Create a wealth when you come back to India
What is the eligibility to open an NRE or NRO account ?
- To open an NRE / NRO account in India the citizen needs to have lived outside India for a period for 120 days or more . They also should have spent less than four years of the last 10 years living outside India .
Can a Student open an NRE or NRO account ?
- Yes, Students overseas can have a NRE or NRO account .
Do I need to have a PIS ( Portfolio Investment Schemes ) ac for investing in stock market for long term ?
- No, You can open a NON PIS ac with any banks that will be your NRO ac & It will be opened by your affiliated bank , Please contact your bank to open a NON PIS NRO ac for long term investment .
NRI allowed to trade in derivatives , Intraday , F&O Market ?
- No directly it’s not allowed, NRI can only trade in cash market preferably long term investments , NRI have to take delivery of the stock purchased .
What are the taxation ?
- Any Profits derived after selling of stock within 1 year is Short term capital gain taxed at 15 %
- Any Profit derived after selling of stock after 1 year is Long term capital gain taxed at 10% ( Pls Note exception limit is 1 lakh ) ie : Profits made above 1 lakh will be taxed at 10% in LTCGT
What do you suggest to NRI ?
- If you want to make it hassle free investment then we suggest you to open a NON PIS NRO ac for long term investment with your bank. First step is to open a NON PIS NRO ac with your bank then contact any broker that you want to open a Demat ac in India with your NON PIS NRO ac which you can operate from anywhere in the world using Netbanking .
Final Thought :
If he person earned from overseas they have to open an NRE account however with regards to investing in India a person has to open a NRO account to invest hassle free
What are the Basic Documents required to open an NRE or NRO ac ?
- Identity Proof ( Copy of Pan, Passport )
- NRI status proff ( Copy of Visa, Work Permit , PIO, OCI )
- Proof of residence abroad
- Indian Address proof
- Canceled cheque
- PIS permission letter
HOW TO OPEN A DEMAT AC AS AN NRI WITH ZERODHA ?
- Opening ac with Zerodha is an Offline process to know the complete process click here
HOW TO OPEN AN NRO NON-PIS AC ?
- To know the process click here
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