NRI Trading

For NRIs we made online investing and trading so easy, inexpensive & awfully convenient. NRIs can buy stocks and trade in equity futures & options from anywhere around the world. We assure you a truly wonderful experience.

About NRI

Non-Resident Indian (NRI) means a 'person resident outside India' who is a citizen of India or is a person of Indian origin.

NRI Investment Options in Indian Stock Market

NRIs can purchase shares or convertible debenture of an Indian Company, Invest in Exchange Traded Funds (ETFs) and trade in futures & options segment.

As per the recent circular by RBI, NRIs are now permitted to have access to Exchange Traded Currency Derivatives (ETCD) market in India.

Note: Intra-day trading in cash segment is not allowed to NRIs.

  • ₹100 per executed order (Lowest NRI Trading Fees).
  • No minimum commitment. No deposites.
  • Zero AMC for demat & trading account.

Why trade with ProStocks?

  • We are SEBI registered stock broker and depository participant.
  • Trade on Equities, Futures, and Options on the NSE and BSE.
  • We offer cheapest brokerage for NRI trading. You pay ₹100 per executed order, irrespective to segment or size of the order.
  • Our powerful trading platform include free mobile trading app, website and installable trading terminal.

NRI Trading Account Enquiry

Getting started with ProStocks

You're one step closer to open NRI Trading Account, and we're here to guide you through this process to make sure clearly understand the steps of the process.

Just send us an email at sales@prostocks.com with your contact information. We'll get back to you within a day time.

You can also call at +91 22 38 110 110 number between 9:00 am to 8:00 pm IST on week days.

FAQs

Following are the document required for opening NRE Trading and Demat account:

  1. Self-certified copy of PIS permission letter issued by the Banker
  2. Attested copy of PAN card,
  3. Attested copy of Overseas address proof – Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (not older than 2 months)/Notarized copy of rent agreement/Leave & License agreement/ Sale Deed. NRI residing in Gulf countries and not having any of the above overseas address proof can give Declaration of P.O. Box in your residing country,
  4. Self-certified copy of Indian address proof, if any. Providing Indian address in KYC is voluntary. You may provide for your own benefit.
  5. Passport size photograph
  6. In case of an Indian Passport: Attested copy of valid passport with copy of Valid Visa
  7. In the case of Foreign Passport: Attested copy of valid passport, Copy of PIO/OCI card.
  8. Proof of Bank account (a cancelled cheque leaf of your NRE savings bank account)

 

Note 1: Copy of PAN card, Passport, Power of Attorney and Foreign address proof are required to be attested. Attestation can be done by the Indian Embassy or any other competent authority like Consulate General or Notary Public or Overseas Banker or Indian Banker. The attesting authority should affix a “verified with original” stamp, name, designation, signature and date on the said documents.

 Note 2: Attestation is not required when your KRA status and IPV status is Y ( Yes ) and no change is required from your previous KRA. For checking your KRA status go to KYC inquiry menu on www.cvlkra.com

The following are the online and offline account opening charges for NRE and NRO Trading and Demat Account of NRI with ProStocks:

For Equity Delivery Trades :
Your account opening is Free.   Your Trading and Demat Account is lifetime AMC Free.
ProStocks will open your NRE and NRO Trading and Demat Account for free. Your Trading and Demat Account will also be lifetime AMC ( Annual maintenance charge ) free. We collect Rs 1000 refundable deposit towards Demat Account.

 

For Equity Futures and Options Trades :
Your account opening is Free.   Your Trading and Demat Account is lifetime AMC Free.

ProStocks will open your NRO Trading and Demat Account for Free. Your Trading and Demat Account will also be lifetime AMC ( Annual maintenance charge ) Free. We collect Rs 1000 refundable deposit towards Demat Account.
You are no longer required to open custody account with ISSL or anyone when you do equity derivatives trades with ProStocks. You will save a significant amount, which you were required to pay to Custodian. ProStocks will take your CP code from the exchange which will allow you to trade equity derivatives at NSE as well as BSE.

