Widely read:
I am a resident Indian and I have recently started investing in a few equity mutual funds in India. I will be moving to the USA in six months for five to seven years. Can you please tell me:
- Would I be able to continue my investments?
- Would I be able to keep my investments that I would have made before moving?
- Would I be able to redeem my investments while being in USA?
- What would be the tax implications if I invest as a US based NRI?
NRIs can invest in mutual funds. However, they will have to maintain a bank account in India to invest in mutual funds. An NRI cannot make the investment in foreign currency. He needs to give a Rupee cheque from his NRE, NRO bank account in India. He may also send a Rupee cheque from abroad payable in a bank in India. There won't be any changes in short-term and long-term capital gains taxes on your investments in equity mutual fund schemes.
This article was originally published on October 19, 2015.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
For grievances: [email protected]
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
