As the new government in India trying to pool in more investments from the Non-Resident Indian (NRI) community, there seems to be plenty of hope around the inflow of funds into the country that is necessary for the industry and for the economy as well. But what exactly does an NRI need to invest in India is the basic information. Many investment houses and banks provide this information, but every NRI has to be aware of the RBI guidelines, the FEMA Foreign Exchange Management Act. Keep in mind that by far, the NRIs are locally categorized as the US and others. Therefore, there seems to be a different set of unwritten rules for the US-based NRI investors and the other NRI investors. For instance- A US-based NRI might not be able to invest in a mutual fund that is registered in the US because the mutual funds are bound by a specific number of nonresident investors it can take. On the other side, you can always invest in India-specific funds in the United States.
The high growth rate is the key reason for NRIs to invest in India despite minor jerks. the prospect that is welcoming for them. For long, NRI interests in India have been real estate driven and this has drastically changed for different reasons and investors have pushed forward to mutual funds. Accordingly, there is nothing called NRI mutual fund, yet the possibilities for NRIs in Indian mutual funds asks for this coinage. After going through the KYCs (Know Your Customers), an FIRC (foreign inward remittance certificate) and bank accounts (NRE, NRO), The NRI would then have to provide a power of attorney and define his or her mode of redemption in the options available.
Apart from this, An NRI has to be aware of the taxation procedures India as well. NRI investment services provided by NRI Tax Consultants in Pune have evolved a lot and there are many banks that have departments to cater to the NRI investments and to manage their accounts. NRI investments services facilitate liasoning services for the procedural formalities, manage the investments to the point of redemption and advice on investment options. Additionally, they help in stock trading, NRI derivative trading, mutual fund investment and the whole gamut of services that constitute the investment time interval.
NRI Investments Services in terms of the taxation include advisory on tax planning and saving, preparation and e-filing, the 15 CB, 15 CA, and repatriation certificate along with service tax consulting and even tutorials for investment in mutual funds in India.