India has emerged as one of the fastest growing financial markets in the world and is a preferred destination for investment among the global investor fraternity. Rising Investment Financials – will help you pick the best of products. At RIF, we believe in partnership driven by ethical and dynamic process for consistent wealth creation immaterial of bull runs or bear runs in the market. The Top Mutual Funds of India have always been a choice of investment for investors overseas. As an NRI, you can invest in mutual funds through RIF. We would provide the right & timely advice to choose your fund for investment. You can use the Non PIS bank account, either NRE or NRO to invest in mutual funds.
Rising Investment Financials is consortium of many Wealth Managers across the globe working together with a common goal of giving profitable returns and state of the art services to our global NRI Clientele.
Our NRI Clientele enjoy absolute convenience of anytime-transactions and online portfolio tracking.
Please Contact us in case of any queries at firstname.lastname@example.org or call us at +91 9810375004 (Mr. Humshad Charna)
A NRI is an Indian citizen who stays outside India.
a. For purposes of carrying out employment or any business or vocation.
b. Under circumstances indicating an intention to stay outside India for an uncertain duration.
Any Indian citizen deputed outside India for a temporary period in connection with employment.
A citizen of a foreign country (other than a citizen of Bangladesh or Pakistan) is a PIO if:
NRI can invest in the following products.
Any NRI/PIO can open two types of savings accounts with any bank in India. They are NRE and NRO bank accounts.
A NRE bank account is an external saving bank account opened for Non resident Indians. This is why it is known as Non-Resident External account. Since it is an external account, any monies lying in NRE account can be taken outside the country or in other words, the monies lying in NRE account are fully repatriable. This money can be converted into any foreign currency at the behest of the account holder and can be remitted outside the country.
A NRO bank account is an ordinary saving bank account opened for Non resident Indians. This is why it is known as Non-Resident Ordinary account. Since it is an ordinary account i.e. as good as a normal saving bank account, monies lying in NRO account cannot be taken outside the country or in other words, the monies lying in NRO account are not repatriable.
Yes money can be freely transferred from NRE account to NRO account.
No, money cannot be transferred from NRO account to NRE account.
RBI has advised banks to re-designate such accounts as resident accounts on return of the account holder to India.
As per section 6(5) of FEMA, NRI can continue to hold the securities, which he/she had purchased as a resident Indian, even after he/she has become a non-resident Indian, but has to transfer the shares to his NRO (Non Resident Ordinary) account
NRIs are permitted to make direct investments in shares/ debentures of Indian companies/ units of mutual fund. They are also permitted to make portfolio investments i.e . purchase of share / debentures of Indian Companies through stock exchange. These facilities are granted both on repatriation and non-repatriation basis.
Yes. The issuing company is required to issue shares to NRI on the basis of specific or general permission from GOI/RBI. Therefore, individual NRI need not obtain any permission.
Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India (RBI) defined in Schedule 3 of Foreign Exchange Management Act 2000 under which the 'Non Resident Indians (NRIs)' and 'Person of Indian Origin (PIOs)' can purchase and sell shares and convertible debentures of Indian Companies on a recognized stock exchange in India by routing all such purchase/sale transactions through their account held with a Designated Bank Branch.
Any NRI or a PIO wanting to trade/make fresh investments in the Indian Equity Secondary Market needs and must have one PIS account with only one designated bank in India.
For all the Indian companies or companies listed on Indian stock exchanges, there are certain limits which have to be monitored under FEMA regulations. For any company the foreign investment into that company cannot cross certain limit. This limit is different from company to company and sector to sector. Also individually any NRI or a PIO cannot invest more than 5% in any Indian company.
NRI/PIO can open only one PIS account with any designated banks (Preferred bank - UTI Bank) in a prescribed format for PIS account, upon which the bank can issue a PIS approval letter to the investor.
No. Any investment done in secondary market should be routed through a PIS account. For other products the investment can be done through direct subscription route.
