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Is there an easy way around to avoid the complexity of NRI Trading Account opening and handling?

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Open NRI Investment Account is complex and charges for opening and maintaining the account are high. If you are on a short term assignment and are not a frequent trader, you can use some workarounds to avoid this complexity. Here are few suggestions:

  1. If you already have a trading and demat account in India as resident Indian, continue using it. As long as you keep your bank account (which is linked to trading account) as-is and do not convert in NRI account, you should be fine.
  2. As an Indian resident in past, if you still have a normal bank account in India (not the NRI account), the easiest way to open a trading account is as a normal trading account (as you are living in India as resident Indian).
  3. Note that you will have to provide the required document which shows that you are an Indian resident (i.e. Address proof in India)
  4. Open the account on your family member's name who lives in India.

These approaches are commonly used by people who are on short term assignment in foreign or frequently visit oversees i.e. software professionals, students etc. You can still use international address for correspondence. Trading and Demat account can be easily managed online.

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Find more questions on this topic

  1. What all trading segments are available for share trading to the NRI's in India?
  2. What all investment instruments are available for NRI or PIO Card Holders in India?
  3. Can NRI apply in IPO, FPO or other public issues?
  4. Can NRI trade in currency derivatives?
  5. Why intra-day trading is not available for NRI in India?
  6. How much brokerage does Zerodha charges to NRI account holders?
  7. What are ICICI NRI account brokerage charges?
  8. Why does broker charges higher brokerage for NRI trading account?
  9. Can I transfer the shares I bought through the PIS route as NRI to another demat account?
  10. How does money get transferred between my Trading Account and my NRI Bank Account?
  11. Can PIO (Person of Indian Origin) and OCI (Overseas Citizen of India) invest in the India Share Market?
  12. In case a person who is resident in India becomes a non-resident, will he be required to change the status of his holding from Resident to Non-Resident?
  13. In case a non-resident Indian becomes a resident in India or vice versa, will he/she be required to open a new trading account?
  14. What are the documents required to open a NRI trading account?
  15. I have trading account in india whom I don't like I moved to abroad and become NRI,I was thinking of converting my trading acc into NRI bcz of complexity of NRI trading ac, I decided to open a regular trading ac in India will there be any problem?
  16. I was using an ICICIDirect Trading and Demat account when I was resident Indian. My status is now changed to NRI and I wish to open it with discount broker. Can I transfer my existing holdings to the new broker?
  17. What are the negatives of operating the resident trading and demat account instead of NRI?
  18. Services offer to NRIs in India lead lot of charges I'm planning to open trading and demat Ac on my mother's name who lives in India while opening Ac, in bank Ac detail section can I put my NRI Ac no. while demat and trading will belong to my mother?
  19. What is an NRO and NRE Bank Account?
  20. What all documents are required for Custody Account?
  21. Does an NRI requires PIS permission to purchase shares in IPOs?
  22. Can NRI receive shares in inheritance?
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