How Can NRIs Invest in Mutual Funds through Opalblue Wealth?

Investing in mutual funds as an NRI is straightforward with FundsIndia. Here’s
a step-by-step guide:

Open an NRI Account

You’ll need an NRE or NRO account to invest in Indian mutual funds. These accounts enable you to handle investments in both Indian Rupees (INR) and foreign currency.

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Submit KYC Documentation

As an NRI, you need to complete Know Your Customer (KYC) requirements, which include providing documents like your passport, overseas address proof, and Indian citizenship proof if applicable

Select Your Mutual Fund Scheme

FundsIndia provides access to a wide range of mutual fund schemes based on your investment goals, whether you want to invest in equity, debt, or hybrid funds.

Power of Attorney (PoA)

If you prefer, you can appoint a Power of Attorney (PoA) to operate your mutual fund account in India on your behalf.

Investment Methods

You can choose to invest via Systematic Investment Plans (SIPs) or through a lump sum amount, depending on your financial strategy.

Frequently asked questions

How Can NRIs Invest in Mutual Fund Schemes through Opalblue Wealth?

NRIs can invest in Indian mutual funds through Opalblue Wealth by following these steps:

1. Complete the Common Application Form with correct details.

2. Attach a Rupee cheque/draft in favor of the scheme name, payable at the location of submission.

   • For Repatriation basis: Use funds from NRE/FCNR accounts or Indian Rupee drafts purchased abroad. Include a bank debit certificate if applicable.

   • For Non-Repatriation basis: Use cheques/drafts from your NRO account.

3. Maintain an Indian bank account—this is mandatory for all NRI mutual fund investments.

4. Submit a copy of PAN, attested by a mutual fund distributor (AMFI/NISM certified), bank manager, notary, or CAMS/ ISCs.

5. Provide KYC acknowledgment or download from the KRA website showing PAN and KYC completion.

6. PIOs must attach a copy of their PIO card.

Once complete, submit or courier your documents to any Official Point of Acceptance associated with Opalblue Wealth.

What are the KYC Formalities for NRIs Investing through Opalblue Wealth ?

To invest in mutual funds via Opalblue Wealth, NRIs must complete KYC through a KYC Registration Agency (KRA) at a Point of Service (POS). The process includes:

1. Fill the KYC Form for individuals and sign both pages.

2. Submit Proof of Identity – Self-attested PAN card and passport copies.

3. Submit Proof of Address – Self-attested documents for both Indian and mandatory overseas address (passport address is acceptable if it matches the KYC form).

4. In-Person Verification (IPV) – Required under SEBI rules.

   • If investing via a distributor (Opalblue Wealth), IPV will be done by us.

   • For direct investments, IPV can be done by a scheduled commercial bank official.

5. Get Acknowledgment – After submission, you will receive an acknowledgment from the intermediary. A confirmation will also be sent by the KRA within 10 days.

Can a Power of Attorney (POA) holder invest on behalf of an NRI investor through Opalblue Wealth?

Yes. A registered POA holder can invest, redeem, and sign documents on behalf of the NRI. The POA must include signatures of both the NRI and the POA holder and must explicitly authorize investment in securities.

• Submit the original or notarized copy of the POA for registration.

• Attestation can be done by a notary, the bank manager of the NRI's NRE/NRO account, or at Opalblue Wealth after original verification.

• Note: A POA holder cannot make nominations on behalf of the NRI.

Can an NRI invest in Mutual funds in India?

Certainly, NRIs can invest in Mutual funds in India. However, a demat account is necessary to make any kind of investment as an NRI

Can an NRI have a joint account in a scheme Fund with a resident Indian?

Yes. An NRI investor can have a joint holding with a Resident Indian or a Non-Resident Indian in a scheme

What is the Tax implication for NRI investors?

Tax implications on Dividends:

Equity SchemesNilDebt SchemesNil

Dividend Distribution Tax (Payable by the scheme):

Equity Schemes**NILDebt Schemes25% + 10% Surcharge + 3% Cess = 28.325%Money Market and Liquid Schemes25% + 10% Surcharge + 3% Cess = 28.325%

Capital Gain taxation

Long Term Capital Gain (Units held for more than 12 months)

Equity Schemes**NILDebt Schemes/other than equity oriented schemes10% without indexation or 20% with indexation whichever is lower+3% cessWithout Indexation10.300%With Indexation20.600%

Short Term Capital Gain (Units held for 12 months or less)

Equity Schemes **15%+3% Cess = 15.450%Debt Schemes30%^ +3 % Cess = 30.900% (^ Assuming that the investor falls in to the highest tax bracket)

• The short term/long term capital gain tax will be deducted at the time of redemption of units in case of NRI investors only.

• ** STT@0.25% will be deducted on equity funds at the time of redemption and switch to the other schemes.( take a view from finance or from tax consultant )

• Mutual Fund would also pay securities transaction tax wherever applicable on the securities bought/sold.

TAX DEDUCTED AT SOURCE

Tax implications on Dividends:

Short TermLong TermEquity15.450%NIL

Equity SchemesNilDebt SchemesNil

Dividend Distribution Tax (Payable by the scheme):

Equity Schemes**NILDebt Schemes25% + 10% Surcharge + 3% Cess = 28.325%Money Market and Liquid Schemes25% + 10% Surcharge + 3% Cess = 28.325%

Capital Gain taxation

Long Term Capital Gain (Units held for more than 12 months)

Equity Schemes**NILDebt Schemes/other than equity oriented schemes10% without indexation or 20% with indexation whichever is lower+3% cessWithout Indexation10.300%With Indexation20.600%

Short Term Capital Gain (Units held for 12 months or less)

Equity Schemes **15%+3% Cess = 15.450%Debt Schemes30%^ +3 % Cess = 30.900% (^ Assuming that the investor falls in to the highest tax bracket)

• The short term/long term capital gain tax will be deducted at the time of redemption of units in case of NRI investors only.

• ** STT@0.25% will be deducted on equity funds at the time of redemption and switch to the other schemes.( take a view from finance or from tax consultant )

• Mutual Fund would also pay securities transaction tax wherever applicable on the securities bought/sold.

TAX DEDUCTED AT SOURCE

Short TermLong TermEquity15.450%NILDebt30.900%20.600% (After providing for indexation)