Mutual Funds & FEMA Rules

Last week, I spoke with Priya, an NRI in Dubai who'd been investing in Indian mutual funds for three years through her old resident savings account. 

She didn't know this was illegal. Her bank discovered the violation during a routine audit and froze her account - with ₹18 lakh locked inside.

Stories like this happen more often than you'd think. 

At Belong, we hear from dozens of NRIs every month who unknowingly violated FEMA (Foreign Exchange Management Act) rules - simply because no one explained what they mean in plain language.

Here's the truth: FEMA isn't designed to punish you. It's designed to regulate how foreign currency flows in and out of India - which includes your mutual fund investments. 

But the rules are specific, and violations carry real consequences: frozen accounts, penalties up to 3x the transaction amount, and in severe cases, legal action.

The good news? FEMA compliance is straightforward once you understand it. 

This guide walks you through every FEMA rule that affects your mutual fund investments - which accounts you must use, what you can and cannot do, how repatriation works, and how to avoid penalties entirely. By the end, you'll know exactly how to invest compliantly, safely, and confidently.

What FEMA Actually Means for You (In Simple Terms)

FEMA stands for Foreign Exchange Management Act. It was enacted in 1999 to replace the stricter FERA (Foreign Exchange Regulation Act) and create a more liberalized framework for managing foreign exchange in India.

Think of FEMA as the rulebook that governs:

  • How you send money to India
  • Which bank accounts you can use
  • What you can invest in
  • How you bring money back out (repatriation)

For NRIs investing in mutual funds, FEMA creates a specific set of requirements. You can't just use any bank account. You can't invest in any instrument. You can't move money freely without following protocols.

FEMA's primary objective is to facilitate external trade and payments while maintaining orderly development of India's foreign exchange market. It's not meant to restrict you - it's meant to ensure transparency, prevent money laundering, and track capital flows.

The key principle: Once you become an NRI (living outside India for more than 182 days in a financial year or for Indian citizens, this threshold is reduced to 120 days if their total income in India exceeds ₹15 lakh in that year.), you're governed by FEMA for all financial transactions in India. Your residential status determines which accounts you hold, how you're taxed, and what you can do with your investments.

Most NRIs I meet don't realize how much FEMA impacts their day-to-day investments. You might think "I'm just buying mutual funds like I used to." But under FEMA, that simple act now requires:

  • An NRE or NRO account (not a resident account)
  • Updated KYC with NRI status declaration
  • Compliance with repatriation limits
  • Understanding of which funds you can and cannot invest in

Let's break down each of these requirements - and what happens if you get them wrong.

The Number One FEMA Violation: Using the Wrong Bank Account

This is the mistake Priya made - and it's the most common FEMA violation we see.

When you become an NRI, FEMA prohibits you from maintaining a regular resident savings account. You must convert it to an NRI account within a "reasonable period" (typically 3-6 months).

Many NRIs don't do this. They continue using their old ICICI, HDFC, or SBI resident account because:

  • It's easier - no paperwork
  • Their salary or investments are already linked to it
  • They didn't know it was illegal

Why FEMA cares about this: Regular resident accounts are meant for residents paying taxes in India. NRIs have different tax treatment, repatriation rights, and reporting requirements. Mixing the two creates regulatory confusion and potential for misuse.

The penalty: FEMA violations can result in penalties up to 3 times the amount involved in the contravention, or ₹2 lakh for non-quantifiable violations. For continuing violations (operating a resident account for months or years after becoming NRI), there's an additional penalty of ₹5,000 per day.

In Priya's case, she'd been operating her resident account for 2+ years after becoming an NRI. The bank froze her account pending investigation. She had to pay ₹1.5 lakh in penalties plus interest, convert her account retrospectively, and file corrected tax returns.

All of this was avoidable.

👉 Tip: The moment you know you're becoming an NRI (job offer abroad, visa approval), contact your bank's NRI services division and start the account conversion process. Don't wait until after you've moved.

Also Read - FEMA Guidelines Every NRI Should Know

Which Account Type FEMA Requires for Mutual Funds

FEMA allows NRIs to open three types of accounts. Each serves a different purpose, and choosing the wrong one for mutual funds can create headaches later.

NRE Account (Non-Resident External)

What it's for: Managing foreign earnings (salary, business income earned abroad)

Key features for mutual funds:

FEMA rules:

  • You can only credit foreign currency earnings (converted to INR) or transfers from other NRE/FCNR accounts
  • You cannot credit Indian-sourced income (rent, dividends, pension) to NRE

Best for mutual funds when: You're funding investments with your foreign salary and want maximum repatriation flexibility.

