Investment Info

Both the Centre and the States in India are committed to the common interests and concerns of NRIs. Various programs have been initiated for the engagement and welfare of the NRI community. Initiatives: Facilitating investment in India The MOIA and the CII have set up the Overseas Indian Facilitation Centre (OIFC) for the following: To promote Overseas Indian investments in India and f...

DEMAT account DEMAT accounts not only facilitate the buying and selling of shares online but also help in mutual funds and IPO investments online. Documents required for opening a DEMAT account: Completely filled and signed account-opening form Copy of PAN card Proof of Identity (Copy of passport is mandatory) Proof of PIO (in case of a PIO) Proof of address Proof of bank accoun...

NRIs and PIOs are permitted to avail loans and advances from AD banks in accordance with the provisions of the Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000. AD banks can grant loans and advances to NRIs and PIOs either against the security of shares or other securities held in the name of the NRI or against the security of immovable property (other than agricu...

Particulars FCNR FCNR NRO NRE NRE Who can open an account? NRIs (Individuals / entities of Bangladesh/ Pakistan nationality/ownership require prior approval of the RBI) NRIs (Individuals / entities of Bangladesh / Pakistan nationality/ownership require prior approval of the RBI) Any person resident outside India (other than a person resident in Nepal and Bhutan) (Individua...

Building your portfolio in India NRIs wanting to invest in Indian stock market should: Open a NRE/NRO savings bank account with a designated bank (AD) branch approved by the RBI for this purpose. Apply for a general approval for investment in the Indian stock market through a designated bank branch (PIS approval). Open a DEMAT account with a depository participant (DP) to hold their share...

Getting your PAN A Permanent Account Number (PAN) is a 10-digit alphanumeric number allotted to citizens for tax identification. Persons who are required to obtain a PAN A person whose income exceeds the tax-free limit A person assessable with respect to some other person’s income (representative assessee) A person who receives a sum from which tax has been deducted at source A person...

Any person resident outside India, including an NRI/PIO (except individuals/entities of Bangladesh/ Pakistan nationality/ownership) are permitted to open an NRO account with AD banks to execute bonafide transactions in rupees not involving any violation of the FEMA provisions. NRO accounts may be opened or maintained in the form of current, savings, recurring or fixed deposit accounts. Permi...

Remittance of funds outside India 1. Remittance of current income NRIs and PIOs can remit current income such as rent, dividend, pension and interest from the NRO account since it qualifies for permissible debit. NRIs and PIOs not maintaining an NRO account may repatriate current income (net of taxes) through AD banks. 2. Remittance of assets NRIs and PIOs are permitted to remit an amount...

Banking in India Permissible bank account for NRIs/PIOs In accordance with the Foreign Exchange Management (Deposit) Regulations, 2000, NRIs and PIOs are permitted to open the following types of bank accounts in India: 1. Non-Resident (External) Rupee (NRE) Account NRI/ PIOs (except individuals/entities of Bangladesh/Pakistan nationality/ownership) are permitted to open and maintain NRE...

Foreign Currency (NR) Account (FCNR) NRIs/PIOs (except individuals/entities of Bangladesh/Pakistan nationality/ownership) are permitted to open and maintain these accounts with AD banks. Following are important features of an NRE account: FCNR accounts are permitted to be opened with funds remitted from outside India through normal banking channels or funds received in rupees by debit to th...