PIS or NON PIS which is better for NRIs?
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- เผยแพร่เมื่อ 28 ม.ค. 2022
- All you need to know about NRI PIS-NON PIS Accounts before investing in the Indian Stock Markets is covered in this Video.
#nro_pis #nre_pis account #nri_pis_account #nri
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Please check information about non-PIS account @04:35. Some of the websites show that through non-PIS NRO account, it is very much possible to invest not only in IPOs, ESOPs but also in Indian stock market, mutual funds. Only difference, you cannot repatriate.
Highly informative. Thanks, for sharing this. I have a query...I have few physical shares, which I am getting De-Mat...can I get them De-materialize to NRO-Non-PIS account? thanks.
Hi Manish,
Yes, you can. For more details schedule a video call with NRI investment experts calendly.com/sbnri-us/30min?month=2022-03
Hi, thank you for your information, I just wanted to know that which is better between NRO non pis or NRE non pis account?
If you need the funds in overseas country then it is recommended to open NRE non PIS account and if repatriation isn't a concern and you plan to come back to India then go for NRO- Non PIS Account.
V Informative
I am currently having a NRO account,how shall I know it is a PIS or Non PIS account? Also please advice Gulf country NRIs can do F & O or Intraday with NRO account?
Excellent video sir.
I got one small doubt sir, what is the difference in opening a NRO non pis account in bank or brokerage for eg (zerodha)
It's the brokerage charges - firms like zerodha charges you way lesser than a Bank and their platform is way more better than banks
Thanks for this video, this was very helpful. I have a question, if I have few ESOPs & shares, some of the shares I hold I would like to transfer to a family member in India. In this case will I require NRO Non-PIS Account? Do I need to have both PIS & Non-PIS accounts to trade?
You would likely require an NRO Non-PIS account to transfer the shares to a family member in India. Whether you would need both PIS and Non-PIS accounts to trade depends on the type of shares you hold and your specific circumstances.
For more Kindly schedule a call with SBNRI NRI Tax Expert: sbnri.dayschedule.com/taxationweb
Hey if you are looking for an NR account with better returns, wide investment options and fund transfer flexibility do let me know
thank dear very useful information for NRI"S
Thanks for liking
Great info, Thanks. How do i get the PIS permission copy from hdfc bank for opening the account in angel one?
You need to connect with your account manager at HDFC bank and ask for the PIS account opening.
Hi brother, great content ! Just one question, you mentioned that NRE and NRO account can't trade futures and options . So my question is there any other way, I could do while staying abroad ? Thank you.
F&O investments for NRIs is allowed using NRO Account.
Sir thank you & SBNRI.. i have a question... i had opened a demat account when i was resident. I became NRI later and i opened a NRE account in the same bank and my existing savings account in the same bank also got converted to NRO account. So now i have NRE, NRO and Demat account in same bank.
Now, i want to continue trading (buy/sell) equities, MF, IPO etc. through my NRO account.
Is it required for me to get PIS to do trading legally? please advise. I do NOT want repatriation back to my country(outside India).
It is suggested that you either open a PIS or Non-PIS account within the same bank and then apply for an NRI Demat and trading account.
VERY USEFUL CONTENT.
IHAVE A DOUBT : IF I OPEN A NRO PIS OR NON PIS ACCOUNT, THEN CAN I TRADE BOTH STOCKS AND DERIVATIVES WITH THAT ACCOUNT BY CONNECTION WITH A BROKER? OR DO I NEED TO OPEN SEPERATE ACCOUNT NRE PIS FOR STOCK TRADE?
NRE PIS/Non-PIS is required if you want to trade on a repatriable basis, whereas you can trade from your NRO Non-PIS if you want to trade on non-repatriable basis. For more info schedule a call with NRI investment expert by clicking this link calendly.com/sbnri-us/30min?YT&month=2022-04
Thanks for the explanation. I have a query. How can I transfer my existing resident account stocks from local broker to NRO Non PIS account of Zerodha?. I also do have Nre PIS account as well but as far I know I can’t transfer my existing shares of resident account to NRE Demat. I would appreciate your help.
