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Indian Mutual Fund Eligibility for NRIs

Find which Asset Management Companies accept you, based on your country of residence

How this works: Pick your country of residence and see which Indian Asset Management Companies (AMCs) accept new investments from NRIs based there. US and Canada NRIs are the most restricted due to FATCA and provincial regulations. Last updated: 2026-05-24.

Open to you

Conditional

Restricted

No AMCs match the current filter.

AMC policies change without notice. Always confirm with the fund house directly before investing. FATCA-restricted AMCs may still allow exiting investments — these flags refer to new investments only.

Common Questions

The US Foreign Account Tax Compliance Act (FATCA) and similar Canadian rules require Indian AMCs to report on US/Canada-based NRI investors annually. Many smaller AMCs find the compliance cost prohibitive and simply close their doors to new investments from these countries. AMCs like Nippon India, UTI, ICICI Prudential, and Sundaram still accept US/Canada NRIs, usually with extra paperwork and offline-only mode.
Conditional means the AMC accepts NRI investments from that country, but with extra requirements — usually offline (physical) application only, additional FATCA declarations, and sometimes a higher minimum investment. ICICI Prudential is the most common example for US/Canada NRIs.
Yes. The restrictions apply to NEW investments only. Existing SIPs, lump-sum investments, and switch-ins to existing schemes remain unaffected. You can also redeem or partially withdraw at any time. However, you typically cannot add new SIPs or start fresh schemes once the AMC has restricted your country.
AMC policies change without notice. NRIWallah aims to refresh this list quarterly based on AMC website disclosures and KYC form updates. Always confirm directly with the fund house or via your distributor before initiating a new investment — restrictions can change between updates.
Yes. Beyond the AMCs marked ‘open’ or ‘conditional’ above, US/Canada NRIs have these alternatives: (1) Direct stocks via a PIS account with brokers like Zerodha NRI or ICICI Direct; (2) US-listed India ETFs (INDA, EPI); (3) GIFT City-based mutual funds (newer route gaining traction); (4) Investing in Indian bonds via the Fully Accessible Route (FAR). See our NRI investment guide for details.
Not yet — this list covers traditional open-ended mutual funds only. ETFs are covered separately under direct equity (PIS account rules apply). Portfolio Management Services (PMS) have different eligibility rules and minimum investment of Rs 50 lakh — we’ll add a separate PMS comparator in a future update.

Related guides

NRI Investment Guide

NRI Banking (NRE/NRO)

Send Money to India

Last reviewed: May 2026

Why This Tool Exists

The FATCA restrictions on Indian mutual funds for US and Canada NRIs are one of the most confusing — and badly documented — parts of being an Indian abroad. You hear about it from a cousin, find a forum post from 2018, then waste an evening trying to figure out which AMC actually accepts you in 2026.

This checker keeps that information in one place and updated.

What This Covers

Twenty of India’s largest AMCs by AUM, with eligibility data for the 14 countries with the largest Indian diaspora populations. For each:

  • Open — accepts new NRI investments from your country, normal online flow
  • Conditional — accepts you, but with extra paperwork, offline-only, or additional declarations
  • Restricted — does not accept new investments from your country (existing investments are unaffected)

The Three Most Important Insights for US/Canada NRIs

  1. You’re not locked out entirely. Nippon India, UTI, Sundaram, and (with conditions) ICICI Prudential still accept you. That’s enough AMC variety for a diversified portfolio.

  2. It’s offline-only, usually. Forget MF Utility or the AMC’s app — most US/Canada-accepting AMCs require physical KYC and form submission. Plan for postal turnaround.

  3. Your existing investments are safe. If you started SIPs in an AMC before becoming a US/Canada NRI, those continue. The restrictions apply only to new investments.

What’s NOT On This List

  • PMS (Portfolio Management Services) — different eligibility rules, Rs 50 lakh minimum
  • AIFs (Alternative Investment Funds) — Category I/II/III have separate FEMA rules
  • GIFT City-based funds — newer route via IFSC, gaining traction for US/Canada NRIs
  • Direct equity / stocks — needs a PIS account, separate from MF eligibility

A Word on Reliability

AMC policies change without an announcement. We refresh this list each quarter against AMC website disclosures and KYC form updates, but the only source of truth is the AMC’s own website or your distributor. Confirm before you transact.

NRIWallah does not provide investment advice. This tool is for general guidance only. Consult a qualified financial adviser before investing.

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