Everything you need to know about investing in India as a Canadian NRI

For years now, NRIs from Canada have believed that it is somewhat challenging to keep their money in India, with respect to investments. However, when it comes to helping Canadian NRIs build investments in India, HDFC Bank has always been amongst the front-runners. There are numerous viable investment options available for Canadian NRIs.

But before you start investing, you must register for an NRE or NRO savings account with HDFC Bank. These accounts help you transfer foreign earnings to Indian accounts in Indian currency. They also allow you to earn and manage your income from Indian investments. 

Below are a few ways you can invest your money in India:-

Mutual Funds

The first step in applying for a mutual fund is to be KYC compliant. This process helps establish your identity. The documents required include proof of identity and address, along with a FATCA (Foreign Account Tax Compliant Act) confirmation. Mutual funds are a beneficial tool for investment as they help diversify your investments and risks in an otherwise dynamic financial market.

Not every Asset Management Company (AMC) supports investments from a Canadian NRI. HDFC Bank has simplified the procedure of applying for mutual funds. You can even apply online to get started in no time at all. The NRE and NRO accounts can be used to disburse funds and receive interest and dividends.

Offshore Investments

HDFC Bank understands your need to diversify your investments across currencies and geographies. To create superior investment solutions, HDFC Bank has partnered with Indian and global AMCs to provide Canadian NRIs with the best options. These investments can be carried out in any asset class ranging from equity, fixed income bonds to commodities. HDFC Bank's offshore investment options can help balance out your risk-return profile and at the same time, open up new horizons without limiting the scope of investments. 

Real Estate

As more people acknowledge real estate as a viable long-term investment option, investing in an Indian residential project has become popular. If you are worried about the leg work or the hassle of the process, HDFC Bank has a simplified home loan application process. You can choose a co-applicant for the home loan or hand over the POA to someone known to you. 

Fixed Deposits

If you are the kind of NRI investor who does not like to indulge in risks and is looking for a safe investment option, then HDFC Bank's NRE and NRO fixed deposits are ideal choices. These allow you to deposit money in Indian Rupees and choose a joint holder (NRI or Indian). The tenure range varies from a minimum of 7 days (NRO) and 1 year (NRE) to a maximum of 10 years. You can also put your funds in these accounts in case you are still deciding on your investment options. 

Foreign Currency Deposits

If you wish to avoid foreign exchange rate risks, HDFC Bank provides you with a way of keeping your Canadian dollars safe - Foreign Currency Non-Resident Deposits. The principal and interest are fully repatriable, and you can hold it jointly with another NRI if you wish. Moreover, the deposit is tax exempted. 

Apart from the investment options provided above, HDFC Bank can also assist you in wiring your money through a telegraphic transfer or via travellers’ cheques. With a global reach, HDFC Bank utilises its network to work out the best of services and products for investors based out of Canada and other countries and assists you in making the correct investment decisions with ease. HDFC Bank understands your world, after all!

Looking to invest in India? Click here to begin your investment journey!

You can also read more on what you must know as an NRI about investing in India’s real estate market.