NRIs
What will happen to my holding if I convert my existing Demat account to NRI account?
All the holding will be transferred to your NRO Non-PIS Demat account and any idle cash balance will be refunded to your new or old bank account. For more details, register here.
What are the documents required to convert my existing FYERS account to an NRO Non-PIS account?
The documents required to convert your existing FYERS account to NRI Non-PIS account are as follows: PAN Passport and the latest immigration stamp page Foreign address proof Indian address proof NRO bank account statement (6 months) Passport size ...
What are the charges to convert my existing FYERS account to an NRO Non-PIS account?
There is no additional cost for converting your resident FYERS account to NRO Non-PIS account. However, for the applicable brokerage and other statutory charges, refer to this article. To initiate the conversion of your Demat to NRO Non-PIS, register ...
How to add or update nominee to my NRI account?
You can add or update nominee online through the My Account portal. For the procedure, kindly refer to this article.
Can I change my mobile number and email address in FYERS as an NRI?
Yes, you can change or update your mobile number and email address online. The procedure to do so is similar to that of a resident Demat account. For the procedure, refer to this article.
What happens if I wrongly transfer funds from NRE account instead of NRO Account to FYERS account through RTGS or NEFT?
If the funds are wrongly transferred, we recommend approaching your bank immediately to get the funds back. As from FYERS end, we will not be able to refund funds. However, if the bank is unable to get the funds back, it could take 60 to 90 working ...
What happens if I don’t take a trade in my NRO or NRE account after account opening?
It is recommended to take the first trade within 90 days of account opening, else the account might be marked as inactive. Once the account status is marked 'Inactive', you will have to reinitiate the KYC process to access your account.
How much time will it take to convert my existing FYERS account to NRO Non-PIS account?
The time taken is subject to the KYC status of the NRI. In general, the overall time taken is between 7 and 10 business days. To initiate the conversion process, kindly register here.
Can I convert my existing FYERS account to an NRO Non-PIS account?
Yes, you can convert your existing resident Demat account to NRO Non-PIS account. To know the procedure, register your details here.
Is there any limit to the amount of investment an NRI can make in India?
NRIs are permitted an unlimited amount of investment options through repatriable and non-repatriable transactions. However, as per the FEMA rules for NRIs, they cannot make investments in small savings or Public Provident Fund (PPF) schemes of the ...
What is the provision for NRI students?
As per the FEMA regulations, students going abroad to study are treated as NRIs and are eligible for all facilities available to NRIs. They are entitled to receive remittances of up to US $1 million a year from their NRE or NRO accounts or profits on ...
Which Bank account can an NRI open?
As per the FEMA regulations, NRIs are not allowed to hold a savings bank account in India and need to set up an NRO or NRE Account as stipulated by the Reserve Bank of India (RBI). An NRO is a Non-Resident Ordinary rupee account and can be held ...
In case a non-resident Indian becomes a resident in India or vice versa, will he/she be required to open a new trading account?
Yes, Trading member needs to open a new trading account which needs to be uploaded with the new category code (01 – Resident Individual) & (11 – NRI) as may be applicable. References • RBI Master Circular dated RBI/2010-11/13 dated July 01, 2010. • ...
How Investment positions of NRIs are monitored?
The Reserve Bank of India (RBI) monitors the investment position/s of NRIs/FIIs in listed Indian companies, as reported by designated banks, on a daily basis. When the total holdings of NRIs/FIIs under the Scheme reaches the limit of 2 percent below ...
Can rights/bonus shares be issued to NRI?
FEMA provisions allow Indian companies to issue Rights/Bonus shares to existing non-resident shareholders, subject to adherence to sectoral cap as may be applicable.
Can trading account be opened for person’s resident outside India who had been allotted shares under ESOP scheme?
Listed Indian companies are allowed to issue shares under the Employees Stock Option Scheme (ESOPs), to its employees or employees of its joint venture or wholly owned subsidiary abroad who are resident outside India, other than to the citizens of ...
Can an NRI transfer shares purchased under PIS to others under private arrangement?
Shares purchased under Portfolio Investment Scheme (PIS) on stock exchange must 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 ...
Is there any ceiling on the Investments under the Portfolio Investment Scheme?
NRIs are allowed to invest in shares of listed Indian companies in recognized Stock Exchanges under the Portfolio Investment Scheme (PIS). NRIs can invest through designated ADs, on repatriation and non-repatriation basis under the PIS route up to ...
Can two separate trading accounts namely (NRE & NRO) can be opened by NRI?
Yes, clients can have two separate trading accounts based on Non-Resident External (NRE) & Non-Resident Ordinary (NRO). To know more, refer to this article.
Who is an Overseas Citizen of India (OCI)?
Under the OCI Scheme (operational from 02nd Dec 2005), the Government of India decided to grant Overseas Citizenship of India (OCI) commonly known as 'Dual Citizenship'. A foreign national, who was eligible to become a citizen of India on 26.01.1950 ...
Are NRIs allowed to invest in Exchange Traded Funds (ETFs)?
Yes, NRIs are allowed to Invest in Exchange Traded Funds (ETFs). NRIs can invest in ETFs both on a repatriation as well as non-repatriation basis.
Do I have to pay taxes on income earned in my NRI account?
Income received in India is taxable under section 5 of the Income Tax Act, 1961. It is recommended that you consult a tax expert who will help you based on the nature and quantum of your income earned in India and will calculate your tax liability.
Who will send the Contract note for NRO F&O trades?
The contract notes will be sent by FYERS. However, the contract note will not contain the details of trade obligations as they are recorded by the Custodian (Orbis Financials). The trade obligation details will reflect in the margin statements sent ...
How to withdraw funds from my Orbis account?
If your Orbis account is mapped with FYERS, you can place fund withdrawal requests by filling up this form.
How to transfer funds to my NRO Non-PIS trading account?
Unlike a resident account, NRI clients must maintain two separate sets of funds: Equity Investing: To buy Equity in Delivery, NRI clients can transfer the funds using any of the below methods: Instant Payment Gateway. NEFT/RTGS IMPS To know more, ...
As an NRI, I trade in high volumes. Will FYERS reduce my brokerage?
No, we charge the same fixed rates for all our clients. We do not offer different plans to clients based on their trading volumes/funds in their trading accounts. For more information about other transactional charges, click here
How much time is taken to activate F&O for NRO Non-PIS?
The activation of the F&O segment depends on the KYC status of the NRIs. The F&O segment will be activated in 7-10 working days, provided their KYC status is 'Non-Resident.' If the KYC status of the NRI is 'Resident,' it could take 15 to 30 working ...
What are the brokerage charges for the F&O segment for NRI?
The brokerage applicable for the Equity F&O segment for NRIs is ₹50 per executed order. Additionally, monthly clearing charges will be applicable from Orbis Financials Private Limited (Our custodian to clear F&O trades) at ₹150/crore for Futures and ...
Do I need to maintain separate funds for Equity and F&O segment in my NRI account?
Yes, you must allocate separate funds to trade as well as invest through your NRO Non-PIS account. For Equity: NRIs can transfer funds directly to their FYERS Account through our fund transfer portal. For more details, click here. For Equity F&O: In ...
Can an NRI trade using FYERS API?
In Short, Yes! Once, an NRI opens an account with FYERS, they will be able to access the API services. For more details on our Trading APIs, refer to this FAQs section. Also, To check out our API Bridge premium services, click here. For any ...
What are the NRO banks that can be linked with FYERS?
For opening a PIS account, we have partnered with three banks, namely: HDFC Bank Axis Bank Yes Bank If you wish to open a Non-PIS account, you can link any bank to your FYERS Account. Note: We will assist you to open your PIS bank account with our ...
If an Indian Resident becomes an NRI, what needs to be done?
If the Indian Resident becomes an NRI, it is the responsibility of the client to inform the change of status to the designated authorized bank, through which the investor had made the investments and also the brokerage, i.e., FYERS. Subsequently, the ...
How do I contact FYERS team to open an NRI account?
You can follow any of the following procedures to initiate a callback from our team: 1. Register your details here. 2. You can send an email request to support@fyers.in. Our concerned team will get in touch with you to assist in this regard within 24 ...
Can an NRI trade in Equity Delivery and F&O in the same account?
Yes, an NRI can trade/invest in both Equity Delivery and F&O segments provided you are opening an NRO Non-PIS account. To open an NRO Non-PIS account, refer to this article.
Can an NRI trade in the Commodity segment?
No, NRIs are not allowed to trade in the commodity segment due to regulatory restrictions. To initiate the NRI account opening, kindly fill-in your details here.
Can an NRI trade in the Currency Derivatives segment?
As per the regulations, an NRI is not allowed to trade in the currency derivatives segment. To initiate the NRI account opening, kindly fill-in your details here.
If an NRI becomes a resident in India, what needs to be done?
If the NRI becomes a resident of India, it is his/her responsibility to inform the change of status to the designated authorized bank, through which the investor had made the investments and FYERS. Subsequently, he needs to initiate the new account ...
What is the NRE PIS account?
The NRE PIS Account is an account an NRI can open with the PIS permission from the Reserve Bank of India to invest in the Indian Stock Market. It facilitates NRIs to trade in stocks using the income earned abroad. Points to be noted for the NRE PIS ...
What is a Portfolio Investment scheme?
Portfolio Investment Scheme (PIS) is an RBI scheme that enables Non-Resident Indians to buy and sell shares on a repatriation basis in Indian stock markets. Important features of a PIS account: The PIS bank account is used only for investing in ...
Can I apply for an IPO using Fyers NRI account?
Yes, you can apply for IPOs provided you link your NRO Non-PIS account to your FYERS Demat. If you link any other NRI account, you might not be able to apply for IPOs as it completely depends on the issuer company to let the NRIs invest in the IPO. ...
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