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 investments.
The benefits of a Non-PIS account are as follows:
PIS letter will not be required to transact in the Indian stock markets
Avoids the intervention of the regulatory authorities
As it is treated as a domestic investment, there is no upper cap for investing as in the PIS account
Can map any registered bank under this account (It need not be a bank tied up with us, i.e., Yes Bank & HDFC Bank)
No restriction on mutual funds investments across AMCs in India (Except for the tax residents in USA & Canada)
Points to be remembered as an NRI:
Can trade in Equity F&O through FYERS (Refer to this article).
Currency and Commodity segments are not allowed for trading as per the regulations.
Equity Intraday trading is not allowed as per the regulations..
BTST trades are not allowed as per the regulations.
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 ...
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 ...
Why don’t you accept NRO account?
That isn't true! You as an NRI can link your NRO account to your FYERS account. To know more about how to open your NRI account. refer to this article.
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.
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 ...