Annual Maintenance Charges (AMC) for a trading account with ProStocks is Nil (Zero).
The Demat Account for NRIs is lifetime free (no AMC) with Rs 1000 refundable one time deposit.

ProStocks is now Clearing Member for Equity Futures and Options.

You are no longer required to open custodian account with ISSL or anyone when you do equity derivatives trades with ProStocks. You will save a significant amount, which you were required to pay to Custodian.

ProStocks will take your CP code from the exchange which will allow you to trade equity derivatives at NSE as well as BSE.

For Equity Delivery Trades :

ProStocks supports the following five Banks:

  1. Axis Bank, 
  2. HDFC Bank,
  3. IndusInd Bank,
  4. Kotak Bank and
  5. Yes Bank

for NRI Equity Delivery Trades. Most Stock Brokers in India do not support more than two Banks. ProStocks will open your Trading Account and Demat Account. ProStocks can help you to open your Bank Account. ProStocks banking partner will take care of picking up the courier, wherever you are in the world


For Equity Futures and Options Trades :

NRI need NRO bank account to trade in equity Futures and Options.

ProStocks allow NRO Saving Bank Account of any bank for Equity Derivatives Trades. Custodian account is not required for trading in equity derivatives. NRO PIS Bank account is not required for Equity Futures and Options. ProStocks is Clearing Member and can clear trades of NRO in Equity Derivatives as NSE and BSE.

NRE or NRO or Both Account with ProStocks

ProStocks is Stock Broker as well as Depository Participant. ProStocks will open your Trading as well as Demat Account.

Non-Resident Indian (NRI) Trading Account with repatriation benefit is called Non-Resident External (NRE) Trading Account and is required to buy and sell shares, securities, bonds, exchange-traded funds, mutual funds etc.

Gulf Indian (NRI) Trading Account without repatriation benefit is called Non-Resident ordinary (NRO)Trading Account and is required to buy and sell shares, securities, bonds, exchange-traded funds, mutual funds etc. and trade in Equity Futures and Options.

Non-Resident Indian (NRI) Demat ( Depository Beneficiary) Account with repatriation benefit is called Non-Resident External (NRE) Demat Account and is required to electronically hold ( in dematerialized format ) shares, securities, bonds, exchange-traded funds, mutual funds etc.

Non-Resident Indian (NRI) Demat ( Depository Beneficiary) Account without repatriation benefit is called Non-Resident ordinary (NRO) Demat Account and is required to electronically hold ( in dematerialized format ) shares, securities, bonds, exchange-traded funds, mutual funds etc.

NRI can open NRE Trading and Demat Account or NRO Trading and Demat Account or both, NRE as well as NRO Account.

 

NRE Account with Bank of NRI

You will also need to open NRE PIS Bank Account besides NRE Saving Bank Account with your Bank. ProStocks can assist you in opening your Bank Account.

ProStocks will map NRE PIS Bank Account with your NRE Trading Account and NRE Saving Bank Account with your NRE Demat Account.

The dividend will be credited to your NRE Savings Bank Account by the respective companies whose shares are held in your NRE Demat account on the record date for dividend.

You need to keep balance in your NRE PIS Bank Account (do not transfer to ProStocks ) for buying. Your PIS Bank will inform us balance of your PIS bank account and ProStocks will provide you buy limit based on balance reported by your Bank. Once you buy, ProStocks will submit one copy of your Buy Contract Note to your PIS Bank. Your PIS Banker will debit your PIS bank Account and credit ProStocks bank account.
Similarly, when you sell the shares, ProStocks will submit one copy of your Sell Contract Note to your PIS bank. Your PIS Banker will debit ProStocks bank account and credit your PIS bank account minus tax liability if any.

 

NRO Account with Bank of NRI for Equity Delivery Trades

You will also need to open NRO Saving Bank Account and one more NRO Saving Bank Account, which is now called NRO Invest Account ( similar account was earlier called NRO PIS Bank Account). ProStocks can assist you in opening your Bank Account.