NRO Account (Non-Resident Ordinary)

What it's for: Managing Indian earnings (rental income, dividends, interest, pension, sale proceeds)

Key features for mutual funds:

FEMA rules:

  • You can credit both Indian and foreign income
  • Repatriation requires CA certificate (Form 15CB) and filing Form 15CA for amounts above ₹5 lakh

Best for mutual funds when: You're reinvesting Indian income (like rental or dividend income) or you don't plan to repatriate large amounts.

Also Read - How to Repatriate Funds from NRO/NRE Accounts

FCNR Account (Foreign Currency Non-Resident)

What it's for: Fixed deposits in foreign currency (USD, GBP, EUR, etc.)

Key features:

  • Not typically used for mutual fund investments (mutual funds are INR-denominated)
  • Interest is tax-free and fully repatriable
  • Used primarily for fixed deposits, not equity or mutual funds

When it matters for mutual funds: If you redeem mutual funds and want to park proceeds in foreign currency before repatriating, you can transfer NRE balance to FCNR fixed deposit.

Also Read - NRE vs NRO vs FCNR

Which Account Should You Use for Mutual Funds?

Here's the decision tree:

If you're funding investments with foreign earnings → Use NRE account

  • Example: You work in Dubai, earn AED monthly, send part of it to India to invest in mutual funds

If you're reinvesting Indian income → Use NRO account

  • Example: You have rental property in Mumbai earning ₹50,000/month. You want to invest that in mutual funds

If you're unsure → Open both NRE and NRO, use NRE for new investments

  • This gives maximum flexibility and keeps repatriation options open

Once you link the correct account to your mutual fund folio, all redemptions automatically credit to that account. You can't easily switch later without redemption and repurchase (which triggers capital gains tax).

👉 Tip: If you're planning to return to India in 5-10 years, NRO might be better (lower repatriation pressure). If you're building wealth to eventually move abroad permanently, NRE is smarter.

FEMA's Repatriation Rules (And Why They Matter)

Repatriation is the process of bringing money from India back to your foreign bank account. FEMA has specific rules about how much you can repatriate and under what conditions.

NRE Account Repatriation (Unlimited)

If you invested mutual funds through NRE account:

This is the cleanest, simplest repatriation scenario under FEMA.

NRO Account Repatriation ($1 Million Annual Limit)

If you invested mutual funds through NRO account:

FEMA's reasoning: NRO accounts hold Indian-sourced income. Unlimited repatriation could create capital flight. The $1 million limit balances NRI needs with India's foreign exchange stability.

Common scenario where this bites you: You invested ₹10 lakh in mutual funds through NRO. Over 15 years, it grew to ₹80 lakh. You also have rental property generating ₹30 lakh/year.

You want to repatriate everything in one year. Problem:

  • ₹80 lakh mutual fund redemption = ~$960,000
  • ₹30 lakh rental income = ~$360,000
  • Total = $1,320,000

You've exceeded the $1 million limit. You'll need to spread repatriation over 2 financial years.

What Happens If You Exceed the Limit?

FEMA allows repatriation beyond $1 million only with special RBI approval, granted in exceptional circumstances (inherited property, retirement proceeds, etc.). Approval takes months and isn't guaranteed.

Most NRIs simply wait until the next financial year to repatriate the balance.

👉 Tip: If you're accumulating large wealth through NRO investments, start repatriating early (over multiple years) rather than waiting until you need it all at once. This avoids hitting the annual limit.

FEMA-Restricted Investments (What You Cannot Put in Mutual Funds)

While FEMA generally permits NRI mutual fund investments, there are specific restrictions on:

  1. Which mutual funds you can invest in
  2. Which investments you cannot make at all

Mutual Funds You CAN Invest In (Under FEMA)

NRIs are allowed to invest in most Indian mutual funds:

  • Equity mutual funds
  • Debt mutual funds
  • Hybrid mutual funds
  • ELSS (tax-saving funds)
  • Index funds
  • Sectoral/thematic funds

FEMA doesn't restrict which specific mutual fund schemes you choose, as long as the Asset Management Company (AMC) accepts NRI investors.

However: Some AMCs restrict US/Canada-based NRIs due to FATCA compliance burdens. Check with the AMC before investing.

