Chittorgarh.com Logo
Loading...

Do I need RBI permission for NRI Demat Account?

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

No, NRIs don't need permission from RBI to open the demat account in India. The NRI demat account is similar to the resident demat account. but at the time of account opening, the NRI customer has to choose the account subtype as NRE or NRO. NRI Demat account should also be linked with the respective NRI Bank Account (NRE or NRO).

NRI Demat Account and Resident Demat Account are opened and managed in the same way. They carry the same transaction charges, AMC and taxes.

On Repatriation Basis

NRI need RBI permission (PIS) to invest on repatriation basis in the stock market. NRI can trade on repatriation basisin Equity F&O through a Custodial Participant (CP) using a CP code.

On Non-repatriation Basis

NRI doesn't need RBI/PIS permission to invest on the non-repatriation basis in the stock market or trading in equity derivatives (F&O) in India.



Comments

Add a public comment...