The following information is provided for general information only. However, in view of the individual nature of the implications, each investor is advised to consult with his or her own tax advisors / authorized dealers with respect to the specific tax and other implications arising out of his or her participation in the schemes.

1. NRI s and other overseas investors can invest in a Mutual Fund Schemes on Repatriable /Non-Repatriable basis as per the provisions of Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (the 'Regulations') as explained below. A Common Application Form duly completed together with cheques or bank drafts should be remitted through Investor Service Centres ('ISC').
2. All Cheque/demand drafts accompanying the application form must be made in favour of "Selected Mutual Fund - Scheme Name" and crossed "A/c payee" only and should be made payable at a city where the application is accepted by the Mutual fund ISC or any Karvy ISC.
3. Once an account is opened the investor may purchase additional units by filling-up the Common Application Form or by simply filling in the account number in the application form and mailing the same to a Mutual FUND ISC, along with the cheque or the bank draft.

Repatriable Basis - NRI s, PIO s

In case of NRI's, PIO's seeking to apply for purchase of units on a repatriable basis, payments may be made by way of inward remittances, or by way of cheques drawn on the NRE/FCNR Account of the investor [Clause 3(2) of the Regulations] payable at the city where the application form is accepted by any Mutual Fund ISC.

Non-Repatriable Basis - NRI s, PIO s

FII Investors

FII s may pay for their subscription amounts out of funds held in Foreign Currency Account or Non-resident Rupee Account maintained in a designated branch of an authorized dealer [Clause 3(1) of the Regulations]. Payments may be made by way of cheques payable at a city where the application is accepted by any Mutual Fund ISC.

Similarly, in case of an application made under a Power of Attorney or by an FII, the original Power of Attorney (or a duly notarized certified true copy thereof), or the relevant resolution/authority to make the application, along with a certified copy of the Memorandum and Articles of Association and/or bye laws and Certificate of Registration should be submitted to the nearest ISC. The officials should sign the application under their official designation.

The NRI s/PIO s/FII s shall also be required to furnish such other documents as may be desired by the Fund in connection with the investment in the Schemes.

No special approval is required.

NRI s/PIO s/FII s have been granted a general permission by RBI [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 schemes subject to conditions set out in the aforesaid regulations.

Redemption proceeds will be paid by a payable at par cheque and payments will be made in favour of the first Investor and the bank account number shall be mentioned on the cheque as well.

Redemption proceeds/repurchase price and/or dividend or income earned (if any) will be payable in Indian Rupees only. The Mutual Fund will not be liable for any loss on account of exchange fluctuations, while converting the rupee amount in US Dollar or any other currency.

Investments made on Repatriation basis

Under the exchange control regulations general permission is granted to authorised dealers to allow repatriation of proceeds of investments made under Repatriable Schemes. The investments shall carry the right of repatriation of capital invested and capital appreciation so long as the investor continues to be a resident outside India , after payment of tax, if any.

In the case of an FII, the designated branch of the authorized dealer may allow remittance of net sale/maturity proceeds (after payment of taxes) or credit the amount of sale/ maturity proceeds to the Foreign Currency account or Non-resident Rupee Account of the FII investor maintained in accordance with the approval granted to it by the RBI [Clause 5(i) of the Regulations].

In any other case, where the investment is made out of inward remittance or from funds held in NRE/FCNR account of the investor, the maturity proceeds/repurchase price of units (after payment of taxes) may be credited to NRE/FCNR/NRO

Account of the non-resident investor maintained with an authorized dealer in India [Clause 5(ii) of the Regulations].

For transfer to overseas account of the Investor Mutual Fund will not be responsible and the Investor will have to contact the Authorized dealer for the same.

Investment made on non-repatriable basis

Where the purchase of units is made on a non-repatriable basis, the maturity proceeds/repurchase price of units (after payment of taxes) will not qualify for repatriation out of India and the same may be credited to the NRO account of the non-resident investor [Clause 5(ii) of the Regulations]. However the interest earned on an NRO Account is repatriable.

Similarly, investments in units purchased in Rupees while the investor was resident of India and becomes non-resident subsequently will not qualify for repatriation of repurchase proceeds of units.

The entire income distribution on investment will however qualify for full repatriation. Investors are advised to contact their banks/tax consultants if they desire remittance of the income distribution on units abroad.

The entire income distribution on investment will however qualify for full repatriation. Investors are advised to contact their banks/tax consultants if they desire remittance of the income distribution on units abroad.

No. Units cannot be redeemed or allotted on the basis of fax applications. A request that lacks a valid signature cannot be processed due to legal restrictions

Yes. Unlike banks where a POA holder cannot open an account on behalf of the NRI, in a mutual fund the POA has the authority to invest on behalf of the investor and sign documents for initial and additional purchases as well as redemptions.

While applying for purchase of units the POA holder needs to submit the original POA or a copy duly notarised should be submitted. The Power of attorney should contain the signature of both the first holder and the POA holder. Only when the POA is registered does the POA holder have the right to transact on behalf of the NRI investor. His signature will be verified for processing any transaction/request.