Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS).
Each individual fund is included on a separate form 8621. This is so the IRS can track the fund’s individual basis, income, taxes paid, etc. What Form do I File Instead of the Form 8938? Form 8621, which is used to report Passive Foreign Investment Companies, including Foreign Mutual Funds.
U.S. Tax for Foreign Investors
As a general rule, foreign investors (i.e. non-U.S. citizens and residents) with no U.S. business are typically not obligated to file a U.S. tax return, including on income generated from U.S. capital gains on U.S. securities trades.
Best International Mutual Funds in India 2022
|Sr. No.||International Mutual Funds|
|1.||Franklin India Feeder Franklin US Opportunities Direct-Fund Growth|
|2.||ICICI Prudential US BlueChip Equity Direct-Plan-Growth|
|3.||PGIM India Global Equity Opportunities Fund Direct-Growth|
|4.||Edelweiss Greater China Off-Shore Fund Direct-Growth|
The answer is YES! Through an Individual Taxpayer Identification Number or (ITIN), people who do not have social security numbers can open investment accounts. Brokerage companies such as Vanguard, Charles Schwab, and Fidelity allow individuals with ITINs to open investment accounts.
No, presently investing in stocks listed in foreign stock exchanges is not possible through Zerodha. If you wish to invest in US stocks such as Apple, Google, Facebook, Amazon etc or just have some exposure to global markets then, international mutual funds is the easiest way.
Like any other individual taxpayer, a Non-Resident Indian (NRI) is required to file his return of income in India if his gross total income received in India exceeds Rs 2.5 lakh for any given financial year.
Yes, your existing SIPs can be continued even after your residential status changes to an NRI. However, you will need to do update your KYC with the change in status and submit the relevant documents. Also your NRE/NRO account will have to be linked with your SIPs.
Yes, Non Resident Indians (NRI) and Persons of Indian Origin (PIO) can invest in Indian Mutual Funds on a full repatriation as well as non-repatriation basis. However, NRIs would have to comply with all regulatory requirements such as completion of KYC before investing.