Demat Account

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200+

Cities Covered

15+

Countries Served

9000+

Documents Delivered

34+

Year of trust

Our Process

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Submit your documents with IFNRI

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Online verification call with the banker

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Account will be opened in 48 hours

Documents Required

Passport copy

PAN card copy

Visa copy

Document for overseas address proof

Photograph

Submit your Query

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Frequently Asked Questions

  • 1. Generally there are following 4 categories of investments that require a NON PIS account for NRI:
  • 2. Mutual fund investments - While investing in MF, the voting right or the ownership of the shares remains with the AMC/trust and not the individual investing in the MF. Therefore, here also reporting is not required and these transactions are covered under Non-PINS.
  • 3. Bonus or Right issue investments by company - While declaring bonus, it is like a fresh issue of shares at zero cost, therefore the responsibility is of the company to inform RBI about the shares it is providing to NRIs. Also since bonus is provided to all, overall percentage holding remains the same.
  • 4. Investing in IPO - Under IPO, it is the responsibility of the company to inform RBI of the shares it is allotting to NRIs, therefore these shares are not covered under PINS.
  • 5. GShares bought as resident of India - Shares bought as resident Indian, do not confer the ownership right to any NRI as a foreign body, therefore these shares are also not covered under PINS.

A Portfolio Investment Scheme (PIS) account is a scheme that allows Non-Resident Indians (NRIs) to purchase and sell shares and convertible debentures of Indian companies. The Reserve Bank of India (RBI) created the PIS to allow NRIs to invest in India's secondary capital markets.

  • As soon as you change the status to NRI, you must open one of the following accounts which may be NRE/NRO
  • Foreign revenue is primarily deposited into the NRE account. Only NRIs can open an NRE account and hold joint account ownership.
  • To make the most of your NRE account, you should know its terms. Apart from offering high liquidity, some of the key features of NRE accounts include –
  • Tax-exempt interest
  • Complete repatriation of funds
  • Allows to deposit foreign earnings in INR
  • Facilitates investments in the capital market
  • Offers global access through online banking and international debit cards
  • One of the most essential benefits of NRE accounts is their tax exemption with respect to the principal and interest accrued on them in India.
  • There are a number of situations in which you might need to transfer funds to an NRE account. In order to pay for investments and costs overseas in your preferred currency, you might need to transfer your money earned in Indian rupees and withdraw it. It's possible that you should have an NRO account just for the purpose of collecting Indian revenue and handle all of your investments in an NRE account so that you have the flexibility of complete repatriation when you need the money.

  • 1. Borrowing and lending in INR with relatives is permissible for NRI.
  • 2. Borrowing from relative is allowed upto $250,000
  • 3. NRI Cannot borrow or lend money to/from friend.
  • 4. Relative is defined as per the companies act'2013.
  • 5. Resident cannot lend money to anyone in foreign exchange.
  • 6. NRI/OCI Cannot buy agricultural land but they are allowed to inherit the same.
  • 7. NRI/OCI Cannot recieve agricultural land as a gift.
  • 8. agriculture land includes farm house and plantations as well.
  • 9. NRI Cannot invest in business of chit funds.
  • 10. NRI cannot invest in business of buying or selling of land.
  • 11. NRI cannot invest in business of trading in transferable development rights.
  • 12. NRI can invest in business of buying or selling of commercial or residential real estate or construction of roads and bridges.
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