ProStocks will map NRO Invest Bank Account ( earlier NRO PIS Bank Account ) with your NRO Trading Account and NRO Saving Bank Account with your NRO Demat Account.

The dividend will be credited to your NRO Savings Bank Account by the respective companies whose shares are held in your NRO Demat account on the record date for dividend.

You need to keep balance in your NRO Invest Bank Account (do not transfer to ProStocks ) for buying. Your NRO Invest banker will inform us balance of your NRO Invest Bank Account and ProStocks will provide you buy limit based on balance reported by your Bank. Once you buy, ProStocks will submit one copy of your Buy Contract Note to your Bank. Your NRO Invest Banker will debit your NRO Invest Bank Account and credit ProStocks bank account.
Similarly, when you sell the shares, ProStocks will submit one copy of your Sell Contract Note to your NRO Invest Bank. Your NRO Invest Banker will debit ProStocks bank account and credit your PIS bank account minus tax liability if any. RBI reporting is not required for NRO Invest bank Account after February 2016 but compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax ( TDS ) is required.


NRO Account with Bank of NRI for Equity Futures and Options ( derivatives ) Trades :
You will need to open NRO Saving Bank Account. ProStocks can assist you in opening your Bank Account.

ProStocks will map NRO Saving Bank Account with your NRO Trading Account. You can have many NRO Saving Bank Account with same Bank or many Banks and all can be mapped to your Trading Account for transferring funds to ProStocks.
You can have NRO Savings bank Account in any Bank of your choice and there are no restrictions on the number ofBank-supported. You will operate your NRO Saving Bank Account for equity derivatives trades like Resident Indian. You can transfer funds to us any time, you can withdraw your funds from ProStocks any time with just one exception, compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax ( TDS ).

ProStocks will do compliance of Section 195 of Indian Income Tax Act, 1965 for a fixed fee of Rs 12k p.a and you would be able to trade in equity futures and options just like Resident Indian. No Custody Account, No hassle of dealing with Custodian besides Stock Broker.

You are no longer required to open custody or custodial account with ISSL or anyone when you do equity derivatives trades through ProStocks. Since you are not required to open Custody Account, you will save a significant amount, which was otherwise, you were required to pay to Custodian. ProStocks will take your CP code from the exchange which will allow you to trade equity derivatives at NSE as well as BSE.

You need to keep balance in your NRE PIS Bank Account (do not transfer to ProStocks ) for buying through your NRE trading account and in your NRO Invest Bank Account (do not transfer to ProStocks ) for buying through your NRO Trading.

Limits/exposure/margin/balance, whatever name called for buying shares through your trading account with ProStocks,
ProStocks will update your trading account based on balance received from your Bank for Limits/ exposure/ margin/ balance, whatever name called, for buying shares through your trading account.

Please note that we receive only one file from your banker in the morning session. Hence any transfers you make to your PIS account during the day may not be captured in your banker's file sent to us and hence may not be updated in our RMS for margins. So kindly ensure that your PIS account is sufficiently funded the previous day itself.

Once you buy, ProStocks will submit one copy of your Buy Contract Note to your Bank. Your Banker will debit your NRO Invest Bank Account or NRE PIS Bank Account, whichever may be the case and credit to ProStocks bank account. Similarly, when you sell the shares, ProStocks will submit one copy of your Sell Contract Note to your Bank. Your Banker will debit ProStocks's bank account and credit your NRO Invest Bank Account or NRE PIS Bank Account, whichever may be the case minus tax liability if any.
RBI reporting is not required for NRO Invest bank Account after February 2016 but compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax ( TDS ) is required.
You would have come to know the answer to the following question:

As per RBI regulations, NRI's are required to settle their purchase and sale transactions in exact rupee amount. Hence no leverage can be provided for trading to NRI's in equity cash. 

Portfolio Investment Scheme PIS is the scheme of RBI through which NRIs and PIOs can purchase and sell shares and convertible debentures of Indian companies on a recognized stock exchange in India by routing all their transactions through a designated bank branch on repatriation benefit basis.

