Articles
Getting eKYC For NRI Mutual Fund Investment has Become Easy!
by Kim Gill WriterMaking-money is an inevitable practice. And investment in
booming economy makes it double. Non-residents of India (NRIs) know this fact
better. That’s why they keep their eyes on Indian investment trends and market.
After all, it’s booming. The progress and development of this country has taken
away their heart. Who will wish to skip the golden opportunity of making more
coins out of profitable economy! And how
wonderful it is to invest in the country which belongs to you! Aren’t these
ideas GREAT?
Know Your Customer
(KYC)
Mutual funds investment has been NRIs’ cup of tea for many
years. But what is to be done to the barriers of NRI laws? Passing through the
formalities of KYC is quite tough which comes under legal services of NRI Investment.
It is an essential document for migrants. Let I reveal what ‘KYC’
exactly is. It stands for know Your Customer (KYC). Before letting the Indian diaspora living in
foreign countries, to invest in their native land, it has to complete the
formality of KYC. “What documents are needed for documentation work of India”,
let’s have a look:
- Photocopy of passport which should
be consisted of name, passport, photo, DOB and address.
- Offshore address, residential or
correspondence address.
But the problem in getting this form was its outdated form-filling
tradition. Such kind of documentation work
in India required in-person presence of NRIs. And without it, a migrant could
never imagine investing here. But now, it is undergoing a ‘makeover’.
Digitization has stormed in it too. Physical intervention is no more a
necessity for KYC documentation formality. Not even the Aadhar Card will be
required. This is happened just because of ‘Quantum mutual fund’. It has
introduced eKYC on its web portal. With this initiative, an NRI needs not come
in person for his/her verification. It will be completely an online
procedure.
What an NRI is to
follow for the procedure for KYC:
- Visit http://www.quantumamc.com or http://ekyc.quantumamc.com.
- Feed the applicant’s name, mobile
number and email id.
- Scanned and self-attested copy of:
* PAN Card,
* Address Proof
* Latest Bank Statement or Pass Book (Not older than 3 months) - Then, the applicant is scheduled
for E-IPV. It is an interview round. But that can be either online or offline.
It is arranged through Skype or smartphone.
- As far as applicant’s signature is
concerned, it is not mandatory as the affirmation is taken during e-IPV round
verbally. But he has to get a hard copy of a declaration form or pen down the
same on plain white paper with non-black ink. The signature must be matching to
the self-attestation on his PAN card.
- Having completed all these documentation
formalities, the KYC will forwarded for KRA processing.
Note:
Once all formalities are completed online, there remains no
need to dispatch physical form or any other document to the office of mutual
fund. But earlier, NRIs have to upload all documents which are requisite on the
foretold website.
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About Kim Gill 
Writer
42 connections, 0 recommendations, 122 honor points.Joined APSense since, June 12th, 2014, From Mumbai, India.
Created on Dec 31st 1969 18:00. Viewed 0 times.
