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:
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.
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Can an NRI link both NRE and NRO accounts to a single trading account?
An NRI is permitted to open both NRE and NRO accounts with any bank that is authorized by the Reserve Bank of India (RBI). However, when it comes to linking these accounts to a trading account with FYERS, an NRI must choose to link either one — an ...
What is an NRO Non-PIS account?
An NRO Non-Portfolio Investment Scheme (Non-PIS) account is a type of investment account that enables Non-Resident Indians (NRIs) to purchase and hold various Indian securities like equity shares, convertible debentures, preference shares, bonds, and ...
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 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 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 ...