Yes. A resident Indian investor can nominate an NRI (Non-Resident Indian) in mutual fund investments in India.
Essential Details:
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SEBI and AMFI guidelines place no restrictions on the nominee’s residential status.
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The nominee can be any individual, including an NRI or foreign national.
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Having an NRI nominee ensures smooth transmission of mutual fund units or proceeds in case of the investor’s demise.
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Nomination can be made during initial investment or later through a nomination form submitted to the AMC or RTA.
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The nominee’s KYC and documentation must be completed as per the AMC’s policy at the time of claim settlement.