(Last Updated: March 21, 2018)
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NRI/OCI Investment Options in India

  • Hello,I have a few queries in context of investment options in India.
    My case is:-
    I am residing in India since 2009 and I am earning salary here. Have no income in the USA.
    *Hold OCI card and have US Passport
    *Have stayed in India except for travelling to USA for vacation (not more than 10 days) since 2009
    *Have been paying taxes in India since 2009 and filing for US taxes.
    What are my investment options? Can I become partner in a company and be part of profit sharing? What will be the legalities and taxation?
    Am I liable to pay taxes in the USA if the earning become beyond a certain threshold? Can I invest in Mutual funds,bonds, FDs, stocks? What bank account do I open – all forms ask one question – are you an Indian citizen? – What should be the answer? There is no such category as Resident Indian Foreign National and some such..
    Can I open DMAT account? What do I write in KYC form – Indian Citizen or ???

  • Hi,
    An OCI card holder is treated at par with Non Resident Indian or NRI for financial and educational matters. Only few mutual fund houses allow NRIs from US to invest in mutual funds.While investing in mutual funds you need to comply with KYC requirements as well as FATCA Compliance is required.For investment options, you can check our detailed posts for NRIs : http://fintrakk.com/best-investments-for-nri/ and http://fintrakk.com/how-can-nri-invest-in-mutual-funds-in-india-us-canada-other-nris/
    For NRIs global income is taxable in India. As far as paying taxes in US is concerned, it is better to check the same with some International taxation expert.

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