Unifi has been offering portfolio management services since 2002 presently serving over 290 families across 30 countries. This service is supported by a dedicated team responsible for compliance with RBI regulations and to maintain the high service standards synonymous with Unifi.
Most NRIs find it complex and are unclear about how to go about investing into the Indian stock markets. The lack of information regarding the fairly extensive documentation and account setup process has proved a hurdle for many Indians based overseas.
Without limit, purchase on repatriation basis:
NRIs may, without limit, purchase on non-repatriation basis:
The first step in investing in Indian Stock Markets is to get a Bank Account. This will of course be to deposit the funds that you seek to invest into India. As a Non-Resident, the funds you deposit will naturally be in a foreign currency. What you need to decide, however, is whether you want your funds to be held in the foreign currency or in Indian Rupees. In banking terms whether you want your account to be repatriable or non-repatriable.
In simple terms repatriable accounts allow you to take out the balance held in the account in India, while in case of non-repatriable accounts, the money cannot be taken outside of India.
A. Portfolio Investment Scheme (PINS)
Portfolio Investment Scheme (PINS) is a scheme of the Reserve Bank of India (RBI) under which the 'Non-Resident Indians (NRI's)' and 'Person of Indian Origin (PIOs)' can purchase and sell shares and convertible debentures of Indian Companies on a recognised stock exchange in India by routing all such purchase/ sale transactions through their account held with a designated Bank Branch. The designated Bank maintains a record of all investments done under PINS (PINS portfolio).
B. Non - PINS
Any investment other than under PINS. Typically, this includes:
You may have to open demat accounts of a specific combination if you already hold physical shares in that combination. Physical shares can be converted into electronic form in your demat account by submitting the certificates along with a demat request form. You should also open the required combination under the correct type of demat account:
PINS NRE - For shares acquired earlier under PINS on repatriation basis
PINS NRO - For shares acquired earlier under PINS on non-repatriation basis
Non-PINS NRE - For shares acquired earlier other than under PINS on repatriation basis
Non-PINS NRO - For shares acquired earlier other than under PINS on non-repatriation basis and also when 'Resident' in India