What you must know about eKYC in mutual funds
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How Index Funds Prevailed
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Mutual Funds Investing
Mutual fund managers find summer rewards in emerging markets
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Emerging markets gives money to mutual fund managers
Mutual fund managers specializing in precious metals or emerging markets have enjoyed substantial gains during the summer of 2016. The more savvy among them have returned an excess of 20 percent during the 14 weeks period from Memorial Day to Labor Day. Continue reading at financialbuzz.com
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Investing in mutual funds is one of the easiest ways to start investing. It was designed to allow non-professional investors to ge…
Mutual Funds Investing
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When Target-Fund Fees Are Off-Target
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U.S. regulators allow BlackRock funds to lend to one another
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* Most important steps and things to know for NRIs wanting to buy mutual funds in India. URL:https://youtu.be/iIyKG-EKOqE
Find out if you can invest
Check whether your country of residence will permit your investment. Further, check whether the fund houses sell their funds to NRIs in your country of residence.
Explore if your representative can invest for you
It might be difficult for you to complete investment related formalities, such as buying units, switching, redemption and, so on. Find out if your his India-based representative could do all this with the help of a registered Power of Attorney (PoA).
Get the KYC done
Know Your Customer (KYC) procedure for you and your representative i.e. the Power of Attorney holder, needs to be done. Complete the procedure by submitting the KYC application form. Remember, you need to be there in person for the verification of the KYC application.
Select a bank account
Depending on whether you want to send the money back to your country of residence, you can choose between an NRE or NRO bank account
You and your representative will need to submit FIRC (Foreign Inward Remittance Certificate) or confirmation letter issued by the bank confirming the source of the funds. Alternatively, provide a photocopy of rupee draft or banker's cheque, if sought. Check whether the fund house allows direct debit for purchase of mutual fund units by NRIs and if there are restrictions for online transactions.
Check for double taxation agreements
Find out about the tax treatment of your mutual fund investment earnings in India in your country of residence. A double taxation avoidance agreement (DTAA) between two countries will help you avoid getting taxed twice. Help the client in getting relevant tax-related information.
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