Q&A: can a home maker invest directly in gold traded funds or ...

Question by : can a home maker invest directly in gold traded funds or should she be only a nominee of some investor?

My friend is a home maker. She doesnt have any other investment other than her savings. She wants to invest in gold traded funds. Someone has suggested that she can invest only as a nominee to an investor who has regular income. Is that true or can she herself invest directly? If she can invest directly what are all the pre requisites?.

Best answer:

In India, anyone above 21 who is not of unsound mind can invest. The prerequisites are
(1) PAN number (and PAN card).
(2) A bank account ? where the homemaker can be joint holder also (but not as a nominee).
(3) Address proof (PAN card).

For your information these are the KYC (Know your customer) norms insisted by the government to avoid bogus investors.

With the above information, approach any online broker and get started,

What do you think? Answer below!

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