On October 15, Apple shares jumped to a record value of $237.49 that took its market cap to $3.6 trillion, which is equal to India’s FY24 GDP and 85% of that of Japan.
For anyone in India, there is more than one way to invest in shares of Apple or any other company listed in the US. (Picture Credit: depositphotos)
Apple (AAPL) continues to grab headlines not with its products alone but also with its stock prices. Though it settled at slightly lower levels, its shares touched an intraday high of $237.49 on October 15 and experts think it will rise by 8% in the next 12 months.
Do you want to invest in this California-based company which has become the most valuable firm globally? It is possible even while sitting in India. There is more than one way of doing it. Let’s find out.
Invest directly in Apple shares
In this age of digital investing, the most convenient way is to invest through an app. One can open international trading accounts with apps only after verifying their bona fide. First the KYC has to be furnished. Only after verifying KYC details can one invest in the shares. The costs are low and most of these apps claim to have advanced security features. Such apps say after opening the account buying shares consists of only 4 easy steps. International trading accounts can be opened with both Indian brokers and/or international brokers that operate in India.
Invest through mutual funds
One can also invest indirectly in Apple shares (or any other shares listed on US bourses) through mutual funds. This category of mutual funds invest in stocks that are listed abroad. AMCs such as Motilal Oswal, Aditya Birla Sun Life and DSP Blackrock have mutual fund schemes that invest in international stocks. Other AMCs are ICICI Pru, Kotak, SBI Mutual Fund, Nippon India, Edelweiss etc.
Buy fractional shares of Apple
Unlike India, one can buy fractional shares of Apple, or for that matter any other company listed in the US. The immediate implication is that one does not need deep pockets to buy a minimum number of shares etc. Fractional shares cannot be traded in India.
Documents required
Please note that the documents one needs for investing in shares of companies listed abroad are those related to proof of identity such as passport, Aadhaar, PAN and proof of address such as Aadhaar, voter card etc.
Also remember that according to Reserve Bank of India (RBI) Liberalised Remittance Scheme rules, one can invest a maximum amount of $250,000 in one financial year.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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