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 Equity delivery in the Indian stock markets
NRIs are not allowed to trade or invest in any other segments such as Equity F&O, Currency, Commodities, and Mutual Funds.
All the transactions in a Portfolio Investment Scheme account are reported to RBI.
Funds can be transferred in foreign currency and are repatriable.
An NRI cannot sell the holdings bought using PIS in a Non-PIS account
You can open both an NRE PIS account and NRO PIS account in Fyers.
To initiate the NRI account opening, kindly fill-in your details here.
What is a PIS letter?
Portfolio Investment Scheme is the scheme of the Reserve Bank of India (RBI) that helps Non-Resident Indians (NRIs) to Buy or Sell Equity shares in the Indian stock markets. PIS letter is to be issued by the bank where you have opened your NRE/NRO ...
Why is 6 months income proof mandatory for F&O trading?
As per the exchange norms, if a person is trading futures and options in any segment then, he or she has to produce income details. Futures and options are the leveraged derivative product and not an appropriate avenue for someone of limited ...
Can a LLP open an account at FYERS?
Yes, any LLP entity can open an account at FYERS. However, you will have to open an account offline. Few documents will be required for opening a LLP account Duly filled Trading/Trading & Demat/Commodity form with photograph of Karta affixed and ...
What is an NRO Non-PIS account?
Under the NRO Non-PIS account, an NRI can Buy & hold Equity Shares, Convertible Debentures/Preference shares, Bonds, Warrants, etc., on a non-repatriation basis. All the investments made by the NRI in this account will be considered domestic ...
What is the difference between an NRE A/c & an NRO A/c?
An NRI can open two types of accounts to trade or invest in India: Non-Resident External (NRE) Non-Resident Ordinary (NRO) Criteria NRE NRO Purpose A Non-Resident External is a bank account wherein the NRI can invest the income earned abroad to ...