It is a normal savings bank account which can be opened with any bank in India. Non-PIS is an account for which the transactions are not reported to RBI. This account takes care of selling all those shares which are not allowed under PIS. Shares acquired under IPO or received as gift or bought as resident Indian can be sold under Non-PIS account.
There are two types of NON PIS account
As per the regulations NRIs are allowed to invest up to a certain percentage of the total paid up capital of the company by directly subscribing to the equity/convertible debentures of the company either though a public offering made by the company or through private placements on one to one basis. Regulations provide for different ceilings on such investments based on the industry to which the company belongs and also the nature of investments (repatriation / non-repatriation basis).
No. Investments made by NRIs though subscription to Initial Public Offerings (IPO's) or Private placements are not covered by Portfolio Investment Scheme. Such investments are covered by RBI's regulations with regard to Foreign Direct Investments.
No. NRIs do not require any permission to invest though Initial Public Offerings (IPO's) or Private placements. In such cases, the Issuing Company should comply with all necessary regulations for issuing securities to a person resident outside India.
No. NRIs can sell such shares/debentures on the Exchange without any approval. However, while seeking the credit of sale proceeds to NRE/NRO account, the bank should be provided with the details regarding date of allotment and cost of acquisition to calculate the taxes, if any.
Yes. Investment can be made on repatriation as well as non-repatriation basis. However, an NRI will have to open NRE account as well as NRO account with designated bank branch as the sale proceeds of non-repatriation investment can only be credited to NRO account.
The repatriation of the sale proceeds, net of taxes, are allowed if the original purchase was made on repatriation basis and such investments were made out of funds from NRE/FCNR account or by means of remittance from abroad.
Corporate benefits may be in the form of dividend, interest, rights, bonus, etc. Any corporate benefit resulting out of investment in securities on non-repatriation basis will not carry the right of repatriation. Similarly any corporate benefit resulting out of investment in securities on repatriation basis will carry the right of repatriation. This is subject to change depending on prevailing RBI regulations.
NRI/PIO needs to open a demat account with an NBFC as explained above.
No. Securities received against investments under 'Foreign Direct Investment scheme (FDI)', 'Portfolio Investment scheme (PIS)' and 'Scheme for Investment' on non - repatriation basis have to be credited into separate demat accounts. Investment under PIS could be on repatriation or non - repatriation basis. Investment under FDI scheme is on repatriation.
Client submits a DRF form along with the physical share certificate to NBFC, who in turn forwards it to the Registrar & Transfer agent for confirmation from the company. After the confirmation is received the client a/c is credited.
As per regulatory guidelines, Tax (if applicable) has to be deducted at source for all the profits done in the equity market transactions. Before crediting sales proceeds it is the responsibility of the broker and the PIS cell to determine the appropriate Tax and deduct it at source.
TDS rate is different as per the tenure of the investment. It can be classified into
TDS is computed on the profit amount or the gain as per the applicable rate i.e. short term or long term on a First-In, First-Out (FIFO) basis.
For any TDS to be deducted and money to be remitted to bank account, there are three things which have to be verified.
Important: TDS is deducted only at the time of crediting sales proceeds.
Portfolio Management Services provides the benefits of diversification across assets, sectors, and funds. The experts in Portfolio Management combine best of breed investment of avenues as they aim to achieve optimal returns at managed levels of risk. It is transparent collective investments.
A mutual fund is nothing more than a collection of stocks and/or bonds. You can make money from a mutual fund in three ways:
You can invest in Mutual Funds through NON PIS account.
Equity investments are subject to market risks and there is no assurance or guarantee that the objective of the portfolio management service will be achieved. As with any investment in securities, the net asset value of the managed portfolios can go up or down depending on the factors and forces affecting capital markets. Past performance of the portfolios does not indicate the future performance.
International Equity division provides an opportunity for investors to scale up their investment horizon, by tapping into International Equity and Commodities markets.