$, Euro, AU$, Yen, and Pound
Current account & Savings Account Yes Yes No, these are FD accounts
Joint Account with NRI Yes Yes Yes
Joint Account with Resident Indian Yes, with close relatives only Yes Yes, with close relatives only
Income generated in India can be held? No Yes No
Funds can be transferred to any Bank in India? Yes Yes No
Repatriation Yes No. Only interest income generated from deposits can be repatriated Yes
When settled back in in India permanently Account gets converted to resident account Account gets converted to resident account Account gets converted to resident account

KYC Procedure for NRIs to Invest in Mutual Funds

To successfully complete your KYC procedure, NRIs need to complete certain important steps and furnish documents like:

a. KYC Form

An NRI needs to submit the KYC Form with all the necessary details filled to the SEBI registered intermediate. The documents can be sent by courier/post to the intermediate.

b. Documents

Following are the necessary documents that need to be submitted:

  • Overseas address proof
  • Indian resident address proof
  • A recent photograph
  • Passport copy

In case of NRIs in the Merchant Navy, a mariner’s declaration or certified copy of Continuous Discharge Certificate must be submitted.

c. Attestation

NRIs or PIOs (Person of India Origin) can get the above documents attested by the authorised officials of overseas branches of scheduled commercial banks registered in India, judge, court magistrate, public notaries, or the Indian embassy/consulate general in the country that they are located.

d. In Personal Verification (IPV)

As per SEBI rules, IPV is mandatory for KYC process. The intermediate should conduct the IPV of NRIs/PIOs.

Please note that all the above documents/proofs while submitting should be in the English language.

Taxation on Mutual funds for NRI Investors

Capital Gains Tax Rates on NRI Mutual Fund Investments for the Financial Year 2017-18 (Assessment Year 2018-19) are as below:

Gains Equity Linked Funds Debt Linked Funds
Tax on Short Term Capital Gain 15% As per Tax Slabs of NRI
Tax on Long Term Capital Gain (with Indexation) NIL 20%
Tax on Long Term Capital Gain (without Indexation) NIL 10%
STCG & TDS Rate 15% 30%
LTCG & TDS Rate Nil 30% On listed funds- 20% (with indexation), unlisted funds- 10% (without indexation)
Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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