Hi Sreekath,
I spoke to ICICI bank this week to see if I can start a MF from Canada and they replied that I cannot do that, instead they said I can only invest in Equity i.e buying or selling shares. Can you suggest me how I can start investing from here or if I can open account online from here. My plan is to invest 20k - 25k per month
Thanks
Naveen
1 Answers
Hi,
Most fund houses in India dont allow NRIs from US and Canada because of the cumbersome compliance requirements under FATCA.
https://www.relakhs.com/fatca-compliance-requirements-impact-mutual-fund-investments/
Confirmed list of AMCs accepting investment from US based NRIs includes – L&T, UTI, PPFAS, Sundaram and Canara Robeco.
You can open account with MF Utility or some online platforms like FundsIndia, Invezta etc. and can invest in the schemes which are open for NRIs.
Kindly read :
https://www.relakhs.com/ckyc-central-kyc-mutual-funds-shares/
https://www.relakhs.com/ekyc-for-mutual-fund-investments-by-quantum-reliance-mutual-fund-houses/
https://www.relakhs.com/mfutility-invest-direct-plans-mutual-fund-schemes-online/
https://desk.zoho.com/portal/kristal/kb/articles/how-to-open-a-mfutility-account-nris-nros-pios
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