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Can US-based NRIs invest in Mutual Funds (MFs)?

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Yes, NRIs based in the United States are eligible to invest in Mutual Funds in India. They can invest in a repatriable as well as on a non-repatriable basis. However, they can only invest in Indian Rupee. Also, NRIs from the US and Canada have additional compliance requirements under the FATCA act.

The RBI has granted general permission and therefore no special permission is required by a US NRI or of other countries' to invest in Mutual Funds in India.

Note:

  1. An NRI must complete the Mutual Fund KYC process.
  2. A rupee-denominated NRE/NRO Savings Bank Account should be opened.
  3. NRIs can invest in MFs directly or through a Power of Attorney (PoA) holder.

Read NRI Mutual Fund Investment Online in India to know in detail about the MF investment process, rules, and taxation.

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