"You can open a NRO Non PIS account and transfer your stocks via DIS(Delivery Instruction Slip).The following is the process of transfer of shares from one Demat account to another in brief.
Step 1 - The investor fills the DIS (Delivery Instruction Slip) and submits it to the current broker.
Step 2 - The broker forwards the DIS form or request to the depository.
Step 3 - The Depository will transfer your existing shares to the Demat account.
Step 4 - Once all the shares are transferred, the same will be reflected in the investor’s new Demat account.
For more clarification or assistance in account transfer, you schedule a call with NRI experts by clicking this link calendly.com/sbnri-us/30min?YT&month=2022-03"
I am planning to open a nro non pis account as I am an nri , can you please tell me what is the capital gain tax for non pis nro account holders ?
Capital gain tax is charged at 10% on Long Term Equity Gains, and15% on short Term Equity Gains. On Debt mutual funds, long term capital gains is taxed at 20%, and short term capital gains at the applicable slab rate of the individual, depending on the total income. For more details, you can schedule a call with NRI Tax Experts by clicking this link bit.ly/3nCKJYl
I have few questions regarding this topic. I am little bit confused. Could I get some advice from you ?
Sure, you can simply call me over this number - +91 7827642084
Can US-based NRIs trade in Mutual Funds using either accounts? I am reading conflicting statements in google and from bank people
Hey Shubhra
For US based NRIs, there are only 6-7 AMCs that actually allow Mutual Fund Investments. If you've completed your MF KYC then you can invest in these funds. To learn more about MF Investments, Schedule a call with our experts using this link: sbnri.dayschedule.com/investweb
Thanks for educational video. I am interested in investing in public sector bonds only. Which dmat account should I open PIS or non-PIS?
If you are interested in investing in public sector bonds only, you should open a non-PIS account. PIS account is required for investing in the secondary market and for making investments in the equity shares of Indian companies through the stock exchange. Since you are only interested in public sector bonds, a non-PIS account would be sufficient for your needs.
For more information Kindly schedule a call with SBNRI NRI Investment Expert using this link: sbnri.dayschedule.com/investweb
Sir if you want to open NR account or demat account with better returns, wide investment options and fund transfer flexibility so do let me know
I have account with SBI SMART and now SBI SECURITIES, but i cant see any option of buying DIRECT MUTUAL FUND PLANS, but only REGULAR MUTUAL FUND PLANS, although the account linked to my Demat is NRO account. Is there a way to buy DIRECT MUTUAL FUND PLANS through SBI SECURITIES ?
No
Hello,
I would like to open an NRE demat account. i have already one with Zerodha but would like to have one more. Now my question is
1) Can I approach my bank HDFC to open one more PIS account for my second broker with which i am going to open a new demat account or I can use the existing PIS account for the new demat account?
2) could you please suggest any stock broker other than Zerodha to open an NRE demat account? When I checked with upstocks and groww they dont have this facility righ now
Hello Mr. Nair,
You can have one PIS and one NON-PIS Accounts.
You can approach your bank for another PIS or NON-PIS Account and then open a Demat account with Motilal Oswal or Kotak Securities or IIFL Securities.
Very Helpful Content
Thanks 🙏
Just one question, I was investing in my brother’s Zerodha Demat account now I want to transfer all those shares into my NRI Demat account.
is that possible? If Yes then which account is best for me NRO PIS/Non-PIS or NRE PIS/Non-PIS
You can get it as a form of gift to you NRO NON PIS account.
My broker said Pis must need for NRE , Non pis not available for nro
In that case you should go with some other broker. There are provision for NRIs to open both PIS and NON-PIS accounts. If you are facing any issues then you can take our help, we will help you open an account.