Also Read - RBI's New Rules for Investment - What Every NRI Must Know

Investments Prohibited Under FEMA

FEMA specifically prohibits NRIs from investing in:

  • Public Provident Fund (PPF) – You cannot open a new PPF account as an NRI. If you had one as a resident, you can continue until maturity but cannot extend beyond 15 years. Additionally, from October 2024, any irregularly extended PPF accounts held by NRIs will stop earning interest. (source)
  • National Savings Certificates (NSC)
  • Kisan Vikas Patra (KVP)
  • Post Office savings schemes (except Post Office FDs)
  • Agricultural land, plantations, farmhouses – You cannot buy these (though you can inherit them)

Why FEMA restricts these: These are typically government-backed small savings schemes meant for resident Indians. They offer special tax benefits (like PPF's tax-free withdrawals under Section 80C) that FEMA doesn't want extended to non-residents.

What this means for your portfolio: If you held PPF or NSC before becoming an NRI, you must let them mature and then reinvest elsewhere. You cannot contribute further or open new accounts.

Many NRIs ask: "Can I invest in ELSS to get Section 80C benefits?" Yes, you can - ELSS is a mutual fund, and FEMA permits it. However, you can only claim Section 80C deduction if you have taxable income in India. If all your income is foreign and you're an NRI with zero Indian income, the deduction won't apply.

Real Estate and Other Asset Classes Under FEMA

Beyond mutual funds, here's what FEMA says about other investments:

Allowed:

  • Residential and commercial property (you can buy apartments, offices, shops)
  • Direct equity (stocks through PIS - Portfolio Investment Scheme)
  • Corporate bonds and debentures
  • Government securities
  • GIFT City investments (this is an offshore financial center within India - special FEMA provisions apply)

Not allowed:

  • Agricultural land
  • Plantations
  • Farmhouses

These restrictions help NRIs understand the full investment landscape under FEMA. For our purpose - mutual funds - there's no specific restriction beyond the account type and repatriation rules we've covered.

KYC and FEMA Compliance: The Paperwork You Must Complete

FEMA mandates that NRIs update their KYC (Know Your Customer) details when their residential status changes. This isn't optional - it's a compliance requirement.

Here's what you must do:

Step 1: Update KYC Status from "Resident" to "NRI"

Your KYC is centralized across all mutual funds in India through KRAs (KYC Registration Agencies) like CAMS and KFintech.

When you become an NRI:

  1. Log in to CAMS KRA or KFintech KRA
  2. Submit updated documents:
  • Copy of passport (pages with name, photo, address, visa stamps)
  • Visa or work permit from your resident country
  • Foreign address proof (utility bill, tenancy contract, bank statement)
  • PAN card
  • Overseas bank account statement
  1. Complete in-person verification (IPV):
  • Visit an Indian Embassy/Consulate in your country, OR
  • Submit notarized/apostilled documents

Once you update KYC with one AMC, it automatically reflects across all mutual funds you hold. Processing takes 2-4 weeks.

Step 2: File FATCA/CRS Declaration

FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) are international tax compliance frameworks. India has signed agreements to share financial information with 100+ countries.

When investing in mutual funds, you must declare:

  • Your country of tax residence
  • Tax Identification Number (TIN) in your resident country
  • Whether you're a US person (if yes, special rules apply)

AMCs use this information to report your holdings to Indian tax authorities, who share it with your home country.

FEMA requires this. Without FATCA/CRS declaration, AMCs cannot accept your investment.

Once you convert your bank account to NRE or NRO, you must update this linkage with every mutual fund folio.

Most AMCs allow online account updates:

  1. Log in to the AMC website or platform (Kuvera, Zerodha Coin, Groww)
  2. Go to "Profile" → "Bank Account Details"
  3. Add your NRE/NRO account
  4. Complete penny-drop verification (AMC deposits ₹1 to verify ownership)

Your redemptions will now credit to the NRE/NRO account, maintaining FEMA compliance.

👉 Tip: Complete all three steps within 90 days of becoming an NRI. The longer you delay, the higher the risk of non-compliance penalties or frozen transactions.

What Happens If You Violate FEMA (Real Consequences)

FEMA violations aren't theoretical. The Enforcement Directorate (ED) actively monitors and enforces FEMA compliance. Here's what actually happens:

Scenario 1: Operating Resident Account After Becoming NRI

Violation: You moved to Dubai 2 years ago but continued using your HDFC resident savings account for mutual fund investments.

