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:
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.
NRI services desk for personalized assistance
Dedicated offline equity dealing desk
Online equity trading platforms
24x7 back office
NRI investment advisory desk
IPO and mutual funds
Insurance and personal loan solutions
Pan Card assistance
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:
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
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.