GIFT City Funds for UAE NRIs: How to Invest from Dubai and Abu Dhabi (2026)

By Anup Vatyani, AMFI-registered Mutual Fund Distributor (ARN 106715)
Last reviewed October 2026

The short answer. NRIs living in the UAE can invest in GIFT City funds directly in US Dollars from a UAE bank account, with no LRS and no TCS. The dirham is pegged to the dollar and the UAE does not levy personal income tax on individuals' investment income, so the India-side rules decide most of the outcome. The one rule to watch is India's deemed-resident test for people with large Indian income.

UAE NRIs and GIFT City: key facts

How to invest in GIFT City from the UAE

Which GIFT City funds accept NRIs in the UAE?

Based on each fund house's published eligibility, checked 24 October 2026. Offer documents can add conditions, and most exclude sanctioned or FATF-listed countries, so confirm with the fund house before you apply. Listing is not a recommendation.

None of the fund houses we track publishes an exclusion for UAE residents.

Lower minimums (USD 500 to USD 10,000)

• ABSL India Growth Fund (Aditya Birla Sun Life, inbound): USD 500, then multiples of USD 100.
• Edelweiss Greater China Equity Fund (Edelweiss, outbound): USD 5,000; top-ups USD 500.
• Edelweiss US Technology Equity Fund (Edelweiss, outbound): USD 5,000; top-ups USD 500.
• Marcellus Global Equities Fund (Marcellus, outbound): USD 5,000; top-ups USD 2,000.
• Parag Parikh India Flexi Cap Fund (listed as coming soon) (PPFAS (Parag Parikh), inbound): USD 10,000; top-ups USD 1,000.
• Sundaram India Mid Cap GIFT (Sundaram, inbound): USD 5,000.
• Tata India Dynamic Equity Fund (Tata, inbound): USD 500.

AIFs and restricted funds (higher minimums)

• Bandhan India Large and Mid-cap Fund, India Small Cap Fund and India Government Securities Fund (IFSC) (Bandhan): Not published; ask the fund house.
• HDFC India Flexi Cap, Balanced Advantage, Midcap Opportunities, Small Cap, NIFTY 50 and Diversified Equity FOF (HDFC): Above USD 150,000 (Class A) or above USD 50,000 (Class AR, not for US or UK investors).
• Mirae Asset Global Advantage Fund (Mirae Asset): USD 151,000; USD 25,000 for accredited investors.
• Motilal Oswal GIFT City India Equity Fund of Funds (Motilal Oswal): USD 150,000.
• Nippon India Large Cap Fund GIFT (Nippon India): USD 150,000.
• Phillip India Billion Opportunities Fund (Phillip Capital): Not published; ask the manager.
• The Wealth Company IFSC FoF (The Wealth Company): Not published; ask the fund house.
• Rangoli India Fund (Unifi Capital): Not published; ask the manager.

Full details, minimums and sources: GIFT City fund list.

How UAE taxes GIFT City funds

• The UAE does not levy personal income tax on individuals' investment income, so gains and income from a GIFT City fund are generally not taxed in the UAE when you hold them personally.
• UAE corporate tax, introduced in 2023, is aimed at businesses. If you invest through a company or as part of a business, take advice.
• India and the UAE have a tax treaty. To rely on it you usually need a UAE Tax Residency Certificate from the Federal Tax Authority.

Getting a UAE Tax Residency Certificate

Individuals apply through the FTA's EmaraTax portal once they meet the residency criteria: for example, 183 days or more in the UAE, or 90 to 182 days with UAE employment, business or a permanent home. The FTA lists an Emirates ID or passport with an entry and exit report among the documents, and charges a fee.

The deemed-resident rule for UAE NRIs

Under Section 6(1A) of India's Income-tax Act, an Indian citizen whose income other than foreign-source income exceeds ₹15 lakh is deemed resident in India if they are not liable to tax in any other country because of domicile or residence. Because the UAE has no personal income tax, UAE-based NRIs with substantial Indian income should check this every year. Deemed residents are treated as Resident but Not Ordinarily Resident (RNOR).

Indian tax for NRIs in the UAE

Many GIFT City funds are structured so that non-resident investors bear little or no Indian tax, with tax handled at the fund level; the treatment depends on the fund, so ask for it in writing. Your Indian residential status decides the rest: you are generally non-resident if you spend fewer than 182 days in India in the financial year, but a 120-day test applies if your Indian income exceeds ₹15 lakh. See GIFT City taxation.

Documents NRIs in the UAE are usually asked for

• Passport (and OCI card if you are not an Indian citizen)
• UAE residence visa or Emirates ID
• UAE address proof, such as a tenancy contract (Ejari) or utility bill
• PAN, if you have one; some funds ask for it
• UAE Tax Residency Certificate, if you want to rely on the India–UAE treaty
• FATCA and CRS self-certification

Build your own list with the document checklist.

Sending money from the UAE

Transfer US Dollars from your UAE bank account to the fund's subscription account, or ask your bank to convert dirhams. Because the dirham is pegged, there is little AED/USD currency risk; the risk is in the fund's own markets and, for inbound funds, the rupee against the dollar. Redemptions are paid in US Dollars back to an account outside India. Compare with keeping money in an NRE or FCNR deposit.

Other countries

Guides for the UAE, the UK, the US, Singapore and Canada, and the Gulf and Australia on the main GIFT City for NRIs page.

Common questions

This page is educational and is not investment, tax or legal advice. Figures and rules are as understood at the date shown and can change; check the official sources and the scheme's offer documents. Investments are subject to market risks; read all scheme-related documents carefully.