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:
- NRIs can invest only through an NRE or NRO account because fund companies do not accept investments made in foreign currency.
- NRIs need to furnish documents like PAN card, passport, an address proof for their foreign address
- 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.
- 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.
What is Full KYC? How can I get KYC verified at Glide Invest?
Full KYC is the process by which your KYC verification is performed in-person or via biometric at authorised points of acceptance. As this process has gotten digitised in India, full KYC through Aadhaar-based OTP is now possible completely online and ...
What is KYC & why do you need it?
Know Your Customer (KYC) is a regulatory requirement to ensure protection of customers against fraud, money laundering and illegal activities. You provide certain identity information like PAN card and the data is stored at a safe and secure place. ...
Who can invest through Glide Invest?
Any individual over 18 years of age with an Income Tax department issued Permanent Account Number (PAN) can invest through Glide Invest. Once you signup, getting investment ready is a simple 5 step process. If you have already invested in a mutual ...
How to Earn Glide Coins ?
We are happy to announce our Rewards program on the Glide Invest app. Now investors can earn reward points for healthy financial habits on the app, as well as for referring their friends and family to join the program through the referral program. ...
Why should I invest through Glide Invest?
Glide Invest provides a unified platform through which you can invest across Mutual Fund houses, by registering only once. You get a unified dashboard to review and track the performance of your investments. We also provide risk profile analysis ...