NRI Broking Services
NRI Broking Services are a set of services offered by a financial services company in India to cater to the needs of non-resident Indians (NRIs) who want to invest in the Indian stock market.
These services include opening and maintaining a DEMAT account, trading in equities, derivatives, mutual funds, bonds and other securities, providing support, facilitating repatriation of funds and complying with tax and regulatory norms.
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SNSF provides advisory to NRIs in Opening or Maintaining NRE (Repatriable) and NRO (Non Repatriable) accounts
Services Offered
NRE
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To open NRE A/c. (with designated branch of a bank) - Normal - for all dealings excluding portfolio Investment.
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To open NRE A/c. - PIS (Portfolio Investment Service) exclusively for Portfolio Investment.
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To obtain RBI approval through the designated bank (RPI) for buy cum sale through Stock Exchanges.
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To have a DEMAT A/c. in NRE Status.
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Report all purchases to RBI through designated bank within 24 hrs.
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To pay by NRE (PIS) cheque to broker for each contract.
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Report all sales to RBI through designated bank within 24 hrs.
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Deposit cheque for sales proceeds in NRE (PIS) A/c.
(Based on the above records, bank will calculate and deduct any Capital Gains Tax if any and credit net proceeds to PIS A/c).
NRO
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To open NRO A/c. (with designated branch of a bank) - Normal - for all dealings excluding portfolio Investment.
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To open NRO A/c. - PIS (Portfolio Investment Service) exclusively for Portfolio Investment.
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To obtain RBI approval through the designated bank (NRI) for buy cum sale through Stock Exchanges.
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To have a DEMAT A/c. in NRO Status.
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Report all purchases to RBI through designated bank within 24 hrs.
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To pay by NRO (PIS) cheque to broker for each contract.
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Report all sales to RBI through above bank within 24 hrs.
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Deposit cheque for sales proceeds in NRO (PIS) A/c.
(Based on the above records, bank will calculate and deduct any Capital Gains Tax if any and credit net proceeds to PIS A/c).
Documents
Necessary Documents for NRIs to Open an Account
Proof of Identity
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PAN Card (Mandatory for all the applicants)
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Passport (Mandatory in case of NRI)
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Voters ID
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Driving License
Foreign Address Proof
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Passport
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Latest Flat Maintenance Bill
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Latest Rent Agreement
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Latest Electricity Bill
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Latest Landline Telephone Bill
Proof of Address
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Ration card
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Driving license
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Voters ID
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Bank Pass Book
Proof of Bank Account
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Bank Statement or Bank Pass book Copy (with the bank seal & stamp)
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A blank cheque (which is personalized)
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RBI Approval Copy – Mandatory for NRI clients
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FEMA Declaration Letter ( Eg: see Download Section)
Open an Account
Global Investment Opportunities are just a Click away
Shree Naman Securities and Finance Pvt. Ltd.
A: 415, Parekh Market, 39 J.S.S. Road, Opera House, Mumbai 400004