Glide Invest FAQ: Can NRI customers invest through Glide Invest app?

Can NRI customers invest through Glide Invest app?

No, at this point, we are not permitting NRI customers to invest through our app.  We will enable this feature in the near future. If you are a NRI customer, do go ahead and register on the app and complete your KYC.  We will notify you as soon as this feature is enabled. 

Here are some rules for NRI customers to keep in mind while investing in MFs in India:
  1. NRIs can invest only through an NRE or NRO account because fund companies do not accept investments made in foreign currency.
  2. NRIs need to furnish documents like PAN card, passport, an address proof for their foreign address
  3. If the NRI is a US or a Canadian citizen, then they will have to comply with some additional requirements under the FATCA rules and would need to submit some additional forms. In fact, because of these additional compliance requirements, some fund houses do not accept investments from US or Canadian citizens.
  4. There are TDS laws which are applicable to capital gains. So while the overall applicability of capital gains for an NRI is the same as an Indian resident, the fund house is liable to deduct from the capital gains going to NRIs at the time of redemption.

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