Procedure to invest in Mutual funds for NRI

Here’s a step-by-step procedure to invest in mutual funds for NRIs:

1. Fulfill KYC Requirements:

Submit Know Your Customer (KYC) documents.

• Copy of your passport 
• Proof of address abroad
• Id Proof
• Passport-size photographs,
• Pan or Form 60/61 is mandatory for NRIs, otherwise, they need to comply with FEMA (Foreign Exchange Management Act) regulations

2. Open an NRE or NRO Account:

Choose between a Non-Resident External (NRE) or Non-Resident Ordinary (NRO) account for repatriable and non-repatriable investments, respectively. NRI may choose to provide POA to a trusted person.

3. PIS Approval

Obtain Portfolio Investment Scheme (PIS) approval from an authorized bank to facilitate seamless transactions for mutual fund investments.

4. Select a Mutual Fund

Choose a mutual fund that aligns with your financial goals and risk appetite.

5. Complete the Application Form

Complete the mutual fund application form provided by the Asset Management Company (AMC), specifying the amount to be invested and other necessary details.

6. Payment

Transfer funds from your NRE or NRO account to the designated mutual fund account using the PIS account.

7. Investment Confirmation

Once the transaction is complete, you’ll receive a confirmation statement detailing your mutual fund investment.

8. Monitor and Manage

Keep track of your investments, monitor performance regularly, and make adjustments as needed to align with your financial objectives.

MutualFundWala simplifies the mutual fund investment process in India by assisting, making it effortless for you to navigate and invest in mutual funds.

Remember to stay informed about any regulatory changes and consult with financial advisors to ensure compliance with guidelines.