How it's discovered: Banks conduct periodic audits. They flag accounts with foreign address on PAN, visa stamps on documents, or international transaction patterns. If they confirm you're an NRI, they freeze the account.

Penalty:

Real case: An NRI in our community operated a resident account for 18 months after moving to the UK. Bank discovered it during a loan application audit. Total penalty: ₹1.8 lakh + forced account conversion + corrected tax filings.

Scenario 2: Exceeding NRO Repatriation Limit

Violation: You repatriated $1.2 million from NRO account in one financial year (limit is $1 million).

How it's discovered: Banks report all large remittances to RBI. Automated systems flag violations.

Penalty:

  • RBI sends notice asking for explanation
  • If no valid reason (and no RBI approval), you must return the excess amount
  • Penalty of up to 3x the excess amount
  • Future remittances may be blocked pending investigation

Scenario 3: Investing in Prohibited Instruments

Violation: You opened a new PPF account after becoming an NRI.

How it's discovered: Post offices and banks verify residential status before opening PPF. If they miss it, your tax returns may flag the discrepancy.

Penalty:

  • Account closed
  • Refund of principal (but you lose interest and tax benefits)
  • Possible penalty for false declaration

Scenario 4: Not Filing Form 15CA/15CB for Repatriation

Violation: You repatriated ₹20 lakh mutual fund proceeds from NRO without filing Form 15CA/15CB.

How it's discovered: Banks cannot process remittances above ₹5 lakh without these forms. If they did, it's their compliance failure too.

Penalty:

  • Delay in future remittances until forms are filed retroactively
  • Potential penalty for non-compliance
  • Bank may report you to RBI

How to Avoid All These Penalties

The common thread in every violation: people don't know the rules, or they delay compliance hoping no one notices.

FEMA isn't out to get you. It's a regulatory framework. Follow these rules:

  1. Convert resident accounts to NRE/NRO within 6 months of becoming NRI
  2. Update KYC with mutual fund houses
  3. Track repatriation against the $1 million annual limit
  4. File Form 15CA/15CB for all remittances above ₹5 lakh
  5. Don't invest in prohibited instruments
  6. Keep records of everything (account statements, tax filings, remittance forms)

If you've already violated FEMA unknowingly, the best course is voluntary compliance: convert accounts immediately, file corrected documents, and consult a CA or legal advisor. Voluntary disclosure is looked upon more favorably than getting caught during an audit.

👉 Tip: Hire a SEBI-registered investment advisor or cross-border tax consultant when you become an NRI. One consultation (₹5,000-15,000) can save you lakhs in penalties and years of headaches.

FEMA and Tax Treatment: How They Work Together

Many NRIs confuse FEMA with tax law. They're different - but they intersect.

FEMA governs foreign exchange transactions - which accounts you hold, how you move money across borders, repatriation limits.

Income Tax Act governs how you're taxed - on capital gains, interest, dividends, etc.

Both apply to you as an NRI. Here's how they interact for mutual funds:

Capital Gains Tax (Income Tax Act)

When you redeem mutual funds:

TDS (Tax Deducted at Source) is automatically deducted by the AMC. You can claim refunds if you file ITR.

Repatriation and Tax Clearance (FEMA + Tax Law)

When you repatriate mutual fund proceeds from NRO:

  • Income Tax law requires Form 15CA and Form 15CB (CA certificate confirming taxes paid)
  • FEMA requires proof of source of funds
  • Bank verifies both before processing remittance

If taxes weren't paid (or TDS wasn't deducted), the bank won't allow repatriation until you clear tax dues.

DTAA Benefits (Tax Law, But Affects FEMA Repatriation)

India has Double Taxation Avoidance Agreements (DTAA) with 90+ countries. If you're taxed on mutual fund gains in both India and your resident country, you can claim tax credit in one country for taxes paid in the other.

This doesn't change FEMA's repatriation limits, but it affects how much you ultimately keep after taxes.

Example: You redeem ₹10 lakh mutual fund (long-term gains) in India through NRO:

  • India taxes at 12.5% = ₹1.25 lakh TDS deducted
  • Net proceeds: ₹8.75 lakh credited to NRO
  • Under FEMA, you can repatriate this (within $1M limit)
  • In UAE, capital gains aren't taxed, so no further tax due
  • Under India-UAE DTAA, you've paid tax once (in India), no double taxation

Read our guide on how to avoid double taxation on mutual fund gains for detailed steps on claiming DTAA benefits.

