PMS / AIF

Eligibility: Permitted under FEMA Schedule 4; investment via NRE/NRO bank accounts

Account Type: NRO (Non-Repatriable) for PMS / NRE/NRO for AIF (as per scheme)

Product Access: SEBI-registered PMS and AIF Category I, II, III (based on AMC policy)

Taxation: Capital gains taxable in India; TDS applicable with DTAA relief

Repatriation: PMS – Non-repatriable (NRO); AIF – Scheme dependent / IFSC repatriable

Ideal For: HNI NRIs/OCIs seeking actively managed, high-growth portfolios

Eligibility: Investment allowed via SEBI-registered FPI/FVCI or IFSC AIF structures

Account Type: FPI / FVCI / IFSC-based Category I–III AIF account

Product Access: IFSC or SEBI-approved AIFs (private equity, venture, long-short)

Taxation: Tax under FPI/FVCI or IFSC norms; treaty benefits may apply

Repatriation: Fully repatriable via IFSC or FPI accounts

Ideal For: Global investors & institutions seeking alternative India exposure

Eligibility: Permitted under SEBI PMS and AIF regulations

Account Type: Resident individual or corporate PMS/AIF account

Product Access: All SEBI-registered PMS and AIF schemes (Cat I, II, III)

Taxation: As per domestic capital gains; pass-through treatment for AIF Cat I/II

Repatriation: Not applicable

Ideal For: HNIs & professionals seeking long-term alpha and diversification

Eligibility: Permitted via FDI / FVCI / IFSC corporate participation

Account Type: Institutional PMS / AIF account (corporate or trust format)

Product Access: IFSC or SEBI-regulated AIF Category I–III investments

Taxation: Corporate or IFSC-specific tax regime

Repatriation: As per FEMA/IFSC or AIF fund repatriation terms

Ideal For: Family offices, investment firms, and offshore corporates