Why Financial Planning?
Planning is bringing the future into the present so that you can do something about it NOW.
As an NRI (Non-Resident Indian), investing in mutual funds in India can be a great way to grow your wealth. However, before you can start investing, completing the KYC (Know Your Customer) process is mandatory.
What we Cover in this Article –
- KYC for NRI mutual fund in India
- Benefits of investing through mutual funds
- Mutual Fund investment process for NRIs
- How to check NRI KYC status
- NRI KYC form for mutual fund
- Online Mutual Fund KYC for NRI
- How to change KYC status to NRI
- NRI KYC FAQs
Must Check- Mutual Funds For NRI In India – Comprehensive Guide
KYC for NRI Mutual Funds in India
Completing the KYC process is a crucial step in investing in NRI mutual funds in India. By following the step-by-step guide outlined in this article and ensuring that all necessary NRI KYC documents are in order, you can complete the process smoothly and start investing in the right mutual funds that align with your financial goals.
Investing in the India Growth story has been one of the dream investment horizons with the investors – at home and abroad. NRIs who are making it big overseas, do not want to miss out on this growth story, because of the corporate resilience that was on display during the most trying times in the last one-and-half years.
The reduction in corporate taxes, cost savings, and formalization of the economy have all resulted in growing profit margins of the listed companies on the BSE and NSE. Similarly, the debt funds are better managed now than earlier with more transparency and more options for safety with growth.
These both present a great avenue for investment in the India growth story through mutual funds. NRIs can participate in this story through their investments in mutual funds in India – it makes sense to know what is required to do so.
Benefits of investing through mutual funds
There are a multitude of advantages of investing in Mutual Funds
1. Professional Management
As we have repeated many times over, if you are not into finance, do not play with your capital. It is always beneficial to give the charge of managing your funds to professionals with a solid track record. Furthermore, they know more about the investment climate in India more than you could with your busy life overseas.
2. Easily manage funds online
Online investments have made it easy to check the health of your investments from anywhere. Using the website or mobile apps of the Asset Management Companies (AMCs) you can start/stop/pause SIP, SWP, or STP; make direct purchases or redemptions; and download account statements and capital gains/loss reports from anywhere, anytime.
3. Benefit from rupee appreciation
If the value of INR appreciates against the currency of your domicile country, then you get to reap more profits. This not a very unlikely scenario, as the currency markets, can be very volatile in the short run.
Mutual Funds Investment Procedure for NRI
AMCs cannot accept investments in their MF schemes in foreign currencies, therefore, NRIs must have either an NRO or NRE bank account in any branch in India. Usually, when a person becomes NRI, their regular savings account can be converted into an NRO account, or they can open a separate NRE account to remit money from abroad for investments.
NRIs also have to adhere to the Foreign Exchange Management Act or FEMA and complete the KYC procedure discussed later. Most AMCs do not accept MF investments from NRIs living in the USA and Canada, but some of the following do: (but there are tax issues)
- BNP Paribas Mutual Fund
- Nippon India Mutual Fund
- Parag Parikh Mutual Fund
- Sundaram Mutual Fund
- UTI Mutual Fund
Check – Smallcase Stock Investing For NRIs
What is the process of KYC for NRI Mutual Fund?
Whether you want to invest in equity, debt, or hybrid funds – based on your personal financial goals, investment horizon, and risk profile – you have multiple options for doing so. But before making the first investment as an NRI, must complete CKYC (Central Know Your Customer) requirements.
Under the Prevention of Money Laundering Act 2002 (PMLA) all categories of investors are required to comply with KYC norms, for carrying out any transaction in their Mutual Fund schemes.
NRI Mutual fund KYC is a simple process of validating and verifying the details submitted by you in your investment application – online or offline – against original documents for the purpose of making investments in financial instruments regulated by SEBI. Being a centralized procedure, if you get your KYC done from one AMC, you do not need to repeat the process with any other AMC for future investments, and even for opening a Demat account.
The NRI KYC process is straightforward, and you can complete both offline and online through Video Calling.
Must Check – Best Mutual Funds in India for NRI 2022 – Equity & Debt Funds
Offline
The CDSL Ventures Limited (CVL) carries out the KYC procedure on behalf of all mutual funds in India. The CVL Points of Service accept NRI KYC application forms, verify against original documents, and provide the KYC Acknowledgement receipt. You can do it by visiting a CVL PoS in-person as well as by posting them to your legal representative, MF Distributor, Financial advisor, or the AMC.
