Have you tried our Free Financial Planner yet? Have you tried our improved Calculators yet? Check out our new Insurance Tutorial Check out our new Investment Tutorial

NRI (non-resident indian)

KYC Requirements for an NRI or PIO

KYC Requirements for NRIs InvestmentYogi takes a look at what it takes to become Know-Your-Customer (KYC) compliant if you are an NRI or a PIO card holder.

                                  

As of 1st January, 2011, Know-Your-Customer (KYC) norms are mandatory for all retail investors, irrespective of the amount you are investing. In the past, retail investors who had invested less than Rs 50,000 had not been required to follow KYC guidelines. That has now changed.

                            

How to become KYC Compliant

                  

CDSL Ventures Limited (CVL), a wholly owned subsidiary of Central Depository Services (India) Limited (CDSL), has been appointed by the mutual fund industry, to do the KYC verification of the investors in India.

                        

You will need to submit the following mandatory documents at a CVL Points of Service (POS) location:

                    

1) Completed KYC application form

               

2) Address Proof (A utility bill, passport, letter from your employer or housing society, ration card, voter ID card, or drivers licence are all acceptable forms of residential proof.)

                         

3) PAN Card

                      

If you are submitting your KYC application in person you will need to have the original documents with you, as well as the copies to be processed. Originals will be returned to you after they are verified as accurate.

                                  

If you are sending the document through a courier, documents need to be attested by a Notary Public, Gazetted Officer, or Manager of a scheduled commercial bank.

                

As of now, there are no charges/fees for KYC verification.

                          

Additional Information for NRIs and PIOs

                       

Additional information for NRIs and PIOs (Person of Indian Origin) will be:

                     

1) Certified True Copy of Passport

                       

2) Certified True Copy of the Overseas address

                       

3) Permanent address

                    

4) For PIO – A certified true copy of the PIO Card

                        

All documents must be submitted in English and can be attested by the Consulate office or overseas branches of scheduled commercial banks registered in India.

                  

How to be compliant if you live outside India

                     

As mentioned above, you will need to get the soft copy of the KYC form that is made available on the website of all Mutual Funds, AMFI and Central Depository Services (India) Limited (CDSL). The same duly completed along with the necessary attested documents (see above list) can be submitted at the POS or mailed to your representative or distributor who can complete the KYC formalities.

Published Mar 17 2011


Our Partners


Comments

Comments

 

kartar singh said:

i need to get kyc customer clearance for my self and my wife surinder,we live in the united states ,but are canadian citizens.

also need oci card for investments,can you provide this service for me,and what are your charges.

thanks

kartar singh

April 16, 2011 10:36 PM
 

RAJESHCHRISTIAN said:

My tenet & family member left India Last five yers

I filed civil suit agaisnt Tenet  KYC is applicable

KYC is applicabe the resident status chnage or Not

Plase help me in my Case

April 28, 2011 12:14 AM
Our Partners

Control Panel
Admin Console
Was this Article useful?