This information is of general nature and investors should seek appropriate legal and tax advice in their own case.
Can NRIs invest in 体育电竞 s in India? Do they require any special permission from the RBI?
Non Resident Indians and (NRI) Persons of Indian Origin (PIO) residing abroad (NRIs) / Foreign Institutional Investors (FIIs) have been granted a general permission by Reserve Bank of India Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 for investing in / redeeming units of the mutual funds subject to conditions set out in the aforesaid regulations. Investments by NRIs in 体育电竞 s can be made on a repatriable or on a non-repatriable basis, as preferred by the investor
To invest on a repatriable basis, you must have an NRE or FCNR Bank Account in India. The Reserve Bank of India (RBI) has granted a general permission to 体育电竞 s to offer mutual fund schemes on repatriation basis, subject to the following conditions:
The mutual fund should comply with the terms and conditions stipulated by SEBI.
The amount representing investment should be received by inward remittance through normal banking channels, or by debit to an NRE / FCNR account of the non-resident investor.
The net amount representing the dividend / interest and maturity proceeds of units may be remitted through normal banking channels or credited to NRE / FCNR account of the investor, as desired by him subject to payment of applicable tax.
The Reserve Bank of India (RBI) has granted a general permission to 体育电竞 s to offer mutual fund schemes on non-repatriation basis, subject to the condition that funds for investment should be provided by debit to NRO account of the NRI investor.
No permission of Reserve Bank either by the 体育电竞 or the NRI investor is necessary. Only Overseas Corporate Bodies (OCBs) and FIIs require prior approvals before investing in 体育电竞 s.