ICARUS WEALTH
Frequently Asked
Questions
Clear answers to the most common questions
our investors ask.
Yes - fully. We are registered and regulated in New Zealand under registration
number FSP1007238, overseen by the Financial Markets Authority (FMA). You can
verify this on the FMA's public register at any time.
Your money is never held by Icarus Wealth directly. All investments are held in
safekeeping
by Axis Bank (our Indian custodian bank) and sit within a framework overseen by
India's
financial regulator, SEBI. So even if Icarus Wealth were to close tomorrow, your
investments
stay safe - they simply stay with the custodian. If you ever have concerns about
how your
investments are being managed, you can contact SEBI directly here.
Start with us - email complaints@icaruswealth.co.nz
and we
will work to resolve your concern promptly. If you are not satisfied with our
response, you
can escalate to the Insurance and Financial Services Ombudsman (IFSO), an
independent body
that handles disputes at no cost to you.
Many advisors in India earn commissions from the products they recommend, which
can create a bias toward certain funds - not necessarily the best ones for you.
We earn a flat 1% brokerage on trades only. We have no financial reason to
recommend one fund over another.
Having your investment spread across two regulatory environments actually adds a
layer of protection - you're not relying on just one system. You also benefit
from being part of India's economic growth while keeping your financial base in
New Zealand. Both countries have robust regulatory oversight that applies to
your investment.
No. Your money sits in a dedicated client trust account and your investments are
held by Axis Bank as custodian. We are simply your representative - we cannot
move, access, or use your funds. Think of us like a post office: we facilitate
the delivery, but we never open the package.
No. Every transaction requires your instruction. Any unauthorised trading would
be a serious breach of our regulatory obligations and would put our licence at
risk - something we would never do.
Two layers of protection: First, Axis Bank as custodian has strict controls over
all transactions. Second, we report regularly to SEBI, which independently
monitors activity. These checks happen continuously, not just when something
looks wrong.
Your investments are held by Axis Bank, not by us - so they are not affected by
what happens to our business. If we ever closed, you could either appoint
another SEBI-registered provider to manage your investments, or choose to cash
them out. Your money is always yours.
We charge a 1% brokerage fee on each trade we make on your behalf. That's it. We
do not receive any payments, commissions, or incentives from any fund managers -
directly or indirectly.
No. Our recommendations are based purely on a fund's track record and
performance. We have nothing to gain by steering you toward one particular fund.
Under FMA rules, we are required to disclose any commissions or payments we
receive from third parties. Since we receive none, there's nothing to disclose.
If that ever changed, you would be the first to know.
Yes, 100%. Our structure is designed to comply with both New Zealand's financial
services regulations (overseen by the FMA) and India's investment regulations
(overseen by SEBI). We don't operate in grey areas.
Yes. You can redeem your investments and transfer funds back to New Zealand.
This is a standard process and there are no restrictions on bringing your money
home under normal circumstances.
In some cases, yes - but these have typically involved investors who set up
their investments independently in India before moving to New Zealand, without
proper cross-border structuring in place. Our setup is specifically designed to
avoid these issues, with clear repatriation pathways built in from day one.
Regulatory changes do happen, but they almost always include a transition period
that gives existing investors time to adjust. We actively monitor both markets
and will guide you through any changes that may affect your investments.
Generally, no - as long as you're aware of the rules upfront. If your total
overseas investments are under NZ$50,000, you're unlikely to face any special
tax treatment. Above that threshold, a tax framework called FIF (Foreign
Investment Fund) applies, which sets a standard method for calculating your tax
on overseas investments. Any tax you've already paid in India can usually be
offset against what you owe in New Zealand, so you're not taxed twice.
FIF tax is a way the New Zealand government taxes returns from overseas
investments. Rather than taxing your actual gains, it applies a deemed rate of
return. The impact on your overall returns depends on the size of your
investment and your tax rate. For a fuller explanation, have a read of our blog
or speak with your accountant.
The main thing is to declare your overseas investments in your annual tax
return. It sounds straightforward - and it is, once you know what to include. We
provide all the reports you need to make this easy.
