Impact of Residential Status on Indian Investments
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NRIs can invest in Indian investments subject to terms and conditions. If your residency status changes, an update is needed in your accounts. Let’s decode.
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Options for NRI investments in India
NRIs can invest in real estate, stocks, mutual funds, fixed deposits, National Pension System (NPS) schemes etc.
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Investments in Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and Sovereign Gold Bonds are restricted for NRIs. However, you can stay invested if they were created when you were an Indian Resident.
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For PPF, you need to inform the concerned department about your NRI status. You can maintain your PPF till its maturity, but cannot extend it.
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When it comes to Mutual Fund investments, you need to update your residential status with the KYC Registration Agency (KRA).
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For National Pension Scheme (NPS), you need will need to change your bank details to an NRE/NRO account to continue investing in a Tier 1 account.
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Understand the impact of residential status when planning your investments. Choose IDFC FIRST Bank NRI Services for seamless investing online.