NRI (Non-resident Indian )
Who can invest in India equity markets?
Any person residing out of India & holding a Person of India Origin (PIO) or Non-resident Indian (NRI) status can invest in Indian Equity market.
Currently, Reserve Bank of India (RBI) has banned Oversea Corporate Bodies (OCB) from investing afresh in the Indian market. However if they are holding old investments they can continue to do so or they can sell on the Indian Bourse.
Who is an NRI and PIO?
As per the Indian immigration law, a person residing out of India & holding an Indian passport is called an NRI. The Govt. of India has introduced a new identity & recongizes it as Person of India Origin (PIO) where a person whose forefathers were Indian citizens and have now settled in foreign countries. Their children are now treated as PIO.
How do I open a investment Account with Naman Securities & Finance Pvt. Ltd.?
The Client needs to fill in a Know You Client (KYC) form as prescribed by Securities and Exchange Board of India (SEBI). This prospect needs to provide basic information like Name, Address, Telephone and Email address in the form. The following documents need to be submitted:
- Affix A Photograph on the Know You Client (KYC) form with signature across it.
- Permanent account number from Income Tax dept. of India called Pan card.
- Photocopy of passport
- Proof of foreign residence as well as Indian residence . This could be something like driving license, photocopy of Social security card etc.
- Proof of Demat account; alternately you can also open demat account with Naman as we are a member of the Central Depository Services Limited (CDSL).
- Bank account details.