There are few branches of some Banks that are designated by RBI that a NRI can have account with in order to invest in Indian Share Market on repatriation benefit basis. NRI investing through NRO Account are not required PIS Account. Any existing NRO PIS Account will be converted to NRO Saving Bank Account post amendment in FEMA in Feb 2016.

PIS stand for Portfolio Investment Scheme. Any NRI or PIO holder wishing to invest in Indian Share Market on repatriation benefit basis must have PIS Bank Account with one designated Bank in India and PIS Trading Account with SEBI registered Stock Broker in India. It is meant for investing in Indian Share Market for delivery based buy and sell transaction.

Each NRI  can purchase  maximum of 5 % equity shares of listed company subject to overall limit for listed equity shares of each company on repatriation benefit basis. NRI investment in equity shares of listed company without repatriation benefit is treated at par with resident Indian and there is no upper limit. Please refer the recent amendment in FEMA on RBI website at following link Foreign Exchange Management Act Notification and Foreign Exchange Management Act Notification in PDF

Please register yourself on https://www.prostocksaccount.com/ on left hand side. Please fill your name, email id and International Area Code and Mobile Number, You don’t have to include + Sign in ISD field, select status as Non Resident and press Generate OTP. For NRI's, OTP will be generated and sent to email id with subject “ProStocks Registration OTP”.

Insert your OTP and validate, after validation you will be taken to next page. On this page your need to submit your PAN Number, Name as PAN Card, Date Of Birth, Country of Birth and Type of account you wish to open, Aadhar Card is an optional field.

As soon as your OTP get validated you will receive email stating that your login id and your password and whenever you login again, you need to use right hand side login as you are already registered.

NRO Trading Account for Equity Futures and Options ( derivatives ) Trades :

NRIs are allowed to invest in futures & options segment of the exchange out of Rupee funds held in India on non-repatriation basis, subject to the limits prescribed by SEBI.

ProStocks will open your NRO Trading Account for Equity Future and Options.

ProStocks will map NRO Saving Bank Account with your NRO Trading Account. You can have multiple NRO Saving Bank Account with same Bank or multiple Banks and all can be mapped to your Trading Account for transferring funds to ProStocks. You can have NRO Savings bank Account in any Bank of your choice and there are no restrictions on the number of Bank-supported. You will operate your NRO Saving Bank Account for equity derivatives trades similar to Resident Indian. You can transfer funds to us any time, you can withdraw your funds from ProStocks any time with just one exception, compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax ( TDS ).ProStocks will do compliance of Section 195 of Indian Income Tax Act, 1965 for a fixed fee of Rs 12k per annum and would be able to trade in equity futures and options just like Resident Indian. No Custody Account, No hassle of dealing with Custodian as well as Stock Broker.

You are no longer required to open custody account with ISSL or anyone when you do equity derivatives trades through ProStocks. Since you are not required to open Custody Account, you will save a significant amount, which was otherwise, you were required to pay to Custodian. ProStocks will take your CP code from the exchange which will allow you to trade equity derivatives at NSE as well as BSE.

 

NRO Account with Bank of NRI for Equity Delivery Trades :

You will also need to open one more NRO Saving Bank Account, which is now called NRO Invest Account ( similar account was earlier called NRO PIS Bank Account). ProStocks can assist you in opening your Bank Account.

ProStocks will map NRO Invest Bank Account ( earlier NRO PIS Bank Account ) with your NRO Trading Account and NRO Saving Bank Account with your NRO Demat Account.

The dividend will be credited to your NRO Savings Bank Account by the respective companies whose shares are held in your NRO Demat account on the record date for dividend.

