NRI/NROAn NRI is an Indian citizen who stays outside India for the purpose of employment, business or vocation, or under circumstances indicating an intention to stay outside India for an uncertain duration, or Any Indian citizen posted outside India for a temporary period in connection with employment, the period of stay being 6 months or more.
NRIs hold Indian passport. Overseas Citizens of India do not hold Indian passport, however it is the closest thing to a dual citizenship that India Offers.
Yes, NRI and OCIs can invest in Indian stock markets on Repatriable and Non Repatriable basis through NRE and NRO accounts respectively.
Investment avenues are
An NRI can open NRE, NRO or Both types of accounts in India.
An NRI can open NRE, NRO or Both types of accounts in India.
NRIs can trade only on delivery based equities. Intraday can be done in F&O Trading. SMC is a Trading and Clearing Member so for NRIs, we apply for the Custodian Participant Code for client and clear their trades in F&O Segment.
If a client is interested in only applying for IPOs only, No PIS is required. They can go for NRE or NRO Demat and apply for IPOs through their net-banking login of their respective bank account.
In this case the existing resident status Demat account is to be converted to NRO Demat account. The client would have to submit the KYC again with the broker to change the status and map the NRO account. Once it is done, the client can continue to hold the stocks under NRI status or choose to sell the stocks and take the funds in their NRO accounts.
In case of NRO trading any bank can be added.
NOTE : If the client is not in India at the time of account opening, all the documents are to be attested by Notary, Banker of Indian Embassy,
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Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. IPOs and Mutual Funds distribution services are provided by Moneywise Finvest Limited.
Attention Investors:
"Prevent un-authorized transactions in your account Update your mobile numbers/email IDs with your stock brokers and depository participants. Receive information of your transactions directly from Exchange or Depository on your mobile/email at the end of the day. Issued in the interest of investors" "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary." "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account." Brokerage charged will not exceed maximum limit as prescribed by SEBI.
Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
