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Q: Can an NRI and person resident in India have joint Demat account?

A: Yes. For the purpose of determining ownership of holding, the first holder is taken into account. Hence, even though other joint holders may be person resident in India, the sale proceeds of such...

• 16 Days ago
• NRI Accounting - Business and Finance
• See Answer

Q: Can securities purchase under repatriable and non-repatriable category be held in a single demat account?

A: No. An NRI must open separate demat accounts for holding 'repatriable' and 'non-repatriable' securities.

• 20 Days ago
• NRI Accounting - Business and Finance
• See Answer

Q: Does an NRI require any RBI permission to open demat account?

A: No permission is required from RBI to open a demat account. Holding securities in demat only constitutes a change in form and does not need any special permission.

• 20 Days ago
• NRI Accounting - Business and Finance
• See Answer

Q: Where can an NRI open a demat account?

A: NRI can open a demat account with any Depository Participant. The NRI needs to mention the type ('NRI' as compared to 'Resident') and the sub-type ('Repatriable' or 'Non-Repatriable') in the...

• 20 Days ago
• NRI Accounting - Business and Finance
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Q: Whether trading account can be opened for a person's resident outside India who had been allotted shares under the employee stock option scheme?

A: Listed Indian companies are allowed to issue shares under the Employees Stock Option Scheme (ESOPs), to its employees or employees of its joint venture or wholly owned subsidiary abroad who are...

• 22 Days ago
• NRI Accounting - Business and Finance
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Q: What are the documents that need to be submitted for opening an NPS account?

A: The following documents need to be submitted to your Bank (POP) for the opening of an NPS account: * Completely filled in subscriber registration form * Copy of Passport * Proof of Address, if...

• 25 Days ago
• NRI Accounting - Business and Finance
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Q: How and where can I open an NPS account?

A: NPS is distributed through authorized entities called Points of Presence (POP). Almost all the banks (both private and public sector) in India are enrolled to act as Point of Presence under NPS. To...

• 25 Days ago
• NRI Accounting - Business and Finance
• See Answer

Q: Is account operation with Power Of Attorney (POA) allowed under NPS for NRIs?

A: No, POA facility is not available in NPS.

• 28 Days ago
• NRI Accounting - Business and Finance
• See Answer

Q: Can an NRI open joint account in NPS?

A: No, the only individual account can be opened in NPS.

• 28 Days ago
• NRI Accounting - Business and Finance
• See Answer

Q: Can an NRI join in NPS?

A: Yes, an NRI between the age of 18 – 60 years, as on the date of submission of his/her application and complying with the extant KYC norms, can open an NPS account.

• 28 Days ago
• NRI Accounting - Business and Finance
• See Answer