What are some good investment options for OCI in India without major US tax implications (e.g. PFIC for mutual funds)? Got some funds in NRO account.

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ULIPs. Not the greatest but better than FDs given FATCA restrictions.

They were previously tax free, but are now taxable. Also, need to report notional gains/losses, incredibly difficult to manage.

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OCI myself and the big question is why would an OCI invest in India? After inflation risk, currency risk and taxation you barely come out ahead. Love to hear your thoughts.

My apologies, EY2, didn’t mean to come across as insensitive. Typically desis have family contacts and don’t stray away from them, which’s why I made the suggestion. You can DM me and I’ll be happy to share my FA’s details.

I sold all my mutual funds due to the yearly PFIC documentations while US tax filing. So got some funds. Did not want to repatriate it to US due to high conversion rates as of now. So was looking for other options outside of FDs without major tax implications in US

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