#MoneyArth

Detail Guide On Gift City Funds For NRIs and OCIs Gujarat International Finance Tec-City, popularly known as Gift City, is India's first International Financial Services Center (IFSC). It is home to banks, financial institutions, and other global businesses, offering them a conducive environment in which to set up their shop and run their operations smoothly. In Gift City, asset management companies (AMCs) have launched their funds, which are known as gift city funds. They come with a unique set of benefits addressing the issues of non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) faced with mutual fund investing in India. ‍ What Are Gift City Funds? Gift City funds are mutual funds launched by AMCs in the Gift City. They operate under the regulations of the International Financial Services Centre Authority (IFSCA). These funds invest in global markets, offering exposure to in...

As more and more Indians move abroad, the distinction between NRIs, PIOs, and OCI holders has become increasingly important. These three terms are often used interchangeably, but they refer to distinct categories of people with different legal statuses and rights. In this article, we’ll take a closer look at how these categories are defined and what they mean. ‍ NRI (Non-Resident Indian) An NRI is an Indian citizen who lives abroad and has not resided in India for more than 182 days in a financial year. According to the Indian Citizenship Act of 1955, an Indian citizen who has not resided in India for six months or more is considered a non-resident. NRIs are eligible to hold Indian passports and are entitled to most of the rights of an Indian citizen, except for the right to vote in Indian elections. The Ministry of Home Affairs of India provides detailed information on the rights and restrictions of NRIs. ...