What is the power of attorney (PoA) for NRI mutual funds?

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

NRIs can invest in mutual funds in India directly or through a PoA. A PoA is a legal document authorizing a designated person to operate a mutual fund folio or account on his behalf. The PoA holder can make transactions on a folio as per the powers vested to him on the PoA document.

Key facts about PoA for NRI Mutual Funds:

  • The PoA document needs to be notarized to make it legal.
  • The PoA can be designated only with the consent of all holders of the folio.
  • A notarized PoA document needs to be submitted to the mutual fund with signatures of all holders of the folio or account.
  • The PoA will have only those powers as laid out in the document.
  • He/She cannot modify or change nominees in a mutual fund scheme.
  • NRIs can add/remove PoA anytime by writing to the AMC.


Add a public comment...