NRE vs NRO: Tax Implications

Account Type
Interest Taxable?
Mutual Fund Gains Taxable?
Repatriation Tax?
NRE
No (tax-free)
Yes (same rates as NRO)
No
NRO
Yes (at slab rate)
Yes (same rates as NRE)
No (but need Form 15CB)

The myth: "NRE investments are tax-free." The truth: Only interest on NRE deposits is tax-free. Mutual fund capital gains are taxed identically whether you invested through NRE or NRO.

The advantage of NRE is unlimited repatriation, not tax savings on capital gains.

Also Read - Taxation on Mutual Funds

Recent FEMA Changes (2024-2025) That Affect You

FEMA is a living law - RBI updates it periodically. Here are recent changes relevant to NRI mutual fund investors:

1. Rupee Trade Settlement Mechanism (Jan 2025)

RBI updated FEMA regulations to boost cross-border rupee transactions, making it easier for NRIs to manage Indian finances. This doesn't directly affect mutual funds, but it streamlines NRE/NRO account operations.

2.Updated and Revamped Nomination Rules (January 2025)

SEBI (not FEMA, but compliance requirement) revised and revamped the nomination facilities for all mutual fund and demat accounts effective from March 1, 2025, with phased implementation extended to August 8, 2025 for certain aspects.. (source)

You must add nominees to all folios. Without it, your heirs face lengthy legal processes to claim your investments.

3. Increased Scrutiny on NRO Repatriation (2024)

Banks now require more documentation for NRO repatriation above $100,000:

  • Detailed source of funds
  • Tax compliance certificates
  • Purpose of remittance

This doesn't change the $1 million limit, but it adds paperwork. Banks are being cautious after RBI notices on under-reporting.

4. FATCA/CRS Enforcement Tightened (Ongoing)

AMCs are now required to file NIL returns for NRIs who haven't filed FATCA declarations. This triggers follow-up notices.

If you haven't filed FATCA, expect AMCs to freeze new investments until you comply.

👉 Tip: Subscribe to RBI and SEBI notifications (available on their websites) or join our WhatsApp community where we share regulatory updates as they happen.

Also Read - Types of Mutual Fund

FEMA Compliance Checklist for NRI Mutual Fund Investors

Here's your complete checklist to ensure FEMA compliance:

Within 3 months of becoming NRI:

  • [ ] Convert resident savings account to NRE or NRO
  • [ ] Update KYC status from "Resident" to "NRI" with KRA
  • [ ] File FATCA/CRS declaration
  • [ ] Link NRE/NRO account to all mutual fund folios
  • [ ] Add nominees to all folios

Every time you invest:

  • [ ] Ensure you're using NRE or NRO account (never resident account)
  • [ ] Confirm AMC accepts NRI investors from your country
  • [ ] Check if investment is on repatriable (NRE) or non-repatriable (NRO) basis

Every time you redeem:

  • [ ] Verify redemption credits to NRE/NRO account
  • [ ] Track total repatriation against $1 million annual limit (if NRO)
  • [ ] File Form 15CA/15CB if repatriating above ₹5 lakh from NRO
  • [ ] Keep TDS certificates (Form 26AS) for tax filing

Annually:

  • [ ] File ITR in India if you have taxable income (capital gains, interest, rent)
  • [ ] Update KYC if address/visa/passport changes
  • [ ] Review repatriation needs and plan accordingly

Before returning to India:

  • [ ] Convert NRE/NRO accounts back to resident accounts within 6 months
  • [ ] Update KYC from "NRI" to "Resident"
  • [ ] Understand RNOR status benefits (for 2-3 years before becoming full resident)

Read our detailed guide on what happens when you return to India for more on account conversions.

How GIFT City Investments Simplify FEMA Compliance

If all of this sounds overwhelming - accounts, repatriation limits, Form 15CA/15CB, penalties - there's a simpler alternative: GIFT City investments.

GIFT City (Gujarat International Finance Tec-City) is India's first International Financial Services Centre (IFSC). It operates under special FEMA provisions.

Why GIFT City is simpler for NRIs:

  1. Currency flexibility: Invest in USD, EUR, or GBP - no rupee conversion, no currency risk
  2. Tax-free returns: Interest on GIFT City FDs is 100% tax-free in India
  3. Unlimited repatriation: No $1 million limit - fully repatriable anytime
  4. No Form 15CA/15CB: Since it's an offshore center, repatriation is straightforward
  5. No resident account issues: You can maintain GIFT City accounts even after returning to India

At Belong, we offer GIFT City USD fixed deposits with up to 5.5% returns, tax-free, fully repatriable, with digital account opening from anywhere.

