What is the NRE PIS account?

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 exchanges. This account utilizes the income earned overseas for investment purposes.
Highlights of the NRE PIS Account include:
  • Full Repatriation: Funds from the NRE PIS account can be fully repatriated, meaning they can be moved back to the investor’s country of residence without any regulatory roadblocks.
  • Currency Conversion: Money in the account can be easily converted to any foreign currency, providing flexibility for international transactions.
  • Funds Transfer: There is an allowance to transfer funds from an NRE account to an NRO (Non-Resident Ordinary) account, offering convenient fund management.
To get detailed guidance on opening an NRI Demat account, you may review the informative article provided.
To commence the process of opening your NRI account with FYERS, please submit your details here.