To know more about the account opening process or new age asset classes you can schedule a call with us using this link: calendly.com/sbnri-us/30min?YT&
NRO non-PIS account is best to invest in stocks & charges are also less as compared to NRE PIS or NRE non-PIS (until or unless you want to repatriate that money to others county).
That's true
In Nro non pis account we can buy shares in bse?
Tax
tax deductions are upto 30% on NRO accounts. Is it the same for NRE PIS accounts too?
If I use NRO non - PIS account and later want to repatriate will this be possible? If yes, what are the conditions that I need to fulfill?
If you use an NRO non-PIS account for investing in public sector bonds, you will be able to repatriate the principal and interest earned on the bonds after paying taxes as per the current regulations. You will need to fulfill the following conditions for repatriation:
1) You will need to submit the required documentation to the bank, including proof of remittance, tax clearance certificates, and PAN card.
2) You will need to pay taxes on the interest earned on the bonds as per the current tax laws.
3) You will need to show proof that the funds being repatriated are the proceeds from the sale of the bonds and not from any other source.
4) You will need to show that the funds being repatriated were originally remitted to the NRO account from outside India.
For more information Kindly schedule a call with SBNRI NRI Documentation Expert using this link: sbnri.dayschedule.com/taxationweb
Sir in which situation you should decide to either open non pis or pis with Nro account??
Hi, If you want to invest in almost all the options like Stocks, IPOs, Pre-IPOs, Derivates, F&Os, etc. then go for NRO Non-PINS account.
For instant answers on all your NRI queries we recommend you to download our SBNRI application and get your doubts cleared by NRI specialised experts. sbnri.app.link/yQ67UbE44ob
What is the difference between investing in Nri PIS and NRO NON-PIS, other than repatriation and taxation? I mean can I invest in Index funds and mutual fund through non- pis account?
I have an NRE and NRO account. Also, have the PIS letter. I wish to open a demat trading acoount but dont have any income from India. So, in that case which one you suggest to use NRE PIS or NRO non PIS (as its mentioned recommended on Zerodha)
Thanks
If repatriation is not a concern then invest from NRO account, else go for NRE account.
what are conditions for repatriations from nro non-pis or it's not possible at all?
Hi, As long as the taxes been paid as prescribed by RBI(supported with proof, read 15 CA/CB) and source of funds can be produced, same can be repatriated up to NRO repatriation limits. However, the process might be a bit complex and not straight forward from bank to bank.
For instant answers on all your NRI queries we recommend you to download our SBNRI application and get your doubts cleared by NRI specialised experts. sbnri.app.link/yQ67UbE44ob
Can I buy n sale from NRE acct without NRE PIS. and in that case since dealing thro nre acct money can be got back on sale of shares in sane nre. Also can freely repatriate. Then why need NRE PIS
To invest in the Indian stock markets NRE/NRO PIS or NON-PIS account is a mandatory. The returns from NRE account are freely repatriable but returns from NRO account are not freely repatriable (there are certain conditions for that).
if I contact zerodha, will they help to open nro account, demat, non pis account? pls reply.
Hi Binoj, please reach out to us at services@sbnri.com and our team will help you with the process.
Helpful!! I might need your advice on different investment opportunities for me in India.
Thank you for being a viewer. You can schedule a call with our investment expert to know about investment opportunities in India for you. Here is the link: calendly.com/sbnri/sbnri-call-with-expert?month=2021-10
Namskaram
What is the process if we want to convert NRE/NRO account into saving account. Since we are back and now settled in India
If you are an NRI who has returned to India and would like to convert your NRE/NRO account into a regular savings account, you would need to follow these steps:
1. Contact your bank: The first step would be to get in touch with your bank where you hold the NRE/NRO account and inform them of your desire to convert it to a regular savings account. They will guide you through the process and provide you with the necessary forms and documentation.
