How can a grandparent start an SIP for American grandson?
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By ET Online |
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Can an Indian grandparent start an SIP for his minor American grandson?
-- Madhu B Sheth
Dinesh Rohira, Founder & CEO, 5nance.com, responds:
An Indian grandparent can start an SIP for his minor American grandson on the basis of ‘person of Indian origin’. However, the important thing to note is that only a few mutual fund houses like Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, etc, allow such investments. These fund houses allow you to start an SIP for a person of Indian origin.
-- Madhu B Sheth
Dinesh Rohira, Founder & CEO, 5nance.com, responds:
An Indian grandparent can start an SIP for his minor American grandson on the basis of ‘person of Indian origin’. However, the important thing to note is that only a few mutual fund houses like Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, etc, allow such investments. These fund houses allow you to start an SIP for a person of Indian origin.
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