USD Investments
Explore products that offer USD-denominated exposure for eligible investors.
Discuss with usNRI
A plain-English guide to how Non-Resident Indians can invest in Indian mutual funds — covering NRE/NRO account routes, repatriation basics, and general tax considerations. This page is educational and does not constitute tax or investment advice; please consult a qualified advisor for your specific situation.
NRE Route
Investments made through an NRE account are generally fully repatriable, subject to applicable regulations.
NRO Route
Used for income earned in India; repatriation is subject to limits and applicable tax clearance.
GIFT City
An emerging route for NRIs to access India-linked investment products through India's international financial services centre.
Invest Globally Through GIFT City
Understand international investment opportunities through India’s International Financial Services Centre.
International Diversification
Understand how global exposure can balance domestic equity risk.
Discuss with usIFSCA Framework
Learn about the regulatory ecosystem governing offshore and IFSC structures.
Discuss with usNRI Solutions
Explore tailored structures designed specifically for Non-Resident Indians.
Discuss with usTax Considerations
Tax treatment depends on residency, product structure and current laws.
Discuss with usHow to Start
Understand eligibility requirements, documentation, and product availability.
Discuss with us
GIFT City IFSC · For NRIs, OCIs & Global Indian Families
Invest in India's unstoppable growth. Completely in US Dollars.
Access tax-efficient, dollar-denominated Indian equities, private equity, fixed deposits and wealth solutions through GIFT City IFSC — without currency risk or repatriation friction.
🛡️ 0% STT / CTT
💵 100% Repatriation
🏛️ Regulated by IFSCA
⏱ 22-Hour Trading Window
Invest. Grow. Prosper.
USD-denominated portfolio, zero conversion loss
10-Yr Tax Holiday
Zero FX Loss
IFSCA Regulated
💹 $100B+ annual trade turnover on GIFT exchanges
🏝️ 10 out of 15 years corporate tax holiday
🕑 22 hours/day trading across US, EU & Asian sessions
🚫 0% STT · CTT · GST on offshore management fees
💸 100% unrestricted capital & profit repatriation
💹 $100B+ annual trade turnover on GIFT exchanges
🏝️ 10 out of 15 years corporate tax holiday
🕑 22 hours/day trading across US, EU & Asian sessions
🚫 0% STT · CTT · GST on offshore management fees
💸 100% unrestricted capital & profit repatriation
The Value Proposition
Why global Indians are choosing GIFT City IFSC
For decades, NRIs faced two hurdles investing in India: currency conversion losses and complex tax compliance. GIFT City removes both — invest, earn and repatriate, entirely in the currency you already hold.
Friction & leakage
🌍 Traditional NRO Route
💵
Foreign Currency→
₹
INR Conversion→
📈
Indian Market→
💱
USD Conversion
Zero conversion loss
🏙️ GIFT City IFSC Route
💵
Foreign Currency→
🏛️
USD Investment→
💵
USD Returns→
🏦
Direct RepatriationMainland India (NRO)
The traditional route
- × USD 1 Million/year repatriation limit under LRS
- × Full STT, CTT & capital gains tax applicable
- × 18% GST on fund/portfolio management fees
- × Currency conversion friction on both legs
Other Offshore Hubs
Singapore, Dubai, Mauritius
- – No direct India-native growth exposure
- – Multiple regulators & cross-border compliance
- – Competitive tax treatment, but no India-specific holiday
- – Higher account minimums at private banks
RECOMMENDED
GIFT City IFSC
India's international finance hub
- ✓ 100% unrestricted capital & gains repatriation
- ✓ 0% STT, CTT, and GST on offshore management fees
- ✓ Single regulator (IFSCA) covering banking, funds, insurance
- ✓ Direct USD investment — zero conversion loss
Investment Styles
Six ways to deploy dollar capital in India
From capital preservation to venture-stage growth — pick the vehicle that matches your goals, timeline and commitment size.
💵 Min. USD 5,000 – 25,000
Foreign Currency Fixed Deposits & Offshore Banking
Earn attractive yields on USD, EUR, GBP, JPY, AUD, CAD, SGD or AED deposits, held with IFSC Banking Units (IBUs) of SBI, HDFC, ICICI, HSBC and Standard Chartered — with complete protection against rupee depreciation.
📈 Competitive rates vs. Western commercial banks
🛡️ Zero rupee-depreciation exposure
🚫 Interest fully tax-exempt for non-residents
🌱 Also covers Green & Masala Bonds for fixed coupons
Best for: Conservative depositors seeking higher tax-free USD/EUR yields than home-country bank deposits.
