INDIRA TRADE

NRI's Services

depitory-services

Non-Resident Indian (NRI) means a “person resident outside India” who is a citizen of India or is a person of Indian origin"[as per FEMA regulations]

How can a NRI invest in Indian equity market
Portfolio Investment Scheme (PIS)

Portfolio Investment Scheme (PIS) is a scheme of reserve bank of India under this scheme NRIs can acquire shares/debentures of Indian company, units of domestic mutual funds through the stock exchange Non Resident Indian (NRIs) can purchase/ sell shares /convertible debentures of Indian companies on Stock Exchanges under Portfolio Investment Scheme. For this purpose, the NRI has to apply designated branch of any authorized bank authorized by reserve bank to administer the PIS (Portfolio Investment Scheme) to open a NRE (Non Resident External) /NRO (Non Resident Ordinary) account under the scheme. All sale/purchase transactions are to be routed through the designated branch.

Total accounts to opened
Bank account with designated bank
Trading account with broker
De mate account with depository
Total documents to be applicable
  • Copy of passport case of Indian passport - Valid passport, Place of birth as India, valid Visa. In case of foreign passport : Valid passport and any of the following place of Birth as India in foreign passport
  • PIS Permission Letter from the respective designated bankwhich is valid for a period of five years from the date of issue. Making a request by means of a simple
  • Proof of residence Driving License/ Foreign passport /Utility Bills etc. Bank statement (not more than 2 months old)/ Notarized copy of rent agreement/ leave & license agreement/ Sale deed.
  • PAN Card
  • Photograph of Investor.
Our Service
  • NRI services desk for personalized assistance to NRI clients
  • Dedicated offline equity dealing desk
  • Online equity trading platforms
  • Depository services
  • 24x7 back office
  • NRI investment advisory desk
  • PMS
  • IPO and mutual funds
  • Banking support
  • Pan Card assistance
Contact us

Email us @: NRIDesk@indiratrade.com
Mobile Number: 9300046581
Desk Number:07312567192

Other Details & FAQ’s
  • Local Address proof
  • In Person Verification
  • Contract notes
  • Payments for shares purchased by NRI
  • Remittance of Sale proceeds
  • Application for IPO by NRI
  • Taxes

At the time of client registration, client needs to provide its foreign address along with documentary proof of the same. If client so desire it can keep its local address as correspondence address. In such scenario additionally they are required to provide documentary evidence in support of local address also.

In case of NRI client registration documents are required to be executed by client himself and not by Power of Attorney Holder. In case of In-person verification of such clients, the members may obtain from such clients KYC documents attested by any one of the following entities – Indian Embassy/Consulate general in the country where the client resides, Notary Public, Court, Magistrate, Judge or Local banker.

Contract notes in original for both purchase and sale transactions needs to be submitted within the time specified to the designated bank to enable designated banks to report the same to Reserve Bank of India

  • Intra-day transactions in cash segment: NRI Investor has to take delivery of shares purchased and give delivery of shares sold. Short Selling is not permitted.
  • Futures & options segment: NRIs are allowed to invest in futures & options segment of the exchange out of Rupee funds held in India on non-repatriation basis, subject to the limits prescribed by SEBI.
    An NRI, who wishes to trade on the F&O segment of the exchange, is required to approach the exchange through a clearing member, through whom the NRI would like to clear his trades for allotment of custodial participant (CP) code. Clearing corporation would assign a CP code to each NRI, based on the application received from the clearing member of the NRI. Trading members should ensure that at the time of order entry CP Code of the NRI is placed in the CP Code field of the trading system. The NRI client shall have only one clearing member at any given point of time

Payment for purchase of shares and/or debentures on repatriation basis has to be made by way of inward remittance of foreign exchange through normal banking channels or out of funds held in NRE/FCNR (B) account maintained in India. If the shares are purchased on non-repatriation basis, the NRIs can also utilize their funds in NRO account in addition to the above

In case of NRI/PIO, if the shares sold were held on repatriation basis, the sale proceeds (net of taxes) may be credited to his NRE /FCNR (B)/NRO accounts of the NRI/PIO, whereas sale proceeds of non-reparable investment can be credited only to NRO accounts

Can an NRI transfer shares purchased under PIS to others under private arrangement?

Shares purchased under PIS on stock exchange shall be sold on stock exchange only. Such Shares cannot be transferred by way of sale under private arrangement or by way of gift (except by NRIs to their relatives as defined in Section 6 of Companies Act, 1956 or to a charitable trust duly registered under the laws in India) to a person resident in India or outside India without prior approval of the Reserve Bank.

The issuing company may issue shares to NRI on the basis of specific or general permission from GoI/RBI. Therefore, individual NRI need not obtain any permission. While seeking the credit of sale proceeds to NRE/NRO account, the designated bank should be provided with the details regarding date of allotment and cost of acquisition to calculate the taxes, if any.

As regards tax deduction at source/ remittance, seller can repatriate immediately the funds to the extent of the cost of acquisition of investment sold or the actual amount of sale proceeds realized, whichever is less, without production of a any objection / tax clearance certificate. In case of long-term capital gains, on the remaining amount capital gains tax would be charged and the balance could be remitted. In case of short-term capital gains the taxes are to be deducted at source by the buyer but NRIs are advised to pay it as advance tax.

indira trade

The Indira Group founded in the year 1987 and since then it has set a benchmark for the quality services and a very special personal touch. It has reached out deep into the souls of investment class [right from corporate, to HNI’s, to conscious small investor's.

toll free 18001030059
investors grievance emailcomplaint@indiratrade.com
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indira securities pvt.ltd. (sebi reg.no.):NSE TMID: 12866, BSE TMID: 663, CDSL DPID: 17000 SEBI REG. NO.: NSE CM-INB231286635, NSE FO-INF231286635, NSE CDS-INE231286635, BSECM- INB011286631, BSE FO- INF011286631, PMS SEBI REG. NO. INP000005018, CDSL DP- IN-DP-CDSL-75-2000

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