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1. Rajesh   I Like It. |Report Abuse|  Link|January 4, 2016 5:17:22 PMReply
I am NRI since 2014, I am already having a NRI demat account. Can I open a local account and demat account for trading without closing NRI demat account. what will be the consequences if we hide the NRI status ?
1.1. Administrator   I Like It. |Report Abuse|  Link|December 6, 2018 2:06:02 PM
Hi Rajesh,
By doing this you are creating problem for yourself with tax authorities of 2 countries as you are breaking the law of both the countries.

Alternatively you could use an account of one of your family members living in India. The challenge there is, you can't take the money back to the country where you are living.

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