Are there any special requirements for Persons of Indian Origin (PIO)?
Yes. The requirements are same as those applicable to Non Residents Indians. • Are all investors / unit holders required to meet requirements under PMLA / KYC Policy? Yes, PMLA and KYC requirements apply to all classes of investors. At present, KYC norms are applicable only with respect to investors intending to invest an amount of Rs. 50,000 or more. This threshold limit of Rs. 50,000 may be changed at our discretion at any future date, to a lower amount. If you are not KYC compliant, you will not be able to transact with us. • Are the KYC requirements only for new investments? Yes. These requirements are only in respect of new investments (new subscriptions). Redemptions, switches and dividend reinvestments of any value are presently exempt from these requirements. • Are Know Your Customer Application Form (KAF) / documentation requirements separate for Individual / Non- Individual applicants? Yes. Separate KAF is available for Individual and Non-Individual applicants. Documentation
Yes. The requirements are same as those applicable to Non Residents Indians. • Currently I am out of India. Can I send scanned copy of the required documents or fax the same for verification? You may send us a true copy of your documents attested by the Notary Public, Gazetted Officer, Manager of a Scheduled Commercial Bank (Name, Designation and Seal should be affixed on the copy) or by an official from the local office of the Indian Embassy / Consulate. However, the KYC application form has to be in original only. • I work for the Merchant Navy and hence, do not have any overseas address proof. I wish to get KYC compliant. How do I go about it? You may provide your local address proof and a notarized copy of mariner’s declaration or your Continuous Discharge Certificate (CDC). GUIDANCE NOTE This FAQ is only meant to clarify certain basic questions around PMLA. The information given is included only for general purpose and the investors / unit holders should be aware that the relevant
Yes. The requirements are same as those applicable to Non Residents Indians. • Currently I am out of India. Can I send scanned copy of the required documents or fax the same for verification? You may send us a true copy of your documents attested by the Notary Public, Gazetted Officer, Manager of a Scheduled Commercial Bank (Name, Designation and Seal should be affixed on the copy) or by an official from the local office of the Indian Embassy / Consulate. However, the KYC application form has to be in original only. • I work for the Merchant Navy and hence, do not have any overseas address proof. I wish to get KYC compliant. How do I go about it? You may provide your local address proof and a notarized copy of mariner’s declaration or your Continuous Discharge Certificate (CDC). GUIDANCE NOTE This FAQ is only meant to clarify certain basic questions around PMLA. The information given is included only for general purpose and the investors / unit holders should be aware that the relevant
Related Questions
- Whether donations by person of Indian Origin (PIO) Card holder or Persons of Indian Origin (PIO) who hold other country’s passports or registered Overseas Citizens of India (OCI) would be considered ‘foreign source’?
- Can Non Resident Indians ( NRIs ) and Persons of Indian Origin ( PIO ) participate in ESOP?
- Are there any special requirements for Persons of Indian Origin (PIO)?
