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.
SNSF provides advisory to NRIs in Opening or Maintaining NRE (Repatriable) and NRO (Non Repatriable) accounts
Services Offered
NRE
-
To open NRE A/c. (with designated branch of a bank) - Normal - for all dealings excluding portfolio Investment.
-
To open NRE A/c. - PIS (Portfolio Investment Service) exclusively for Portfolio Investment.
-
To obtain RBI approval through the designated bank (RPI) for buy cum sale through Stock Exchanges.
-
To have a DEMAT A/c. in NRE Status.
-
Report all purchases to RBI through designated bank within 24 hrs.
-
To pay by NRE (PIS) cheque to broker for each contract.
-
Report all sales to RBI through designated bank within 24 hrs.
-
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
-
To open NRO A/c. (with designated branch of a bank) - Normal - for all dealings excluding portfolio Investment.
-
To open NRO A/c. - PIS (Portfolio Investment Service) exclusively for Portfolio Investment.
-
To obtain RBI approval through the designated bank (NRI) for buy cum sale through Stock Exchanges.
-
To have a DEMAT A/c. in NRO Status.
-
Report all purchases to RBI through designated bank within 24 hrs.
-
To pay by NRO (PIS) cheque to broker for each contract.
-
Report all sales to RBI through above bank within 24 hrs.
-
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
-
PAN Card (Mandatory for all the applicants)
-
Passport (Mandatory in case of NRI)
-
Voters ID
-
Driving License
Foreign Address Proof
-
Passport
-
Latest Flat Maintenance Bill
-
Latest Rent Agreement
-
Latest Electricity Bill
-
Latest Landline Telephone Bill
Proof of Address
-
Ration card
-
Driving license
-
Voters ID
-
Bank Pass Book
Proof of Bank Account
-
Bank Statement or Bank Pass book Copy (with the bank seal & stamp)
-
A blank cheque (which is personalized)
-
RBI Approval Copy – Mandatory for NRI clients
-
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