8 Currencies
USD · EUR · GBP · JPY · AUD · CAD · SGD · AED
0%
Tax on interest for NRIs
5 Banks
SBI · HDFC · ICICI · HSBC · StanChart IBUs
💵 Min. USD 150,000 · 3–7 Year Horizon
Alternative Investment Funds — Category I & II
Participate directly in India's private equity, venture capital, infrastructure and private-credit growth story, managed by top-tier Indian and global fund houses with dollar-denominated reporting.
🚀 Cat I: Early-stage VC, infra, green energy, social ventures
🏗️ Cat II: Growth equity, private credit, real estate
🚫 Tax-exempt distributed interest/income for non-residents
📊 Institution-grade reporting & governance
Best for: Growth-oriented investors wanting direct India private-market exposure without mainland regulatory friction.
$150K
Regulatory minimum ticket size
Cat I / II
Venture, infra & private credit
3–7 Yrs
Typical lock-in horizon
🕑 22-Hour Trading Window
Capital Markets — NSE IX, India INX & AIF Cat III
Trade Index Futures & Options (including GIFT NIFTY), single-stock derivatives, and Unsponsored Depository Receipts on US blue-chips like Apple, Microsoft and Tesla — directly from GIFT City, with zero STT/CTT/stamp duty.
📉 AIF Cat III: long/short, quant & derivative strategies
🌐 UDRs on global blue-chip stocks
🕑 Trade across US, European & Asian sessions
🚫 Zero STT, CTT & stamp duty on exchange trades
Best for: Active traders and liquidity-focused investors wanting market-neutral or directional exposure at global hours.
22 Hrs/Day
Extended global trading window
GIFT NIFTY
Flagship index derivative
0% STT
On all IFSC exchange trades
💵 USD 150K (PMS) · Lower entry for GIFT Mutual Funds
USD-Denominated Mutual Funds & Portfolio Management
Get direct, actively-managed exposure to the top 50 or top 500 Indian companies through USD feeds — with daily/weekly NAV tracking and foreign-currency subscription and redemption.
📊 Active PMS mandates run by seasoned managers
🗂️ Simplified setups — no domestic NRE/NRO or PAN needed in many cases
🔄 Daily/weekly NAV in your chosen foreign currency
📈 Broad or concentrated Indian equity exposure
Best for: Investors who want professionally-managed Indian equity exposure without picking individual stocks.
Top 500
Indian companies, USD-feed access
Daily NAV
Transparent USD pricing
No PAN*
Simplified non-resident onboarding
🌍 Global insurers · USD premiums
USD Life Insurance & Wealth Protection
Secure your family's global future with USD-denominated ULIPs and term plans from HDFC International, Tata AIA International and ICICI Prudential International — premiums and payouts both in foreign currency.
🎓 Fund overseas university education, no currency mismatch
🧭 International estate & legacy planning
💵 Foreign-currency payouts on maturity/claim
🏦 Global life cover alongside ULIP growth component
Best for: Families planning children's foreign education or cross-border estate and legacy transfer.
3 Insurers
HDFC · Tata AIA · ICICI Pru International
USD ULIPs
+ Term life, foreign-currency payouts
Legacy
Cross-border estate planning
💰 Min. net worth USD 10 Million
Family Offices & Family Management Entities (FMEs)
Hold Indian and international assets under one unified structure, with a favourable regime for cross-border wealth transfer, succession planning and estate governance.
🏛️ Unified holding structure for global + Indian assets
👨👩👧👦 Cross-border succession & estate governance
🚫 10-year tax exemption for the management company
🌱 Also access to Green & Masala Bonds for the family's fixed-income sleeve
Best for: Ultra-HNI families seeking multi-asset allocation and formal institutional wealth governance.
