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

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

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 8 months 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:

Visit CAMS FATCA/CRS.

Enter your PAN and other details.

Select UAE as your country of tax residency.

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