You’re allowed to have investments anywhere. As long as interest earned and balance amount greater than $10k are reported when you file for taxes + foreign accounts reporting through fincen. Just be compliant with reporting and you are fine.
Yes,they don’t prevent us from investing but I believe not many fund houses go through the hassle of proving the mutual fund services to NRIs in US and Canada. My sibling who lives in UAE has been able to invest in MF using Axis bank fund house but they have restricted me from using the service. I haven’t researched further to understand which fund houses provide this service 🙂
Thanks guys. My qs is more from continuing with my holdings in existings MFs and letting them grow. Is thta fine ? Not trying to make any new investments
You’re allowed to have investments anywhere. As long as interest earned and balance amount greater than $10k are reported when you file for taxes + foreign accounts reporting through fincen. Just be compliant with reporting and you are fine.
https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar
Yes,they don’t prevent us from investing but I believe not many fund houses go through the hassle of proving the mutual fund services to NRIs in US and Canada.
My sibling who lives in UAE has been able to invest in MF using Axis bank fund house but they have restricted me from using the service.
I haven’t researched further to understand which fund houses provide this service 🙂
Thanks guys. My qs is more from continuing with my holdings in existings MFs and letting them grow. Is thta fine ? Not trying to make any new investments