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Topic : NRI Investment Issues
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Balancing my investment portfolio

Asked by : Rajat Agarwal, Associate, ING
Industry : Asset Management
Functional Area : Capital Management
Activity: Question posted: 06 03 2008 01:54:10 +0000, 2 answers, 460 views, last activity 04 01 2011 06:39:49 +0000
  Answered by     bobby singh, Freelancer, Construction  | 04 01 2011 06:39:49 +0000
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  Answered by     Neha Tiwari, Sr. Associate, AXIS Bank  | 06 03 2008 01:55:01 +0000
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  • 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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