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NRI Services

NRI Services

NRI Investment Services

Angel Broking understands the varied needs of the NRIs and values your patronage. We offer a bouquet of products and services exclusively devised for the unique needs of NRIs.

The customer identification procedure, for opening an NRI Demat and Trading account, requires the following documents to be submitted:

  • Passport copy
  • Foreign address proof
  • Local address proof
  • P.I.S. letter copy
  • PAN card copy
  • NRI trading account opening charges Rs. 100 / exchange, DEMAT account charges Rs. 575
  • Copy of NRO/NRE statement
  • Completely filled application with 3 passport size photographs

Note: With respect to the above subject, we would like to inform you that at the time of opening an NRI/FN (Foreign National) Account, all photocopies of documents collected have to be attested by the Indian Embassy/Consulate General/Notary Public/Any Court/Magistrate/Judge/Local Banker, in the country where the NRI/FN resides. The Attesting Authority must affix a verified with original stamps, on all documents submitted for Account opening and the same should be self-attested by the NRI/FN. If the NRI/FN comes in person to open the account, the above attestation requirement is not applicable.

The Angel Advantage
  • Pan India icon

    NRI services desk for personalized assistance

  • transaction facility icon

    Dedicated offline equity dealing desk

  • fund houses icon

    Online equity trading platforms

  • MF News icon

    Depository services

  • Fund Offers icon

    24x7 back office

  • Information and tools icon

    NRI investment advisory desk

  • Customer Help icon

    PMS

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    IPO and mutual funds

  • Information and tools icon

    Insurance and personal loan solutions

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    Banking support

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    Pan Card assistance

FAQs

Portfolio Management Services (PMS) is an investment portfolio in stocks, fixed income, debt, cash, structured products and other individual securities, managed by a professional money manager that can potentially be tailored to meet specific investment objectives.

A Non- Resident Indian (NRI) means a ‘person resident outside India’ who is a citizen of India or is a ‘person of Indian origin’.

Under the Foreign Exchange Management Act, 1999 (FEMA), a person who is NOT a ‘person resident in India’, as defined under Section 2 (v) of the Act is considered as a ‘person resident outside India’. The most important change in definition (since FERA 1973) is that the citizenship of a person no longer has a bearing in determination of residential status.

‘Person of Indian Origin’ (PIO) means a citizen of any country other than Bangladesh or Pakistan, if:

  • That person at any time held Indian passport; or
  • That person or either of his/her parents or any of his/her grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955; or
  • The person is a spouse of an Indian citizen or a person referred to in sub-clause (A) or (B). Investment by PIO in Indian Securities is treated the same as the investment by non-resident Indians and requires same approvals and enjoys the same exemptions.
  • Appreciate a high level of service

NNRI/PIO can open a Demat A/C with any Depository Participant (DP) of NSDL/CDSL.( Angel Broking Ltd is a depository participant of CDSL).The NRI/PIO needs to mention the type (‘NRI’ as compared to ‘Resident’) and the sub-type (‘Repatriable’ or ‘Non-Repatriable’) in the account opening form collected from the DP.

Following is the process for NRI to invest in Indian Capital Markets

  • Open a bank account with a designated bank branch approved by RBI
  • Apply for a general approval for investment in Indian Stock Market through the bank branch
  • Open a Demat A/C with a depository participant to act as registered holder of securities
  • Open account with registered Broking Firm to execute transactions

Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India (RBI) defined in Schedule 3 of Foreign Exchange Management Act 2000 under which the ‘Non Resident Indians’ and ‘Person of Indian Origin’ can purchase and sell shares and convertible debentures of Indian Companies on a recognized stock exchange in India by routing all such purchase/sale transactions through their account held with a Designated Bank Branch.

The Client needs to apply for a general approval for investment in Indian Stock Market through his designated bank branch, where he holds his NRE/NRO account. The application is submitted to a designated branch of an authorized dealer in India in the prescribed form. No permission is required from RBI.

Funds remitted from abroad or local funds, which can otherwise be remitted abroad to the account holder, can be credited to NRE Accounts. Local funds, which do not qualify for remittance outside India, are required to be credited to NRO accounts.



NRI Helpdesk

Call : 91 022 30842716 / 91 022 39413940 - ext. 5424/5345.

Email : nri@angelbroking.com

Note

Click here to view RBI's regulations for NRI Investors

Click here to view the list of Scrips Banned for trading for NRI / PIO clients