Good News for USA/Canada based NRIs….! NRIs based in USA and Canada can invests in mutual funds in India now.
Due to FATCA(Foreign Account Tax Compliance Act) and due to stringent rules in the USA, most of the fund houses in India were not accepting applications. But now India signed the Inter-Governmental Agreement (IGA) with USA to improve international tax compliance.
List of fund houses that currently accepting investments from NRIs based in US and Canada
Some Important points:
Source: Economic Times
Thanks for the article – i was struggling to find this information … few days back I got to know that Indian mutual fund companies accepting money from US nris but did not find any valid and trusted news related same.
I have a question – I am a NRI from USA and can I invest in the mutual funds from my NRE account ?and the fund returns are repatirable?
Thanks,
Hi I don’t see this new any where. Can you please confirm the source. Also wanted to invest some money in mutual funds looking for financial planning advisor. Let me know how to approach you.
Thanks for reaching out!
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Prashant