US based NRI investing in Indian Mutual Funds.?

Hello,
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.

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.

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

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.

icicidirect.com
hdfcbank.com
sbimutual.com
hdfcmf.com
try

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)

yes, even u r welcomed to invest more

Tags

　　Forex 　　Foreign Investment 　　Financial Investment 　　Fidelity Investment 　　Fidelity Fund 　　Exchange Traded Funds 　　Equity Investment 　　E-gold

Related information

Best Discount Broker for Mutual Funds?

You're partially right. If you have a fidelity account and you buy funds that fidelity doesn't charge a fee for, and the fund is also no load, there is no fee at all. However, when ...

Automatic Investments?

an automatic investment plan is basically where your broker company(in this case Fidelity) takes money from your bank account monthly, or weakly, depending how you set it uopn, and autoomaticaly i...

Can anyone recommend a good basic finance book?

I do not believe that a finance book is what you need to research these funds. Instead go out to morningstar.com to do your research. They are considered one of the two athorities on mutual funds...

Which ING 401k plan?

None of these funds are specific to technology - and that is fortunate for you and your company. The company has an obligation to keep your 401K diversified. Taking sector bets is fun and can...

Can I deduct my IRA contribution if I've maxed out my 403b contribution?

It depends on your income. If you are covered by a retirement plan at work the income phaseout starts about at $52k and ends at $62k (I think). If you are under the limit, you can deduct in f...

May Someone Help With My 401K?

This depends on a lot of things, such as your investing horizon (how long until you retire), risk tolerance, investment experience, and so forth. Assuming a young worker with a 40 year time fram...

Which account(s) should I allocate my 401k to?I am enrolling in my company's 401k and am unsure which?

Well, since your company IS NOT (@$$holes!!) matching your contribution, I would NOT invest in their 401k. Reason being, is that this is the only list of funds you have to work with...which sucks ...

Lazy Portfolios?

Here's a good article from MarketWatch Top 11 'lazy' one-fund miniportfolios Hybrid funds go by many names, and are perfect for many investors By Paul B. Farrell, MarketWatch L...