NRI KYC online
The online KYC process has also evolved over the years and is now seamless. You need to upload or email the clearly scanned copies of your required documents and then go through the In-Person Verification (IPV).
The IPV can be done seamlessly over a video call. Earlier, Know Non-Resident Indians (NRIs ) were required to visit the offices or someone visited the investor to verify the papers and paperwork at their home or workplace.
IPV is required to verify that all the copies submitted by the investor are in her possession and the details are correct. Most advisors & distributors, KYC Registration Agency, AMC, or registrar & transfer agents ( Karvy) carry out IPV via video call using Skype, Zoom, Google Meet, etc. You can schedule a comfortable date and time for the IPV video call with the agencies.
Major also offers instant IPV during business hours through their mobile apps using Aadhaar based biometrics or OTP verification.
Check- Beware of Rampant Mis-selling of Expensive Insurance to NRIs
NRI KYC Documents for Mutual Fund
You must send the self-attested copies of the following documents for KYC and must carry them on you for IPV:
- PAN card – if you do not have one yet, then easily apply at NSDL website.
- KYC verification form with latest colour passport size photo. Download the NRI KYC form for mutual fund
- Canceled cheque leaf of your NRO, NRE, or FCNR bank account.
- Certified Foreign Address Proof – residential permit, latest utility bill, DL with address, etc.
- Indian address proof – latest utility bill, DL, Aadhar card, Bank statement, etc.
- Passport – first two and last two pages.
- Foreign Country Tax File Number.
Note: If any of the documents are in a foreign language, then they must be accompanied by a certified English translation. You can get the documents attested at Indian Consulates or overseas branches of banks registered in India.
How to Check NRI KYC Status
Just enter your PAN card number and captcha and check your KYC status. To check your KYC status has been approved or not, you can go to the websites of the Registered KRAs at:
It usually takes only a few business days to update your status online, after which you can start your investment journey through Mutual funds in India. At Wisenri.com, we offer not only financial advisory services but KYC services for our esteemed NRI customers.
How to Change KYC Status to NRI
We keep getting questions on how to update KYC for NRI. If you have an existing KYC status as a resident Indian and need to change it to NRI, you will need to follow these steps:
- Contact your mutual fund company: Reach out to your mutual fund company and inform them of your change in status. They will provide you with the necessary forms to complete the process.
- Obtain the required documents: You will need to submit a copy of your passport, visa, and other relevant documents that establish your NRI status. You may also need to submit proof of overseas address.
- Fill out the forms: Fill out the forms provided by the mutual fund company with accurate information.
- Submit the documents: Submit the filled-out forms along with the necessary self attested documents as mentioned above.
- Wait for confirmation: The mutual fund company will verify the documents and update your KYC status to NRI. You will receive a confirmation from the mutual fund company once the process is completed.
It’s important to note that you should update your KYC status as soon as possible after becoming an NRI to ensure that your mutual fund investments are in compliance with regulations.
FAQs-NRI KYC for Mutual Fund
Q1. How do I know my KYC Status?
You can directly access them online and know your KYC Status by just entering your PAN Number
Q2. What are The advantages of the NRI Mutual Fund KYC?
If you have completed KYC once, then you can invest in any mutual funds any number of times with the same KYC. If you are required to change the address in all your mutual fund investments, you do not need to it separately. If you could update that in the KYC, that will automatically reflect in all the mutual fund folios.
Q3. What are the benefits of Mutual Funds?
The most important benefit of investment in a Mutual Fund is that the investor can redeem the units at any point in time.
Q4. Can I invest in mutual funds?
NRIs are allowed to invest in mutual funds in India – as long as they adhere to the rules of the Foreign Exchange Management Act (FEMA).
Remember to stay up to date with any changes to the KYC process, and always seek professional advice. If you have any questions or concerns regarding NRI KYC for mutual fund add them in the comment section.
Published onMarch 17, 2023
Hemant Beniwal
Hemant Beniwal is a CERTIFIED FINANCIAL PLANNER and his Company Ark Primary Advisors Pvt Ltd is registered as an Investment Adviser with SEBI. Hemant is also a member of the Financial Planning Association, U.S.A and registered as a life planner with Kinder Institute of Life Planning, U.S.A. He started his Financial Planning Practice in 2009 & is among the first generation of financial planners in India. He also authored Bestseller book "Financial Life Planning".
