Demat account in India for NRIs

Hi,
Can an NRI open the Dmat account when he visits India? So, that even if he returns to abroad, he can do the trading online? Is it allowed by SEBI/Finanace minstry?

M

Hi M,

NRIs & OCIs Can All have Demat Accounts & Also BUY & SELL Shares, Whether You Are In The Country Or Not Is Immaterial & Doesn't Violate Any Rules.

Though, Intraday Trading In Cash Market Is Not Allowed & Derivatives Segment Is Also Out Of Bounds As Of Now For NRI & OCI.

Happy & Safer Investing

SavantGarde

Hi SavantGarde,
Thanks for your Info. How do one manage the Income Tax part of it? NRIs don't have to pay tax for the money earned in abroad. In that case only the money earned in India is eligible for tax?

Please throw more linght on this. Thanks.


M

Hi M,

You Are Liable For All Profit Made Through Interest Or Stock Market Etc. For Taxes To Be Paid In India.

Moreover, Getting A PAN Card Has Now Become Mandatory For NRI & OCI

Happy & Safer Investing

SavantGarde

Yes, An NRI open the Dmat account when he visits India. With the advance technology everthing has become online. Even you can trade online. Non- residents can trade online. Almost all registered brokers offer facility of online trading in shares to NRIs or non-residents. So, that even if he returns to abroad, he can do the trading online. :hap2: