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How the NRIs in Germany invest in Mutual Funds in India?

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26 Dec 2021 | 4 min read

In this growing economy of India, investors get attracted from around the world to invest in India. However, when it comes to mutual funds. It is one of the most popular financial instruments not only among Indian investors but also (NRIs) Non-Indian Residents from all over the world. Thus, the Germany-based NRIs can pursue NRIs for their long-term financial goals such as child’s education, retirement, purchase of a house, and more. All of these include investing in mutual funds, especially in equity funds.  

On the other hand, the applicants can also invest in debt funds to earn better returns than bank savings in the short term. Let’s have some more ideas to get the best mutual funds in Germany to invest in India.  

Best Mutual Funds for NRIs from Germany to Invest in India  

Here are some of the following mutual fund investment options for NRIs in Germany to invest in India are:  

  • ICICI Prudential Mutual Funds 
  • Tata Mutual Funds  
  • Nippon Indian Mutual Funds 
  • UTI Mutual Funds 
  • PGIM Mutual Funds 
  • SBI Mutual Funds 
  • Franklin India Mutual Funds 

Each mutual fund house has different conditions to avail the investment from NRIs based in Germany. However, some of the mutual fund houses allow investment only through paper application forms. Including that only a few of them also accept the online applications through NSE NMFII or BSE STAR MF platforms.  

Best Mutual Funds for NRIs in Germany 

In the given table, you can show the list of best performing mutual funds for NRIs in Germany based on year returns:  

Funds 

3 Mo 

6 Mo 

1 Yr 

3 Yr 

5 Yr 

2022

ICICI Prudential Technology Fund 

8.1 

32.6 

128.9 

29 

22.3 

70.6 

Nippon India Pharma Fund 

17.1 

28.6 

65 

28.7 

17 

66.4 

Tata India Pharma and Healthcare Fund 

11.6 

21.7 

55.4 

25.8 

11.8 

64.4 

UTI Healthcare Fund 

15.2 

23.9 

62.6 

25.8 

12.5 

67.4 

SBI Healthcare Opportunities Fund 

13.8 

25.8 

64.4 

25.3 

10.2 

65.8 

PGIM India Global Agribusiness Offshore Fund 

-16.5 

-1 

35.5 

24.9 

18.7 

72.4 

Tata Digital India Fund 

8.8 

33.4 

106.2 

24.9 

21.3 

54.8 

SBI Technology Opportunities Fund  

7.8 

28.1 

79.5 

23.8 

19.5 

47.3 

Franklin India Technology Fund 

-2.5 

16.7 

77 

22.9 

18.9 

56.8 

KYC Procedure for NRIs in Germany for investing mutual fund in India  

Some key procedures of KYC for NRIs in Germany for investing mutual funds in India are as under: 

  • KYC Form  

When it comes to an NRI, you need to submit the KYC form with all the documents required details filled to the SEBI registered intermediate. One can easily post the documents to the intermediate and apply for a mutual fund.  

  • Documents required  

The following are the documents that need to be submitted for the mutual fund:  

  1. Address proof of your country of current residence.  
  2. Indian address proof  
  3. A copy of the passport  
  4. A recent passport size photograph  
  • Attestation  

NRIs in Germany can get the KYC documents attached by any of these points like- the authorized officials of overseas branches of scheduled commercial banks registered by RBI, judge/court magistrate, public notary, or the Indian Embassy/Consulates in Germany.  

  • In-Person Verification (IPV)  

For NRI In-Person Verification (IPV), it is compulsory for investing in mutual funds. One can easily connect to the official representative of the mutual fund house where the user can invest via conferencing.  

Rules for Investing NRI Mutual Fund  

If the applicant is NRI of Germany based, they need to follow important rules and guidelines of the Foreign Exchange Management Act (FEMA) 1999. In order to start the applicants who invest in NRI Mutual Funds in India. According to law, NRIs must open a rupee-denominated account, submit KYC documents to the representatives.  

Conclusion 

It is concluded that mutual funds for NRIs in Germany have some policies that help the user to make use of their funds safely. You can also check rules for investing in mutual funds in Germany, KYC procedures, best mutual funds for NRI in Germany, and more. If you need to get more details, visit Afinoz.com for applying for a mutual fund.  

Read More:- 

1. 11 Mutual Fund myths busted

2. 5 Common Mistakes NRIs Make When Investing in India 

 

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