I need check status of my HDFC mutual KYC
Hey Hema Kumar,
To check the status of your HDFC mutual fund KYC, you can visit the HDFC Mutual Fund website and navigate to the KYC status check section. Enter your PAN or application number to track the KYC status online. Alternatively, you can contact HDFC Mutual Fund’s customer service or visit the nearest branch for assistance in checking your KYC status.
I’m currently in the process of completing my KYC for mutual fund investments. An Axis Bank agent has already collected all the required information to activate KYC using my resident bank account. Since I’m an NRI residing abroad, I plan to use my NRI bank account with Federal Bank for further investments and would like to update my KYC status to reflect my NRI status. What are your thoughts or advice on this matter?
Hey Riyas,
To update your KYC status from resident to NRI, it’s crucial to inform the financial institution about your NRI status and provide the necessary documentation, such as your passport, visa, and NRI bank account details. Contact Axis Bank or the mutual fund company to facilitate the KYC update process, ensuring your NRI status aligns with your Federal Bank NRI account for seamless investments. Clarifying this transition with both banks is essential to avoid discrepancies in your investment activities.
HeyI am a distributor of Mutual funds and want to proceed with online kyc of an NRI account Can i get a proper link Thanks
Hello Gumesh,
the process for online KYC of an NRI account for mutual funds might vary among different financial institutions. It’s recommended to directly contact the respective mutual fund company or financial institution’s website to initiate the NRI account KYC process, as they often provide specific online links or guidance for NRI account holders.
How to update mobile no in kyc of a nri?
Hi Rajalakshmi,
First, You have to Contact the Mutual Fund Company. And request a KYC update form from them. Fill out the KYC update form with your updated mobile number and other relevant details. You may be required to provide supporting documents along with the KYC update form. After that, Self-attest the copies of the documents and Submit the completed KYC update form.
I was a nri customer but now i an back to india i am doing sip through axis bank so my axis bank amc had been update but icici pru mutual fund is not updated what is the process
Hi Dinesh,
First, Reach out to ICICI Prudential Mutual Fund’s customer service or investor relations team. Inform them about the changes. After that, Complete your KYC form. Along with the KYC form, you may be required to submit supporting documents. Once your KYC update is processed, your SIP through ICICI Prudential Mutual Fund will reflect the updated information with your current Indian status.
I am NRI and have a NRO/NRE account in India. My father died a year back. He left uti mutual fund units for me in physical form. How to do KYC for redeem them.
Hi Snbans,
Ensure that you have the physical certificates or statements. You may be required to provide a copy of your father’s death certificate. After that, you have to Contact the Mutual Fund Registrar and complete the KYC formalities.
How to modify e kyc
Hi G Narasimhan,
Service providers may have different specific forms or applications for updating e-KYC details. Fill out the necessary form with the updated information and attach any required supporting documents.
The nri does not have an Indian address though he has a pan. How will the kyc happen?
Hi Sonu,
It is possible for NRIs to fulfill KYC requirements without an Indian address, they may need to provide alternative documents and comply with the procedures outlined by the institution they are dealing with.
How to download kyc for non residents
Hello Manjsangh,
Login to your bank or financial institution’s website/app.
Navigate to the KYC update section.
Select the option to change your status from non-NRI to NRI.
Follow the on-screen instructions, upload the required documents, and submit the request for processing.
Want to change KYC status online from non nri to nri
Hey Rohit,
Frist login to your bank or financial institution’s website/app. Navigate to the KYC update section.
Select the option to change your status from non-NRI to NRI. Follow the on-screen instructions, upload the required documents, and submit the request for processing.
I had substantial investments in mutual funds,and have now become nri,how and what do I need to do to manage my mutual fund investments from abroad?
Hey Bharat,
Start with updating your KYC (Know Your Customer) status. And If you had investments in mutual funds as a resident Indian, you’ll need to convert your existing mutual fund folios to an NRO (Non-Resident Ordinary) or NRE (Non-Resident External) account. After that inform the mutual fund companies about your NRI status. Use NRE/NRO bank account for transactions. As an NRI, you’ll have certain tax implications on your mutual fund investments in India so remember that also, and Stay updated on regulations.
Why CAMS KRA isn’t performing IPV through Video call for NRI?