2. Submit the required documents: You would need to provide the bank with documents such as your PAN card, Aadhaar card, passport, and proof of residence (e.g., utility bill, rental agreement) to support your request for conversion.
3. Complete the necessary formalities: You would also need to complete any other formalities required by the bank, such as filling out a conversion request form or signing an account closure form for your NRE/NRO account.
4. Follow up with the bank: It is important to follow up with the bank to ensure that the conversion process is completed smoothly and within a reasonable time frame. You may also want to confirm if there are any fees or charges associated with the conversion process.
Once the conversion process is complete, your NRE/NRO account will be closed, and the balance will be transferred to your new savings account. As a resident Indian, you can hold and operate a regular savings account in India without any restrictions.
NRO non PIS is to invest in everything except intraday, and NRO PIS for only stocks ... So what is the benefit of NRO PIS and also what is the difference between NRE PIS and NRE non PIS....
If with NRO non PIS and NRE non PIS we can invest in MF, Stocks and IPO then with which one we should go
You can get it converted.
Hi - great video -
Questions:
- Other than repatriability, is there any other advantage of using a NRE-PIS to invest in Indian stocks?
- can i invest in Indian stocks using my NRO non-pis account? If yes, i guess there will only be the brokerage fee and no reporting (to RBI) fee will be charged, is that correct?
- Along the lines of RBI reporting charges, what does say 100 Rs. of reporting charge per certificate of purchase/sale? Does a certificate here mean a single transaction or the number of shares? Sorry, this might be super dumb question.
Thanks
If Repatriation is not a major factor then it is better to go for NRO NON-PIS Account. You have to pay brokerage fee with no additional reporting charge.
Per Certificate means the the end of the day contract. Means if you only sell or buy then 100 rupees. If you sell and buy in that day then 200 rupees.irrespective of how many sell or buy just considering buy factor and sell factor
Can we invest in mutual funds with NRE PIS or NRE NON PIS?
Of course you can invest using an NRE PIS or NRE NON PIS Accounts. Although, even if you don't have a demat account you can get your KYC done and invest in Mutual funds digitally.
You can use this link to invest in Mutual Funds digitally: sbnri.app.link/ay2mmvtndpb
I have existing residential zerodha account,m moving to Dubai nxt week. How can I invest in stock from
existing account? Through nro non pis account?
You need to change your Demat from resident to NRO, you can connect your broker for same.
@@SBNRISimplifyingBankingforNRIs thanks shd I close my residence dmat account?
Can we trade in options through nro pis account?
NRIs are allowed to invest in Future & Options Trading via NRO-NON PIS Account. The profits are taxed at 30% by the IT Department
It was informative, great work. But i have doubt in video at 4:20 you said that you should go with NRE PIS account to invest in indian stocks not with NRO NON PIS account. But at 6:10 you are saying that with NRO NON PIS you can trade as well as invest in IPOs etc. could you please make it clear.
Same query..
Hi, If you want to invest in almost all the options like Stocks, IPOs, Pre-IPOs, Derivates, F&Os, etc. then go for NRO Non-PINS account.
For instant answers on all your NRI queries we recommend you to download our SBNRI application and get your doubts cleared by NRI specialised experts. sbnri.app.link/yQ67UbE44ob
@@SBNRISimplifyingBankingforNRIs Great content Susheedha. Just question regarding NRO PIS account, in which scenario this account will be used? Why you want to PIS with NRO account? if we can use all options like Stocks, IPOs, Pre-IPOs, Derivates, F&Os, etc
Hi Is Nro PIS account mandatory? Or I can open non PIS account?
It's not mandatory. For more details schedule a video call with NRI investment experts calendly.com/sbnri-us/30min?month=2022-03
It's not mandatory. For more details schedule a video call with NRI investment experts calendly.com/sbnri-us/30min?month=2022-03
How we can start with non pis account in Zerodha?
You can share your PAN card details at services@sbnri.com And team Zerodha will be reaching out to you in next 24hrs to help you onboard.