Think of GIFT City as the "NRI-friendly" version of Indian investments - designed with FEMA compliance built-in.

Compare GIFT City FDs with regular NRE/NRO fixed deposits to see the difference.

Common FEMA Myths (And the Real Facts)

Over the years at Belong, I've heard these myths repeatedly. Let's clear them up:

Myth 1: "FEMA only matters for large transactions." Reality: FEMA governs everything - even ₹100 transfers. A ₹10,000 SIP through a resident account is still a violation.

Myth 2: "Banks will handle FEMA compliance for me."

Reality: Banks follow FEMA, but you are responsible for compliance. If you provide wrong information or use wrong accounts, you're liable - not the bank.

Myth 3: "I can keep using my resident account if I visit India frequently."

Reality: Your residential status is determined by days spent in India per financial year, not how often you visit. If you're an NRI under tax law, you must use NRE/NRO accounts - no exceptions.

Myth 4: "NRE investments are completely tax-free."

Reality: Only interest on NRE deposits is tax-free. Capital gains from mutual funds, stocks, property are taxed identically whether you invested through NRE or NRO.

Myth 5: "FEMA violations are minor - just a warning."

Reality: Penalties start at ₹2 lakh and can go up to 3x the transaction amount. Accounts can be frozen. In severe cases, arrest warrants can be issued. It's a serious law.

Myth 6: "I can invest anywhere in India as an NRI."

Reality: Several investments are prohibited - PPF, NSC, agricultural land. Check FEMA guidelines before investing.

👉 Tip: If someone (even a banker or investment advisor) tells you to ignore FEMA rules, walk away. Compliance is non-negotiable.

Also Read - How to Repatriate Mutual Fund Proceeds to Your Country

When to Consult a Professional

FEMA is complex. You don't need to become an expert - but you do need to know when to get help.

Consult a CA or FEMA advisor if:

  • You're becoming an NRI and have multiple resident accounts, properties, or investments
  • You've violated FEMA unknowingly and need to correct it
  • You're planning large repatriations (above $500,000) from NRO
  • You're buying/selling property in India
  • You received a notice from ED (Enforcement Directorate) or RBI
  • You're returning to India and need to restructure all accounts

Cost: ₹5,000-25,000 for initial consultation and compliance setup. It's a small price compared to potential penalties.

Where to find advisors:

  • SEBI-registered investment advisors (like us at Belong)
  • Chartered Accountants specializing in NRI taxation and FEMA
  • Law firms with FEMA compliance practices

At Belong, our team has helped thousands of NRIs navigate FEMA compliance while setting up investments. We don't just sell products - we educate and guide you through the regulatory landscape.

Final Thoughts: FEMA Is Your Friend, Not Your Enemy

I know FEMA can feel like bureaucratic red tape. Rules, forms, penalties - it's a lot.

But here's how I think about it: FEMA exists to protect India's foreign exchange reserves and prevent illegal money movement. It's not designed to punish honest NRIs trying to invest wisely.

Every rule has a reason:

  • Account types → Different tax and repatriation treatment
  • Repatriation limits → Prevents sudden capital flight
  • KYC updates → Ensures accurate reporting and taxation
  • Prohibited investments → Reserves certain benefits for residents

When you follow FEMA, you're not just avoiding penalties - you're ensuring your investments are safe, legal, and fully yours. You'll never wake up to a frozen account or a notice from the Enforcement Directorate.

At Belong, we've built our platform to simplify all of this. GIFT City investments operate under special FEMA provisions that eliminate most compliance headaches. Our tools help you compare NRE and NRO FDs, understand tax implications, and make informed decisions.

But more than products, we're a community. Over 4,000 NRIs in our WhatsApp groups discuss real FEMA questions every day - "Which account should I use?" "How do I repatriate from NRO?" "I got a notice, what should I do?"

You don't have to figure this out alone.

Join our WhatsApp community where NRIs share experiences, strategies, and solutions: Join Belong's WhatsApp Community

Download the Belong app to explore FEMA-compliant investment options, track your portfolio, and access resources built specifically for NRIs: Download App

FEMA compliance isn't hard once you understand it. And understanding it means your investments grow safely, legally, and without stress - exactly the way it should be.

Also Read - How NRIs Can Invest in Mutual Funds from Abroad

Sources: