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 government.
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 ...
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 ...
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 ...
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 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 ...