{"id":7567,"date":"2017-01-14T08:13:30","date_gmt":"2017-01-14T02:43:30","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=7567"},"modified":"2017-08-13T22:31:46","modified_gmt":"2017-08-13T17:01:46","slug":"mutual-funds-accept-investment-canada-usa-nris","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/mutual-funds-accept-investment-canada-usa-nris\/","title":{"rendered":"8 Mutual Funds that accept Investment from Canada\/USA based NRIs"},"content":{"rendered":"
\"Mutual
Mutual Funds that accept investment from Canada & USA NRIs<\/strong><\/figcaption><\/figure>\n

India is one of the fastest growing economies in the world and hence even NRIs are interested to invest here through mutual funds. Unfortunately most mutual fund houses in India do not accept investments from people based in USA or Canada<\/strong>. This is because Foreign Account Tax Compliance Act (FATCA)<\/strong> enacted by USA.<\/p>\n

According to this law, any individual who is resident of USA (citizens or green card holders) or financially connected to the US or have any tax residency in US have to declare all their foreign income and investment details to US Tax Authorities. The law was enacted to prevent tax evasion through offshore investments by US residents.<\/p>\n

India is signatory of the above law and hence all the financial entities like Banks, Insurance Companies, Mutual Funds, Brokerages, etc have to furnish their client information to the Indian Government, which in turn would share it with US Government. This has lead to cumbersome paperwork and reporting complexities leading to compliance risk for MF houses and hence they had stopped taking any further investment from USA\/Canada.<\/p>\n

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Also Read:<\/strong> How to do FATCA Declaration online for Mutual Funds?<\/a><\/p>\n<\/blockquote>\n

Mutual Funds Accepting Investment from Canada\/USA NRIs:<\/h2>\n

As per Economic Times<\/a> following 8 fund houses are accepting investment from Canada\/USA.<\/strong><\/p>\n

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  1. Birla Sun Life Mutual Fund<\/li>\n
  2. SBI Mutual Fund<\/li>\n
  3. UTI Mutual Fund<\/li>\n
  4. ICICI Prudential Mutual Fund<\/li>\n
  5. DHFL Pramerica Mutual Fund<\/li>\n
  6. L&T Mutual Fund<\/li>\n
  7. PPFAS Mutual Fund<\/li>\n
  8. Sundaram Mutual Fund<\/li>\n<\/ol>\n

    However some fund houses have certain conditions for investment.<\/p>\n