According to AMFI foregin citizens of Indian origin are not allowed to invest in Indian MFs. But if they come to India and settle down in India; suppose a US citizen of Indian origin returns to India and starts working in India is such a person allowed to invest in Indian Mutual Funds?
Thank you for the response. Where did you check this information? If you don't mind if there is a source on internet for this information? This is very important for me I checked with AMFI association of mutual funds in India and their person said it is not allowed. But if it is then that is great!
Not correct. NRIs and PIO holders can invest in MFs. Its been a while ago, but I had referred to ICICIDirect site, and also RBI site. Also, note that the staff at customer service at various banks and AMCs is usually not very knowledgeable. You can not trust their answers, unless there is a written reference.