Tax filing is your accountant's responsibility, but we make it easy by providing
all the reports they'll need - transaction records, portfolio summaries, and
annual tax statements. Think of us as your data provider, and your accountant as
the one who does the filing.
For most people, the sign-up process takes around 10 minutes. In some cases - if
your ID documents can't be instantly verified against New Zealand records - it
may take a few hours longer. We'll keep you updated if there's any delay.
Occasionally, identity documents can't be instantly matched to New Zealand data
records - for example, if you've recently moved here or your documents are in a
different format. In those cases, we do a manual verification, which usually
takes a few hours. It's not common, but it does happen.
India is one of the fastest-growing major economies in the world, and many
analysts believe this trajectory will continue for decades. A global fund gives
you broad exposure, but typically a small allocation to India. Investing
directly in Indian funds lets you back that growth story more specifically. Of
course, this comes with its own risks - see below.
No market goes up in a straight line - that's normal. The way to manage this is
through regular, spread-out contributions rather than putting everything in at
once. This approach (sometimes called dollar-cost averaging) means you buy more
when prices are lower and less when they're higher, which smooths out the impact
of market swings over time.
Mutual funds are generally less volatile than investing in individual company
shares, because your money is spread across many companies at once. That said,
all investments go up and down in value, and Indian markets can be influenced by
local economic and political events. You should be comfortable with some
short-term ups and downs if you're investing for the long term.
It matters quite a bit. Your investments are made in Indian Rupees, but your
returns are measured in NZ Dollars. If the Rupee weakens against the NZ Dollar,
your returns in NZD will be lower - even if the fund itself performed well.
Conversely, if the Rupee strengthens, your NZD returns are boosted. Currency
movements can work for you or against you, and it's one of the key risks to
factor into your thinking.
Like all investments, the value of your portfolio can go down. In a severe or
prolonged market downturn, you could get back less than you put in. We're not
here to paint an overly rosy picture - please read the relevant product
disclosure documents before investing, and only invest money you won't need in
the short term.
All your investment statements and reports are available through your Icarus
Wealth account. Because we act as your representative to the fund managers and
Axis Bank (your custodian), statements are issued in our name on your behalf.
You have full access to all your records and can use them to verify your
holdings independently at any time.
Not directly - because we handle the relationship with fund managers and Axis
Bank on your behalf, statements are consolidated through us. However, everything
is available in your account, and we send regular reports so you always have a
clear picture of your portfolio.
You'll receive: a confirmation note for every buy or sell transaction, a monthly
portfolio summary, and an annual tax report. You can also log into your account
to check your portfolio at any time.
Yes. All the reports and transaction records you need are available in your
account. Your accountant or a trusted adviser can review these on your behalf
too.
No. Everything related to your account - your transactions, portfolio value,
reports, and statements - is visible to you. We don't hold back any information
that affects your investments.
No. We are an investment platform, not a financial adviser. We don't provide
personalised financial advice. What we do is give you access to Indian mutual
funds, handle all the paperwork and administration, and show you clear, unbiased
performance data so you can make your own informed decisions.
You're getting a simple, compliant, and transparent way to invest in India from
New Zealand - without the complexity of opening overseas bank accounts,
navigating foreign paperwork, or trying to figure out which funds to trust. We
handle the infrastructure; you make the decisions.
We are responsible for everything from the moment you sign up until the day you
choose to leave - account setup, executing your investment instructions,
providing reports, and keeping your information up to date. Investment
decisions, tax filing, and financial planning remain your responsibility (with
support from your own advisers if needed).
You do. Always. We carry out your instructions. We never move, invest, or change
anything in your account without your explicit approval.
Nothing - and we mean that genuinely. We're not here to pressure you. Take your
time, ask more questions, read through the documents, and talk to people you
trust. If and when you feel ready, we'll be here. We'd rather have investors who
are confident and informed than ones who signed up because they felt pushed.
WHY INVESTORS CHOOSE
Icarus Wealth
Seamless
Access to India's Market
Beginner-Friendly
Start with just $100.
Complete Transparency
Track performance with live dashboards
Best Exchange Rates
Get more value on every transfer.
Still have questions?
Book a free call with our team and get personalised answers.