Hey Rajendra,
For Non-Resident Indians (NRIs), performing an IPV through a video call may not be considered sufficient for regulatory compliance and risk assessment purposes. There could be several reasons why CAMS KRA or other KRAs in India may not be offering IPV through video calls for NRIs like regulatory compliance, geographical constraints, risk assessment, identity verification.Thank you Manpreet.
Want to update kyc for nre account in sbi
Hey Ajay,
You will need to visit the nearest SBI branch in India that handles NRI banking services, provide required documents , Fill out the KYC form with accurate and up-to-date information. Provide the necessary documents along with the filled KYC form to the bank representative. Biometric Verification (if required), ensure that you provide the updated details during the KYC update process.
how to check my KYC is NRI ?
Hey Deepak,
To check if your KYC status is NRI (Non-Resident Indian), you can look at your KYC documents or contact your bank or financial institution where you have the account. Your KYC documents should indicate your residential status, and if it states “NRI,” then your KYC status is registered as a Non-Resident Indian.
I am NRI But i dont have any permanent address proof outside India. Stay location is floating and no specific address
Hey Navoranjan,
If you are an NRI without a specific permanent address proof outside India, you can provide a “care of” address or a relative/friend’s address as your correspondence address in India. This address can be used for communication purposes with your bank or financial institution. However, it’s essential to maintain updated contact details with your bank to ensure smooth communication
how do you do KYC for HDFC Mutual fund from United states of america
Hey Paresh,
As an NRI investor in HDFC Mutual Fund from the United States of America, you can complete your KYC by visiting an authorized branch or office of HDFC Mutual Fund in the USA, or by using the services of an AMC (Asset Management Company) authorized distributor/agent in the USA. Provide the necessary KYC documents and complete the verification process as required by the Indian regulations. Alternatively, some AMCs may offer online KYC facilities for NRIs, so you can check if HDFC Mutual Fund provides such a service.
Want to update kyc status as nri
hello can we used Qatar Id As Overseas Address proof For Mutual fund KYC
Hello Ishwari,
Qatar ID may not be accepted as an overseas address proof for Mutual Fund KYC in India.
What is the url for submitting online kyc for nri
Please mention how to change NRI STATUS TO RESIDENT INDIAN STATUS.KYC FOR MUTUAL FUND
Ekyc address proof for nri. What documents to I need to submit
Hey Siddharth,
A copy of the passport containing your photo, name, date of birth, and nationality. This is the primary identification document for NRIs. A copy of your valid visa or residence permit from the country where you currently reside. Any document that serves as proof of your overseas address. Make sure to provide clear and valid copies of the documents for successful verification.
Changing kyc status from Indian to non resident Indian
Hello Vishnu
Here are the general steps you can follow to change your KYC status from Indian to NRI:
1.Contact your bank or financial institution and inform them of your change in status from an Indian resident to an NRI.
2.Provide the necessary documents to update your KYC status. The documents required may vary depending on the bank or financial institution, but typically include your passport, visa, and proof of your new address outside of India.
3.Fill out any required forms or applications to update your KYC status. Your bank or financial institution will provide you with the necessary forms and instructions.
4.Once your KYC status has been updated, you may need to provide additional information to your bank or financial institution, such as your new contact information and details of your foreign bank account.
5.You may also need to update your tax status with the Indian government and file tax returns accordingly. Depending on the duration of your stay abroad, you may be considered a resident or non-resident for tax purposes in India.
Updating kyc from resident to non resident
Hello ankur
Here are the general steps you can follow to change your KYC status from Indian to NRI:
1.Contact your bank or financial institution and inform them of your change in status from an Indian resident to an NRI.
2.Provide the necessary documents to update your KYC status. The documents required may vary depending on the bank or financial institution, but typically include your passport, visa, and proof of your new address outside of India.
3.Fill out any required forms or applications to update your KYC status. Your bank or financial institution will provide you with the necessary forms and instructions.
4.Once your KYC status has been updated, you may need to provide additional information to your bank or financial institution, such as your new contact information and details of your foreign bank account.
5.You may also need to update your tax status with the Indian government and file tax returns accordingly. Depending on the duration of your stay abroad, you may be considered a resident or non-resident for tax purposes in India.
Changing kyc status from Indian to non resident
I have demate account in India which was created in 2014 and KYc is resident Indian . I now love I’m UK and my status is NRI my bank account name is changed as per passport. How can I update my KYc to current status and name as per passport
Hello , Hope you are doing well!