You need to keep balance in your NRO Invest Bank Account (do not transfer to ProStocks ) for buying. Your NRO Invest banker will inform us balance of your NRO Invest Bank Account and ProStocks will provide you buy limit based on balance reported by your Bank. Once you buy , ProStocks will submit one copy of your Buy Contract Note to your Bank . Your NRO Invest Banker will debit your NRO Invest Bank Account and credit ProStocks bank account . Similarly , when you sell the shares , ProStocks will submit one copy of your Sell Contract Note to your NRO Invest Bank. Your NRO Invest Banker will debit ProStocks bank account and credit your PIS bank account minus tax liability if any . RBI reporting is not required for NRO Invest bank Account after February , 2016 however compliance of Section 195 of the Indian Income Tax Act , 1965 with regard to with-holding tax ( TDS ) is required .

FEMA has been amended however Section 195 of Income Tax Act has not been amended and it requires deduction and deposit of withholding tax. Traditionally, banks through NRO PIS Bank Account were computing, deducting and depositing withholding tax liability.

Majority of the PIS Banker does not want to lose PIS Account Charges revenue and also as solution to above problem of deduction and deposit of withholding tax, has agreed to continue to provide the same service at same cost in NRO Saving Account.

Your banker will generate Internal Reference Number (similar to erstwhile PIS number received from RBI) and insert in the software so your NRO Saving Bank Account will behave as if this is NRO PIS Account.

From 1st Feb2019, all long term capital gains resulting from the sale of equity investment on the recognised stock exchange are subject to tax. All Equity Investment held for more than 365 days are treated as a long term when sold on the recognized stock exchanges and are subject to tax as per the following table :

Date of acquisition Cost of acquisition Rate of Long Term Capital Gain Tax
Shares acquired after 31st January 2018 The actual cost of acquisition 10% over and above LTCG of Rs 1 lakh
Shares acquired prior to 1st Feb 2018 Higher of (Actual cost of acquisition or closing price of 31st Jan 2018 ) 10% over and above LTCG of Rs 1 lakh

Your banker will not link more than one stock broker to your bank account as balance is required to be reported to your stock broker. However you can open more than one NRO saving bank account and can invest through more than one stock broker. There is no restriction on number of bank or number of accounts with same bank. 

You are not required to sell your holdings when your status changes from non- resident to resident or from resident to non-resident.
You just need to change the status of your Demat Account.

The Following modification is permitted in your existing Demat account :

 

Sr No

Change in Residential Status

Change permitted in Demat Account

1

Resident Indian to Non-Resident Indian

Existing resident Demat account can be converted to Non-Resident Demat Account Sub Type Non-Repatriable ( NRO )

2

Non-Resident to Resident Indian

Exiting NRO Demat Account to Resident Demat Account

3

Non-Resident to Resident Indian

Existing NRE ( Repatriable ) Demat Account to Resident Demat Account

NRIs can purchase shares or convertible debenture of an Indian Company, Invest in Exchange Traded Funds (ETFs) and trade in futures & options segment.

As per the recent circular by RBI, NRIs are now permitted to have access to Exchange Traded Currency Derivatives (ETCD) market in India.

Note: Intra-day trading in cash segment is not allowed to NRIs.

"Detailed guidelines and procedure to hedge currency risk  through exchange traded currency derivatives is awaited  from BSE and NSE , post amendment in FEMA."

As per the recent circular by RBI Non Resident Indians (NRIs) are now permitted to have access to Exchange Traded Currency Derivatives (ETCD) market in India.

As of now, NRIs are permitted to hedge their Rupee currency risk through OTC transactions with (Authorized Dealer) AD banks. With a view to enable additional hedging products for NRIs to hedge their investments in India, it has been decided to allow them access to the exchange traded currency derivatives market to hedge the currency risk arising out of their investments in India.

NRIs may take positions in the currency futures / exchange traded options market to hedge the currency risk on the market value of their permissible (under FEMA, 1999) Rupee investments in debt and equity and dividend due and balances held in NRE accounts.

"Detailed guidelines and procedure to hedge currency risk through exchange traded currency derivatives is awaited from BSE and NSE , post amendment in FEMA."

