• Tax Identification Number for FATCA declaration (Asked by Mutual Fund AMC) for a NRI staying in Dubai

Hi 

I have been residing in Dubai (Indian Citizen) for the last 3 years but invest in Mutual Funds in India through my NRE account.

In the last 1 week, I have received emails from multiple MF AMCs with the following title "CRS (Common Reporting Standards) Declaration - Confirmation & Submission of TIN details"

The Email says the following 
While reviewing your information in our records, we have observed that for your PAN Number – XXXXXXXXX, the country of tax residency declaration is given as other than ‘India’ or ‘USA’, but the valid Tax-payer Identification Number (TIN) has not been provided.

We request you to submit or update fresh FATCA/CRS declaration or valid TIN (as per the structure applicable in your country of tax residency) using the link https://www.camsonline.com/Investors/Service- requests/FATCA&CRS. Alternately, you can send us an email request from your registered email ID to [deleted] mentioning your PAN, country of tax residency and valid TIN details.

As in Dubai, there is no taxation and accordingly no TIN in Dubai. 

I would request for guidance on the below

1. Could you please guide what needs to be done in this case. What should I provide as a TIN number. 
2. Can the TIN be updated via the link provided or do I need to submit a physical form
3. Do I have to update the TIN for each AMC separetely or it could be done centrally for all AMCs
Asked 14 days ago in Income Tax

1. Providing a TIN Number:

Since Dubai does not issue TINs, indicate this in your declaration:


  • Country of Tax Residency: United Arab Emirates (UAE)

  • TIN: Not applicable (UAE does not issue TINs)

2. Updating TIN Information:

Use the provided CAMS link to update your TIN details:

  1. Visit CAMS FATCA/CRS.
  2. Enter your PAN and other details.
  3. Select UAE as your country of tax residency.
  4. Indicate that UAE does not issue TINs.

3. Updating TIN for Multiple AMCs:

If AMCs use CAMS, updating through the CAMS portal should update all associated AMCs. If not, update each AMC separately.

 

For detailed, personalized advice, consider a phone consultancy.

Hope you find the information helpful. You are free to contact me for further discussion.If you could spare two minutes of your time to write a review, It would be really grateful and very happy to read it.

Thank you.

Shubham Goyal

Shubham Goyal
CA, Delhi
238 Answers
4 Consultations

5.0 on 5.0

You can update the TIN via link, but it's more advisable to confirm.with them first by confirming via helpline 

Vidya Jain
CA, Kolkata
1012 Answers
58 Consultations

4.8 on 5.0

In case of Dubai you can mention your passport number or mention Nil if allowed in the form as UAE does not have individual TIN number.

TIN should be mentioned to each AMC or if you have a portfolio manager you can mention him and he can update later.

 

Hope you find the information helpful, if yes do rate if 5 and provide your valuable feedback for my improvement.

Thank you.

Naman Maloo
CA, Jaipur
4280 Answers
98 Consultations

5.0 on 5.0

1. Mention your Dubai Address and residential status for tax purpose. In case of TIN, provide "TIN not issued"

2. You can send through email

3. Update info at point 1 for each AMC

 

For detailed discussion you may opt for phone consultation

 

 

Vivek Kumar Arora
CA, Delhi
4863 Answers
1052 Consultations

5.0 on 5.0

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