As an NRI, you can update your KYC (Know Your Customer) information with your Demat account by following the below steps:
1.Fill out the KYC Updating form
2.Gather the required documents
3.Submit the form and documents
4.Await verificationOnce your updated KYC information is verified, your Demat account will reflect your updated name and status as an NRI. It is important to keep your KYC information updated to avoid any issues in the future.
I have previously invested in Managed funds. How do I confirm whether my KYC status is complete or not?
Hi Rashmi
To check whether your KYC (Know Your Customer) status is complete or not, you can follow these steps:1.Visit the website of the mutual fund company where you have invested in the managed funds.
2.Look for the “KYC Status” section on the website. This section is usually located under the “Investor Services” or “Customer Services” tab.
3.Enter your PAN (Permanent Account Number) in the provided field and click on “Submit”.
4.If your KYC status is complete, you will see a message indicating that your KYC is verified. You will also be able to see your personal details such as your name, address, and contact information.
5.If your KYC status is not complete, you will need to complete your KYC formalities by submitting the required documents to a KYC registration agency (KRA). You can find the list of KRAs on the website of the mutual fund company or on the website of the Securities and Exchange Board of India (SEBI).
6.Once your KYC formalities are complete, you can update your KYC details with the mutual fund company by submitting the KYC updation form and required documents.It is important to keep your KYC details updated to avoid any issues in the future. If you have any doubts or queries regarding your KYC status, you can reach out to the mutual fund company’s customer service department for assistance.
I want to do KYC for my Mutual Fund account. As per your site I will need latest utility bill etc for current address. But all these documents are in Japanese. CAn I submit those as it is?
Hi Gaurav,
If your utility bills are in Japanese and you need to provide them for the KYC process for your mutual fund account, you may need to have them translated into English or the language required by the mutual fund company.
I am having the NRI KYC with CVL KRA and now i want to update the address in MY KYC .what is the process?
Hi Rama,
Changing of Address in KYC is an offline process.
You can drop your contact here, the concerned person will connect with you.
Kyc asking fed application
My dad has an NRI account with BOI but he has dementia and his account has been dormant for about 4 years. How do we get his KYC done without his signature
Hi Asha
You should consult with your bank.
Hi Asha,
The KYC can not be done without Sign
How should I change my tax residency for my existing mutual fund investments?
Hi Raja,
The process for changing your tax residency for your existing mutual fund investments will vary depending on the country in which you are currently a resident and the country to which you are planning to relocate. In general, you should contact the mutual fund company directly to inquire about the process for changing your tax residency. They may require you to fill out and submit a form, provide proof of your new residency, and possibly sell or transfer your existing investments. It is also advisable to consult a tax professional or financial advisor familiar with the laws of both countries to ensure that you understand the tax implications of your move and take all necessary steps to comply with tax laws in your new country of residence.
Amberi would like to know process to update KYC in pan card
can power of attorney apply for kyc ?
I have pan card which is not NRI pan card. Did I need to apply for NRI pan card or I can use my previous pan card.
Hello jay
An NRI PAN card is the same as a PAN card issued to individuals living in India.
& no all NRIs don’t need to have a PAN
how to make my NRI (OCI) son who is joint holder of MF ti ccomplete kyc?
my son nri (OCI) is joint holder of MF done some decades back. I am not able to redeem because he is not kyc complied whereas I am kyc complied. what is the solutlion
Hi Venkat,
First, Your son should be KYC complied then you can redeem your money.
FOR NRI KYC there is mandatory Indian address Proof?
Hi Dolan,
Yes, It is mandatory
Apart from investments being made using earning from out of India, what really is difference when NRI and Non-NRI invests in same mutual funds?
Do we as NRIs have any other benefit? and if so if I invest as NRI now but settle back in India in year or two, what happens to my investments? and any benefits I might have been entitled to?
Hi Dhruti,
There are no such specific amendments for NRI. The mechanism is the same as in the case of Resident.
I have a registered KYC with status as resident. I want to know whether I can open a NRI demat account with this
Hi Shahir,
As per my knowledge, you have to update the KYC details.
is mandatory to have cancelled NRE cheque for completing KYC registration in India?
Hi Abhisheak
If Your Investments are to be done through NRE A/c , then yes it is mandatory .
