| Topic : NRI Investment Issues |
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Posted in Community :
Balancing my investment portfolio
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Activity:
Question posted: 06 03 2008 01:54:10 +0000,
2 answers, 299 views, last activity
04 01 2011 06:39:49 +0000
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Answered by
bobby singh, Freelancer, Construction
| 04 01 2011 06:39:49 +0000
Not Rated
okay
Answered by
Neha Tiwari, Sr. Associate, AXIS Bank
| 06 03 2008 01:55:01 +0000
Not Rated
- Non Resident Indian (NRIs) and Persons of Indian Origin (PIOs) can purchase/sell shares/convertible debentures of Indian companies on Stock Exchanges under Portfolio Investment Scheme. For this purpose, the NRI/PIO has to apply to a designated branch of a Bank which deals in Portfolio Investment. All sale/purchase transaction is to be routed through the designated branch.
- An NRI or a PIO can purchase shares up to 5% of the paid up capital of an Indian company. All NRIs/PIOs taken together cannot purchase more than 10% of the paid up value of the company. (This limit can be increased by the Indian company to 24% by passing a General Body resolution).
- The sale proceeds of the repatriable investments can be credited to the NRE/NRO etc. accounts of the NRI/PIO whereas the sale proceeds of non-repatriable investment can be credited only to NRO accounts.
- The sale of shares will be subject to payment of applicable taxes.
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