NRIs
What happens to my holdings when converting a Demat account to an NRI account?
When you convert your existing Demat account to an NRI account, the following changes will take place: Transfer of Holdings: All your current holdings will be moved to your NRO Non-PIS Demat account. Cash Balance Refund: Any remaining cash balance in ...
What documents are needed to change my FYERS account to an NRO Non-PIS account?
If you're looking to convert your existing FYERS account to an NRO Non-PIS account, you'll need the following documents: PAN card Passport along with the latest immigration stamp page Foreign address proof Indian address proof NRO bank account ...
What are the costs associated with converting my FYERS account to an NRO Non-PIS account?
Converting your resident FYERS account to an NRO Non-PIS account won't incur any additional costs. However, for details on the applicable brokerage and other statutory charges, please refer to this article. If you're ready to start the conversion ...
How can I add or update the nominee in my NRI account?
To add or update the nominee for your NRI account, kindly follow the steps below: Log in to the 'My Account' portal. Head to 'Manage Account'. Navigate to 'Online Nomination' and click on 'Update Nominee/s'. For a comprehensive step-by-step guide, ...
How can I update my mobile number and email address in FYERS as an NRI?
If you're an NRI and wish to change or update your mobile number and email address with FYERS, follow these simple steps: Log in to the My Account portal. Navigate to 'Manage Account'. Go to the email ID and Mobile number section and click on the ...
What should I do if I accidentally transfer funds from an NRE account to FYERS through RTGS or NEFT, instead of from an NRO account?
If you inadvertently transfer funds from your Non-Resident External (NRE) account to FYERS, when it was intended to be from your Non-Resident Ordinary (NRO) account, please adhere to the updated steps below to resolve the issue: Download the Consent ...
What should I do if I don't trade in my NRE or NRO account after opening it with FYERS?
If you haven't taken a trade within 90 days of account opening, we recommend doing so to keep the account active. Otherwise, the account may be marked as 'Inactive'. If your account status changes to 'Inactive', you'll need to reinitiate the KYC ...
How long does it take to convert my FYERS account to an NRO Non-PIS account?
The duration to convert your existing FYERS account to an NRO Non-PIS account largely depends on the KYC (Know Your Customer) status of the NRI. Typically, the conversion process takes between seven to 10 business days. To initiate the conversion ...
Can I change my current FYERS account to an NRO Non-PIS account?
Certainly! Converting your existing FYERS resident Demat account into an NRO Non-PIS account is permissible. For detailed instructions on the conversion process, please register your details with us. We will guide you through the necessary steps.
What is the investment limit for NRIs in India?
Non-Resident Indians (NRIs) have the flexibility to invest unlimited amounts in various investment avenues in India through both repatriable and non-repatriable means. It's important to note, though, that FEMA regulations place certain restrictions ...
What facilities are available to NRI students under FEMA regulations?
Students from India who go overseas for education are considered as Non-Resident Indians (NRIs) under the Foreign Exchange Management Act (FEMA) regulations. Consequently, they are entitled to the same facilities that NRIs receive. This includes the ...
What types of bank accounts are available for NRIs to open?
In line with the Foreign Exchange Management Act (FEMA) regulations, Non-Resident Indians (NRIs) are not permitted to maintain regular savings accounts in India. They are required to open either an NRO (Non-Resident Ordinary) account or an NRE ...
Is a new trading account required if an NRI becomes a resident or if a resident becomes an NRI?
In the event of a change in residency status, from non-resident to resident or vice versa, it is mandatory to open a new trading account that corresponds to the new residency status. The trading member must ensure the new account reflects the updated ...
How are NRI investment positions in Indian companies monitored?
The investment positions of Non-Resident Indians (NRIs) and Foreign Institutional Investors (FIIs) in listed Indian companies are diligently monitored by the Reserve Bank of India (RBI). This surveillance is conducted on a daily basis through reports ...
Is it permissible for NRIs to receive rights/bonus shares from Indian companies?
Under the Foreign Exchange Management Act (FEMA) guidelines, Indian companies are authorized to issue Rights and Bonus shares to their non-resident shareholders, provided that the issuance is in compliance with the applicable sectoral cap.
Is it possible for non-residents outside India with ESOP shares to open a trading account?
Yes, individuals residing outside India, who have been allotted shares under an Employee Stock Option Plan (ESOP) by listed Indian companies, can open a trading account. This is applicable to employees of the company or its joint venture or ...
Are NRIs permitted to transfer PIS-purchased shares through private arrangements?
Non-Resident Indians (NRIs) are restricted from transferring shares acquired under the Portfolio Investment Scheme (PIS) through private arrangements. Shares bought under PIS must be sold exclusively on the stock exchange. Transfers by sale under ...
What are the investment limits for NRIs under the Portfolio Investment Scheme (PIS)?
Non-resident Indians (NRIs) are indeed permitted to invest in shares of listed Indian companies through recognized stock exchanges under the Portfolio Investment Scheme (PIS). These investments can be managed via designated Authorized Dealers (ADs) ...
Can NRIs Open Both NRE and NRO Trading Accounts?
Yes, Non-Resident Indians (NRIs) have the option to open two distinct trading accounts for Non-Resident External (NRE) and Non-Resident Ordinary (NRO) funds. These accounts cater to different needs and have separate regulations concerning ...
Who qualifies as an Overseas Citizen of India (OCI)?
The Overseas Citizen of India (OCI) status is a form of permanent residency available to people of Indian origin and their spouses which allows them to live and work in India indefinitely. Despite its name, OCI status does not confer actual ...