Dear Sir or Madam,My name is AFSAL THOYAL KATTIL undersigned would like to ask some clarification on CKYC.I was a resident stock market participant and was holding 2-3 trading accounts with some brokers.Now, when I got a job in UAE, I opened a NON -PIS NRO account for trading and would like to know if my CKYC status is as resident or NRI now?What I am afraid is, whenever my resident trading account companies update the KYC, will it change again as resident from current NRI status?How can I know the KYC is as NRI or Resident?Attached my current CKYC for reference.I am looking forward to hearing from you a positive response and clarification.MY PAN is : ARFPA6585LYours faithfullyAfsal Thoyal Kattil+971 55 82 68 790 (Call or Whatsapp)Abu Dhabi – UAE
Hi Afsal,
Please consult your broker.
How do I find my Acct password
Is it mandatory for NRI to link the Pan card with Aadhaar Card
Hi Bala,
No.
Online kyc for nri
Hi Ajeet,
Please share your Email ID We will contact you.
I am staying in company accomodation
What does this mean: Certified Foreign Address Proof residential permit, latest utility bill, DL with address, etc.?I have foreign Address proof but i need to certify it with certain entity e.g. indian embassy etc? I’m currently in india for vacation for short time, so how i do it now?
Hi Ankit
You can submit either of these documents ( latest utility bill, DL with address) for KYC purpose and you do not need to certify foreign address proof with any entity.
Hi Ankit
You do not need to certify with any entity.
What is the procedure to do online KYC for NRIs
You need to upload or email the clearly scanned copies of your required documents to KYC Registration Agency and then go through the In-Person Verification (IPV).
Setting KYC on PAN
Why i am not able to dowload app
how do i do nri kyc
You can go online or offline for KYC
KYC for NRI investment
Online KYC seems to be restricted to NRI who are physically present in India. There seems to be no option for NRI staying out of India and unable to travel to India due to the pandemic. Appreciate any clarity on this please
Hi Deepak, Kindly consult your KYC provider.
I was previously investing in Indian mutual fund when I was based in India (was resident Indian then). But now shifted abroad and became NRI. If I complete my NRI KYC what would happen to my previously held Indian MF holdings. Any adverse impact or can I invest further or liquidate such holdings once KYC is changed to NRI?
Hi Deepak,
You can continue investing.
Can NRI investor do online kyc
Hi Surbhi,
Yes, you can do online KYC.
tell me the process of NRI e KYC process for mutual funs.
Hi, Sangeeta
The process is as follows:
Step 1- Get ready with Adhar and PAN
Step 2- Enter PAN details
Step 3- Enter Your Adhar No.
Step 4- Enter the OTP.
Step 5- Fill in additional details.
Step 6- Submit to complete KYC.
How to check nri kyc update status?
You can visit the site of
Registered KRAs at:
CAMS Investor Services
CDSL Ventures
Can i use the residence visa copy as address proof for nri
Hii
Yes you can use.
I have done Normal kyc in india for mutual funds..so Nri kyc is different from that as am an nri
Hii Varun
You need to update your KYC for status change
I have an NRI account need to do Investment in a mutual fund but no KYC
Hii Jai
KYC is required for making investment, you can get it done online or offline.
How to complete kyc for NRI
Hii Uttam
KYC can be done online or offline
I am an NRI and want to update my centralized KYC without processing physical documents.
how can I complete my kyc
Please note that the author has conveniently skipped listing the SEVERE DISADVANTAGES for NRIs (especially from USA) to invest in Indian Mutual Funds. There are heavy tax disadvantages for doing so. Complex PFIC formalities have to be complied with and heavy taxes paid in USA. The tax experts in USA charge heavy fees to help you complete the process for which you are solely responsible to the IRS. The worst part for USA NRIs is that the taxes they have to pay in USA on gains from Indian Mutual Funds are very high. If you want to invest in Indian mutual funds, please invest through the USA financial markets in dollars. Please DON’T convert to Rupees for doing so. You don’t have to deal with KYC or CKYC to do so. You will also avoid the rupee depreciation against the mighty dollar when you do that. Similarly, if you need to get life insurance, please get it from an insurance company in USA, not India. Please do proper research on any steps you take as making changes later on may be very difficult and quite expensive. I have learned that in a very hard way.
Good luck, friends.
Dear Chirag,
Thanks for sharing this – hope this will be helpful for US NRIs.
This article is for NRIs across the globe – still I have clearly mentioned there are tax issues in the case of US NRIs.
How to join nri mutul fund
How can I complete NRI KYC from abroad
How can I complete NRI KYC from abroad
