US based NRI investing in Indian Mutual Funds.?

I am going to be a US based NRI very soon. I have some mutual fund investments in India which includes investments in US based fund houses like HSBC,Fidelity and Templeton.My question is:
Am I allowed to hold onto these funds after I become an NRI or do I have to redeem the units?Thanks.

5 Replies to “US based NRI investing in Indian Mutual Funds.?”

  1. ask this to the mutual funds company / ur broker.

    And being an NRI, my husband still owns the funds / a stock portfolio in the indian market

  2. Yes you can.
    Your further investments in $ s arewelcomedmore than yuor previous investments.

    You have to open NRI accounts with some bank or directly get IPIN from the funds houses.

  3. There is no restriction . Incase you sell before one year you have to pay Short term Gains tax at 10% . After one year no tax on any withdrawal.

  4. Yes you can still be invested in Mutual Funds in India and get benefit of growing economy.

    What you have to do is update your profile, and confirm with AMC procedures.

    Another thing you can do is open and E-ACCOUNT, The advantage will be you can buy and sell online from anywhere in world.

    CONTACT for assistance

    Hitendra Laljani
    FOR SAMRUDHI (Prosperity for all)

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