Outbound Funds provide investors with a regulated way to invest in international markets through GIFT City, offering exposure to global companies, sectors, and investment opportunities beyond India while helping diversify their portfolios.

For a Resident Indian remitting up to ₹10 lakh per year — No TCS applies.

For a Resident Indian remitting above ₹10 lakh per year — 20% TCS is collected by the remitting bank under Section 206C(1G) of ITA. This is not a permanent cost — it is claimable as credit when you file your ITR.

For an NRI wiring USD directly from a foreign bank — No TCS, no Indian tax at the point of remittance.

Long-term capital gains (holding period above 24 months) are taxed at 14.95%, while short-term capital gains (holding period up to 24 months) are taxed at rates of up to 42.744% / 39%, depending on the investor's tax status. Dividend and other income distributions from the fund are taxed at 35.88%.

SIP facility is currently not available for GIFT City-based global equity funds; investments can be made through lump-sum subscriptions and additional top-ups.

No, you do not need a Demat account.

As per the offer document, units are held in "inscribed form" — meaning Marcellus maintains a register of unit holders internally. You don't need a Demat account or any depository (CDSL/NSDL) account at all.

Instead, within 5 business days of your investment being accepted, Marcellus sends you a Statement of Account / Unit Certificate to your registered email — this is your proof of ownership. 

The procedure in short:

Submit Application Form (online)

Wire USD to the fund's bank account (wire transfer only — no cheques, no UPI)

KYC documents verified

Units allotted at NAV

Statement of Account sent to your email within 5 business days

PAN Card

Cancelled cheque / Bank statement (latest)

Passport-size Photograph(s)

CKYC Registration

Aadhaar-linked mobile for e-signing documents

LRS Remittance Documents (through bank)

The Net Asset Value of the Fund will be net of fees, expenses and taxes. NAV will be computed on a post-tax basis.  Post-tax NAV refers to the Net Asset Value after considering potential taxes an investor would pay if they sold their fund units, essentially reflecting the true take-home value of their investment, calculated by subtracting estimated capital gain tax from the regular NAV. The post-tax version helps investors see their actual potential profit after tax implications.

Yes — disclosure is required for Resident Indians. NRIs — depends on their residency status. Under Schedule FA (Foreign Assets) — mandatory disclosure of all foreign accounts, investments, interests held outside India and Schedule FSI (Foreign Source Income) — income earned from outside India

Both markets have done well post-Covid. Global markets (especially US) have outperformed in USD terms over 5 years, driven by tech concentration. India has been more consistent and broader-based, but the rupee drag reduces real USD returns. That is exactly why owning both makes sense.

No. Since investors hold units of an India-domiciled fund based in GIFT City rather than directly owning US-listed securities, US Estate Tax is generally not applicable to the investor's holdings in the fund. The units can be transferred to legal heirs as per applicable Indian laws and fund regulations.