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Become a Part of India's Growth Story From Any Part of the World
Invest in Indian Mutual Funds.
Paperless, Quick, Safe and for Free.
Why Invest in Indian Mutual Funds?
India is the fastest growing economy in the world
India’s GDP is expected to grow at above 7.4 per cent while the developed economies like US, EU and other advanced economies are expected to grow at around 3 per cent (as per UN’s WESP Report).
Higher Interest Rates
Debt mutual funds invest in corporate bonds, debentures, government securities, etc. offering higher interest rates and hence, are an attractive option compared to developed markets where interest rates are on the lower side. It is a very good investment option for short-term investing.
The Value of Active Management
In India, the case of actively managed funds is very compelling. Over a period of 5-10 years, fund managers have managed to deliver much superior returns compared to their benchmarks. Nivesh Mitr picks the best actively managed mutual funds to help your money grow.
We are a young country with more than 65 per cent of the population below the age of 35. As more and more people start working, it will fuel productivity, increase per capita income and also increase the domestic consumer market – increasing the growth potential of the country. With its expanding middle class, India will go places.
Registered Mutual Fund Distributor
100% secured transactions. Member Code - 20534
What do you need to get started?
Bank Account Details
NRE (Non-Resident External Rupee Account)
or NRO (Non-Residential Ordinary Account)
Indian & Overseas Address
Of the Country you are Tax Resident of
Nivesh Mitr's NRI Investing Plan
Invest in Expert Selected Mutual Funds
We help you invest in the best funds suited to your risk profile & current market scenario.
Completely online & paperless
Invest & withdraw from any part of the world in under 5 mins. Easy & fast.
There are no fees/ charges to start investing. It is absolutely free.
Bank Grade Security
We have top-level security in place and have BSE as payment gateway.
We speak with the best to design your portfolio. Read our interviews with industry experts below -
Q. Who is an NRI
A Non-Resident Indian (NRI) as per India’s Foreign Exchange Management Act 1999 (FEMA), is an Indian citizen or Foreign National of Indian Origin resident outside India for purposes of employment, carrying on business or vocation in circumstances as would indicate an intention to stay outside India for an indefinite period. An individual will also be considered NRI if his stay in India is less than 182 days during the preceding financial year.
Q. How can NRIs start investing in Indian Mutual Funds through Nivesh Mitr?
Step 1 - Click here to create your account with Nivesh Mitr. You can enter your overseas mobile number in contact details
Step 2 -Enter your PAN details and other information asked (address, bank account number, etc.)
Step 3 - Upload the required documents and images
Step 4 - Once you complete your registration formalities, our team will check whether/ not your KYC is registered as an NRI.
If yes, your account will be activated within 24 hours and you can start investing.
If not, on your behalf we'll follow the process to get your KYC modified as an NRI. Once done (takes 8-10 working days), your account will be activated within 24 hours and you can start investing.
Q. Through which bank account can I start investing in Indian Mutual Funds?
As per the Foreign Exchange Management Act (FEMA) guidelines, it is illegal for NRIs to have saving accounts in their name in India. It is mandatory that you operate only through NRE/NRO account. NRIs can have invest through two kinds of bank accounts in India -
Non-Resident External Rupee account (NRE account)
The NRE account is an account of an NRI to transfer foreign earnings to India. One can deposit only foreign currency in this account, which gets converted into INR at the time of deposit. Funds from an NRE account can be repatriated abroad. Also, NRE account is tax-free (no income tax, wealth tax, gift tax). You can use the NRE account for investing your foreign earnings in Indian Mutual Funds.
Non-Residential Ordinary account (NRO account)
NRO account is used to manage the income earned in India. You can deposit foreign or Indian currency in this account (once deposited, foreign currency is automatically converted to INR. NRO account has restricted repairability. Taxes will be applicable to NRO account. You can use the NRO account for investing your Indian earnings in Indian Mutual Funds.
Q. Do I need to open a Demat Account for investing through Nivesh Mitr?
No. You don't need to open a demat account for investing through Nivesh Mitr. It is a simple sign-up process. Click here to get started.
Q. Can NRIs invest through foreign currency in Indian Mutual Funds?
NRIs are permitted to invest only through NRE/ NRO account. Foreign currency deposited in these accounts are automatically converted to INR on the day of deposit. And hence, you can invest only in Indian currency.
Q. What taxation rules are applicable to investments by NRIs?
NRIs are generally worried that for income earned in India, they will have to pay taxes twice (in their country of residency & India). That is not the case if India has signed a DTAA with your country of residence through which you can claim tax relief in one country if you've paid tax in the other (to avoid double taxation on the same income.
NRIs are subject to same taxation rules like Indian residents except, at the time of redemption, they are subject to TDS (Tax Deducted at Source) on the applicable rate. Below are the tax rules common to Indian & NRI investors -
Rule 1 - Mutual funds enjoy the benefit of deferred taxation, that is, income tax becomes payable only in the year of redemption/ when you withdraw money from the fund you’ve invested in.
Rule 2 -
Equity Oriented Mutual Fund Schemes
Long term capital gains tax (LTCG) – if the investment was held for more than a year – Tax rate 10%
Short term capital gains tax (STCG) – if the investment was held for 1 year or less – Tax rate 15%
Rs. 1 lakh a year is granted tax-free on equity investments
If you had invested equity mutual funds or shares before 31 January 2018, gains till that date will be considered as grandfathered and will be exempt from tax
Debt Mutual Funds
Long term capital gains tax (LTCG) – if the investment was held for more than 3 years. Tax rate 20% post indexation. Hence, the investor will be taxed of gains over and above inflation-adjusted investment.
Short term capital gains tax (STCG) – if investments were held for 3 years or less. Tax rate = slab rate applicable to the investor
Q. I'm an NRI residing in USA/ Canada. Do different rules apply to me?
NRI from USA and Canada cannot invest in all mutual funds. Certain mutual funds need the investors to be physically in India while making the investments. This means that they cannot do a SIP.
Following are the mutual fund companies that permit online investments by NRI (as on date) -
Reliance Mutual Fund
L&T Mutual Fund