Can NRIs invest in exchange traded funds (ETFs)?
Absolutely, Non-Resident Indians (NRIs) have the liberty to invest in Exchange Traded Funds (ETFs). This can be done on either a repatriation or non-repatriation basis, offering flexibility depending on individual financial strategies and needs.
Is income earned in my NRI account subject to taxes?
Yes, any income earned through your NRI account from transactions in India falls under the purview of the Income Tax Act, 1961, specifically section 5, which deals with the scope of total income. Given the complexities of tax obligations, we strongly ...
Who issues the contract note for NRO F&O trades?
FYERS is responsible for issuing the contract notes for your NRO F&O trades. It's important to note, however, that these contract notes will not include the specifics of trade obligations. The details pertaining to trade obligations are recorded and ...
How do I withdraw funds from my Orbis account linked with FYERS?
To initiate a withdrawal of funds from your Orbis account that is mapped with FYERS, please complete and submit the withdrawal request form provided here. This form is a simple step to communicate your request to us, ensuring that your withdrawal is ...
How can I transfer funds to my NRO Non-PIS trading account?
Transferring funds to your NRO Non-PIS trading account involves a process that varies based on the segment you wish to invest in: For Equity Investing: To participate in Equity Delivery, you can deposit funds into your FYERS account using any of the ...
Does FYERS offer reduced brokerage for high-volume NRI traders?
At FYERS, we adhere to a policy of equality and transparency in our fee structure, ensuring that all clients are treated uniformly. Therefore, we maintain the same fixed brokerage rates for all our clients, regardless of the trading volumes or the ...
How long does it take to activate F&O for an NRO Non-PIS account?
The time frame for activating the Futures & Options (F&O) segment for NRO Non-PIS accounts primarily hinges on the KYC status of the NRI client. If the KYC status is marked as 'Non-Resident', the F&O segment is typically activated within 7-10 working ...
What are the brokerage charges for NRIs trading in the F&O segment?
The brokerage fee for NRIs trading in the Equity Futures & Options (F&O) segment is ₹50 per executed order. There are also monthly clearing charges imposed by Orbis Financials Private Limited, our appointed custodian for clearing F&O trades, which ...
Do I need to maintain separate funds for equity and F&O segment in my NRI account?
Yes, NRIs are required to maintain distinct funds for the Equity and Futures & Options (F&O) segments in their NRO Non-PIS account. For Equity: NRIs have the facility to transfer funds directly into their FYERS account via our online fund transfer ...
Is FYERS API accessible to NRIs for trading?
Yes, NRIs can trade using FYERS API once they have opened an account with FYERS. Our API services are designed to enable a seamless trading experience. For comprehensive details regarding our Trading APIs, please refer to our FAQs section. ...
Which banks can be linked for NRO accounts with FYERS?
When opening a Portfolio Investment Scheme (PIS) account through FYERS, you have the option to partner with the following banks: HDFC Bank Axis Bank Yes Bank If you're opting for a Non-PIS account, FYERS offers you the flexibility to link any bank of ...
What steps should be taken if an Indian Resident becomes an NRI?
When an Indian Resident changes their status to a Non-Resident Indian (NRI), they are required to: Notify the Status Change: Inform the designated authorized bank through which the investments were made as well as the brokerage firm, such as FYERS, ...
How to initiate an NRI account opening with FYERS?
If you're looking to open an NRI account with FYERS, here are the steps you can follow to get in touch with our team: Online Request: Complete the online registration by clicking here and providing your details. This will trigger a callback from our ...
Can NRIs trade in both equity delivery and F&O with a same account?
Yes, NRIs are permitted to trade in both Equity Delivery and Futures & Options (F&O) through a single account. This is achievable by opening an NRO Non-PIS account. For a step-by-step guide on establishing an NRO Non-PIS account, we encourage you to ...
Are NRIs permitted to trade in the commodity segment?
Currently, Non-Resident Indians (NRIs) are not permitted to participate in commodity trading in India. This is due to specific regulatory restrictions that prevent NRIs from engaging in this segment of the market. To initiate the NRI account opening, ...
Is currency derivatives trading allowed for NRIs?
Non-Resident Indians (NRIs) are not permitted to engage in currency derivatives trading due to current regulatory guidelines. NRIs seeking to invest in other financial instruments or require assistance with an account setup for permitted trading ...
What should an NRI do upon becoming a resident in India?
If you, as a Non-Resident Indian (NRI), gain resident status in India, you must undertake the following actions: Notify the Bank: Inform the designated authorised bank, through which you made your investments, about the change in your residential ...
What is an NRE PIS account?
An NRE PIS (Non-Resident External Portfolio Investment Scheme) Account is a type of bank account that Non-Resident Indians (NRIs) can set up with authorization from the Reserve Bank of India (RBI) under the PIS to trade shares on Indian stock ...
What is the Portfolio Investment Scheme for NRIs?
The Portfolio Investment Scheme (PIS) is a program from the Reserve Bank of India (RBI) that permits Non-Resident Indians (NRIs) to purchase and sell shares and convertible debentures of Indian companies on recognized stock exchanges under the ...
Can NRIs apply for IPOs through the FYERS account?
Indeed, NRIs have the option to apply for Initial Public Offerings (IPOs) using their FYERS Demat account, specifically by linking their NRO Non-PIS (Non-Portfolio Investment Scheme) account. This particular account streamlines the application ...
Next page