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| Discuss Trading rules for Non resident of India (NRI) at the Beginners Guide within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Dear Hari, Thank you very much for your kind advise and efforts.Now I have decided ... |
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#21
7th September 2008, 09:11 AM
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Re: Trading rules for Non resident of India (NRI)
Dear Hari,
Thank you very much for your kind advise and efforts.Now I have decided to open joint accounts in my parents name and nominee as my name. I can trade online from abroad with POA. God bless you brother. 
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#22
7th September 2008, 02:11 PM
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Re: Trading rules for Non resident of India (NRI)
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Wish you good success. Hope you will revert back and will post your experiences throught the processes. Best wishes, Hari.
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#23
7th September 2008, 07:22 PM
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Re: Trading rules for Non resident of India (NRI)
Quote:
I have doubt. I hope you would not mind asking? Do you mean you will operate through your NRE/NRO hooked with treading account jointly with your parents or .. you will be hooked to your parent's saving account/demat/and get the RI trading account? In another way you will operate trading a/c of your parents on their behalf? Rgds, Buzz
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#24
7th September 2008, 10:31 PM
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Re: Trading rules for Non resident of India (NRI)
Hi Hari,
 Are NRIs eligible to trade in derivatives,F&O and day trading? Or they are being considered as "Investors" only, who can buy/sell in equities? Thanks in advance, Regards Reji Last edited by Reji; 8th September 2008 at 11:56 PM.
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#25
8th September 2008, 08:02 PM
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Re: Trading rules for Non resident of India (NRI)
NRI Trading account is not available to foreign residents including Non-Resident Indians (NRIs) in United States.
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#26
8th September 2008, 09:03 PM
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Re: Trading rules for Non resident of India (NRI)
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NRI would not be allowed to day trade. Indian non-resident investors are not allowed to speculate on a day-to-day basis in the markets. For instance if they buy shares on Monday they would have to wait till Wednesday to sell it. However, they would be allowed to trade in the futures segment of the market. Best wishes, Hari.
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| The Following User Says Thank You to haribird For This Useful Post: | ||
Reji (8th September 2008) | ||
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#27
15th September 2008, 11:20 PM
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Re: Trading rules for Non resident of India (NRI)
Hi Buzz,
Thanks for your concern & sorry for posting late. What I meant say, since my parents are living in India they will open savings/demat and trading account in their joint names. I will take POA ( Since I'm putting my money) to operate all 3 accounts from abroad. At the time of purchsing MFs their saving bank account will be credited from my NRE account from time to time. I have plan to invest in mutual funds and that too for long term.For long term the tax benefits are same for NRE and residents. Hope you clear from this posting. Regards, Sish7255
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#28
16th September 2008, 11:15 AM
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Re: Trading rules for Non resident of India (NRI)
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That's I think wonderful idea. Instead of getting NRI trading account under your name. And it may lead you to end up paying extra taxes and cess ( approx 31.9%) which really sucks. And of course the limited access of mutual funds with your NRI trading account.
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