Your investment in India through the Stock Market is governed by the following regulation:

  1. Foreign Exchange Management Act ( FEMA ) supervised by RBI
  2. Income Tax Act, 1961 supervised by Income Tax Department, Govt. of India
  3. SEBI regulation for Exchanges, Stock Broker and Depository

You can invest on Repatriable Basis ( NRE ) or Non-Repatriable Basis ( NRO ) or both.

When you open NRE PIS Bank Account: Your Bank provided you with the following THREE services besides usual banking Services :

  1. Applying to RBI and taking PIS (Portfolio Investment Scheme ) permission. This is a one-time activity. This is a requirement under FEMA.
  2. Reporting all your transaction routed through PIS Bank Account to RBI on a regular basis. This is a requirement under FEMA.
  3. Calculating, Deducting and Depositing you tax liability arising out of shares sold through PIS Trading Account and proceeds credited to PIS Bank Account. This is required due to Section 195 of the Indian Income Act,1961.

FEMA has been amended in Feb 2016, and NRI investing through Non-Repatriable Basis ( NRO ) route are not required to take PIS permission and hence no requirement of reporting transaction to RBI.

In a nutshell, Service Number 1 and 2 mentioned hereinabove are no longer required for NRO Account. However, Service Number 3 is still applicable.

Banks are willing to provide Service Number 3 as mentioned hereinabove for NRO Account BUT at the same taking charges which they are taking for NRE PIS Account. In such case, your Banker will open your normal NRO Saving Bank Account, will insert Dummy PIS permission Number, so their software will behave as if this is PIS account and will rename this as NRO Investment Account and will provide you Tax Deduction Service.

When Bank provides this service, Stock Broker need to follow the same procedure even for NRO Trading and Demat Account which they are following up for NRE Trading and Demat Account. For this reason, brokerage remains the same whether you open NRE Trading and Demat Account or NRO Trading and Demat Account.

Technically, you do not need NRO PIS Account but practically you need NRO PIS Account or so-called NRO Investment Account.

In case NRO Account is opened just to save the cost of PIS Account however funds are brought in from abroad, it is advisable to open NRE PIS Account. If all cost remains the same, there is no point in giving away repatriation rights and or benefit which comes with NRE Account.

NRO Trading Account for Equity Futures and Options ( derivatives ) Trades :
NRIs are allowed to invest in futures & options segment of the exchange out of Rupee funds held in India on non-repatriation basis, subject to the limits prescribed by SEBI.

ProStocks will open your NRO Trading Account for Equity Future and Options. ProStocks will take your CP code from the exchange which will allow you to trade equity derivatives at NSE as well as BSE.

ProStocks will map your NRO Saving Bank Account with your NRO Trading Account. You can have many NRO Saving Bank Account with same Bank or many Banks and all can be mapped to your Trading Account for transferring funds to ProStocks. You can have NRO Savings bank Account in any Bank of your choice and there are no restrictions on the number of Bank-supported. You will operate your NRO Saving Bank Account for equity derivatives trades similar to Resident Indian. You can transfer funds to us any time, you can withdraw your funds from ProStocks any time with just one exception, compliance of Section 195 of the Indian Income Tax Act, 1965 with regard to withholding tax ( TDS ).

ProStocks will do compliance of Section 195 of Indian Income Tax Act, 1965 for a fixed fee of Rs 12k per annum and would be able to trade in equity futures and options just like Resident Indian. No Custody Account, No hassle of dealing with Custodian besides stockbroker.

You are no longer required to open custody account with ISSL or anyone when you do equity derivatives trades through ProStocks. Since you are not required to open Custody Account, you will save a significant amount, which you were required to pay to Custodian.

 

You would have come to know the answer to the following question:

Why NRO Non-PIS Trading Account Brokerage is the same or equal to NRE PIS Trading Account?

Does opening NRO PIS instead of NRE PIS make any sense?

WHAT DO YOU NEED TO KNOW ABOUT NRI INVESTMENT IN INDIA?

Regulations Governing NRI Investment in India?

Where can I find more information about NRI Trading Account?