$10M+
Net worth for a Single Family Office
10 Yrs
Tax exemption for FME
Unified
Global + India holding structure
Taxation & Regulatory Advantage
GIFT City IFSC vs. Mainland India
A single unified regulator (IFSCA) — combining the roles of RBI, SEBI, IRDAI and PFRDA — makes approvals and onboarding dramatically faster.
| Tax / Rule | Mainland India Route | GIFT City IFSC Route |
|---|---|---|
| Securities Transaction Tax | Applicable (0.01%–0.1%) | Exempt (0%) |
| Commodities Transaction Tax | Applicable | Exempt (0%) |
| GST on Management Fees | 18% GST | Exempt (0% for offshore services) |
| Capital Gains Tax | Short-term 20% · Long-term 12.5% | Exempt on specified securities |
| Corporate Tax on Fund | Standard corporate rates | 100% tax holiday (10 of 15 years) |
| Dividend Withholding | 20% + surcharge | Reduced DTAA concessional rates |
| Repatriation Limits | USD 1M/year (NRO/LRS) | 100% unrestricted repatriation |
| Currency Conversion | Required — INR/USD spread losses | Direct USD — zero conversion loss |
Getting Started
Your 4-step onboarding roadmap
Fully digital, paperless, and built for investors who aren't sitting in India.
Step 1 — Profile Assessment & Vehicle Selection
Determine your investment objective — income preservation, equity growth, or alternative alpha — then select the appropriate vehicle: fixed deposit, AIF (Cat I/II/III), USD ULIP, or direct exchange trading.
Step 2 — Frictionless Digital KYC Registration
Complete paperless, video-KYC-enabled onboarding with these documents:
- 🛂 Valid passport copy (self-attested)
- 🏠 Overseas address proof (utility bill / bank statement / driving licence)
- 📄 Tax Residency Certificate (Form 61B / FATCA details)
- 🪪 PAN card or simplified Form 60 declaration
Step 3 — Opening an IFSC Foreign Currency Account
Open a dedicated foreign-currency account with an IFSC Banking Unit (IBU) in GIFT City. The entire application is online, paperless, and supported by video-KYC.
Step 4 — Fund Transfer & Execution
Remit funds directly from your overseas bank (Chase, HSBC UK, Emirates NBD, etc.) into your GIFT City IBU account in USD/EUR, then authorise allocation into your selected schemes — with real-time portfolio dashboard access and regular statements.
Interactive Calculator
GIFT City vs. Mainland — See the difference
An illustrative estimate of how currency and tax leakage can affect your long-term wealth outcome.
Your inputs
Model your investment
Gross Wealth Growth$0
Mainland Tax & FX Leakage (est.)$0
Mainland Net Maturity Wealth$0
GIFT IFSC Net Maturity Wealth$0
Net Extra Return via GIFT City$0 (0%)
Illustrative estimate only — assumes ~15% combined mainland capital-gains + FX conversion leakage on gains. Actual outcomes depend on your specific tax residency, DTAA treaty and instrument chosen. Not financial or tax advice; please consult a cross-border tax professional.
Not sure where to start?
Find your GIFT City fit in 2 questions
What is your primary investment goal?
What is your planned commitment level?
Your suggested starting point
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FAQs
Frequently asked questions
Do I need a domestic Indian bank account (NRE/NRO) or PAN card to invest? +
No. Investments in GIFT City are made in foreign convertible currencies directly from your overseas bank account into an IFSC Banking Unit. A PAN card simplifies compliance, but simplified identification rules apply for non-residents under IFSCA.
How are my returns protected against currency fluctuation? +
Investments, dividends and capital gains are calculated, held and distributed in US Dollars (or your chosen foreign currency), so you incur zero currency-conversion loss or rupee-depreciation risk.
Can I freely take my money back to my country of residence? +
Yes. Capital and profits invested through GIFT City IFSC are 100% repatriable to your international bank account without any cap — bypassing the mainland NRO USD 1M annual limit.
How does tax treatment work if I reside in the US or UK? +
GIFT City exempts specified transactions from Indian STT, CTT, GST and capital gains tax — but your home-country tax laws still apply to your global income. DTAA credits can often be used. We recommend a cross-border tax advisor.
What is the minimum threshold to invest in GIFT City AIFs? +
The regulatory minimum for an individual investor in a GIFT City Alternative Investment Fund is USD 150,000 (or equivalent in another foreign currency).
Regulatory Disclaimer
This content is provided for informational and educational purposes only and does not constitute financial, investment, or tax advice. Investments in GIFT City IFSC are governed by the International Financial Services Centres Authority (IFSCA) and applicable FEMA regulations.
Risk Disclosure
All investments carry market risk, including possible loss of principal. Past performance is no guarantee of future results. Alternative Investment Funds and equity market instruments involve higher risk profiles and lock-in periods.
Tax Advisory Notice
Tax laws are subject to change and depend on individual investor tax-residency status. Investors are strongly advised to seek independent tax and financial counsel from qualified cross-border tax professionals before investing.