Question: If i open a PIS account , does that block me from having my other Brokerage account in the country i am living. Example If i live in UK and i am perm resident. Can i have PIS account and Brokerage account from lets say Fidelity in U.K
Opening a PIS (Portfolio Investment Scheme) account in India does not necessarily block you from having a brokerage account in the country you are residing in.
However, you would need to check with the specific rules and regulations of both India and the country you are residing in to ensure compliance. In general, PIS accounts are used by NRIs (Non-Resident Indians) to invest in the Indian stock market, and the regulations regarding their use can be quite complex.
It's best to consult with SBNRI Investment Expert to determine the best course of action for your specific situation. Schedule a call using this link: sbnri.dayschedule.com/investweb
Sir if you want to open NR account and demat account do let me know
Your explanation is crystal clear ❤
Can I open NRO NON PIS account in India before go to abroad
Yes if:
“You are already NRI as defined by Fema law.”
4.26 using NRO-Non PIS you said we cant cant invest in stock market. i think its for NRE non PIS
If an NRI wishes only to invest into Stocks then in that case go with NRE PIS or Non PIS account but in case of Stocks, ESPOs, MF, F&O and other assets one should always opt-in with NRO Non PIS account.
I don't think there is anything called as NRE non PIS Account in Demat Accounts? Is the video wrong then?
Hey Arihant
The NRE Non PIS Account takes care of selling all those shares which are not allowed under PIS. The NRE Non-PIS account can be used for trading in Shares acquired under IPO, ESOPs
Can I invest in anything and everything through Non PIS NRO account. I don't want to repatriate ever in future.
Yes, an NRO NON PIS Account allows you to invest in the Indian stock markets
@@SBNRISimplifyingBankingforNRIsHi!
Just a query
So if I am nri and I am transferring all my money to my nre account and then from nre to my nro account.
Is it taxable?
I mean if I am keeping it on nre it is not taxable since that is my foreign income.
But if the same money I transfer to my nro is it taxable?
@@lostsoul2692same question I have. Is it taxable, if I don't deduct money from stock market to nro account soon.
Can an individual have both PIS and Non PIS account
Yes, an individual can have both a PIS (Portfolio Investment Scheme) and non-PIS account.
The PIS account is a special type of bank account that is required by NRIs (Non-Resident Indians) or PIOs (Persons of Indian Origin) to invest in the Indian stock market. The PIS account allows NRIs/PIOs to invest in stocks under the guidelines of the Reserve Bank of India (RBI). The PIS account is mandatory for NRIs/PIOs who want to invest in the stock market on a repatriable basis (i.e. the funds can be transferred back to their foreign bank account).
On the other hand, a non-PIS account is a regular bank account that can be used for any purpose, including transactions that do not fall under the PIS guidelines. For example, an NRI can have a non-PIS account to receive income earned in India or to make payments for local expenses.
It is important to note that any transactions that fall under the PIS guidelines need to be done through the PIS account. If an NRI/PIO wants to invest in the Indian stock market on a non-repatriable basis (i.e. the funds cannot be transferred back to their foreign bank account), they can do so through their non-PIS account.
In summary, an individual can have both a PIS and non-PIS account, but they need to ensure that they use the appropriate account for transactions that fall under the PIS guidelines.
What’s the difference between NRO NON PIS and NRO PIS ?
You didn’t explain that part clearly.
Hi Vishwas, NRO PIS account is used to invest in stocks. However, if you have NRO Non-PINS then you can invest in stocks, IPOs, Pre-IPOs, Derivates and almost all options except Intraday trading.
@@SBNRISimplifyingBankingforNRIs Sir, in that case, everyone will prefer NRO NON-PIS. Anything not possible with this NRO NON-PIS account and possible with NRO PIS account? Please clarify.
I think its a mistake, you can invest in indian stocks with NRO non pis
You can invest in almost all the options using NRO-NON PIS Account except Intraday trading