Table of Contents
- 1 Can NRI transfer shares to Indians?
- 2 Can NRI open joint demat account resident Indian?
- 3 How do I transfer shares to my NRI account?
- 4 Can resident transfer shares to NRI?
- 5 Does an NRI need any RBI permission to open a demat account *?
- 6 Can I transfer shares NRI demat account?
- 7 Can I transfer shares NRI Demat account?
- 8 Can I transfer shares from resident account to NRO account?
Transfer of shares by NRIs to resident Indians is also permitted as a Gift (without consideration). This transfer by way of Gift has a General Permission accorded by the Reserve Bank of India without any prior approval. NRIs are required to furnish of their PAN card for any such transfer of shares in a limited company.
Can NRI open joint demat account resident Indian?
Yes, NRIs can open a joint account. The PIS account and the trading account would be in the first account holders name. The second holder should also be a NRI and should submit the KYC documents along with FEMA declarations and the FATCA.
Can NRI hold resident demat account?
In India, both resident Indians and non-resident Indians (NRIs) can hold a demat account to trade in equity. However, if an NRI wants to open a demat account, they have to follow the rules of the FEMA (Foreign Exchange Management Act). An NRI can open both Repatriable and Non- Repatriable demat accounts.
If you are an NRI holding stocks in your resident demat account, following are the options available to you: Open a new Demat Account (NRO), transfer your holdings to it and close the old demat account. The process is simple and taken care of by the stock broker while opening the NRO demat account.
Yes, a resident Indian can transfer shares to NRI by way of a gift only post obtaining prior approval from RBI.
Can a resident be a joint holder with NRI in NRE NRI account?
Can a resident be a joint account holder with NRI in NRE NRI accounts? Yes, a joint account can be opened with a Resident Indian who is a close relative. The mode of operation is permitted on ‘Former (NRI) or Survivor’ basis only.
Does an NRI need any RBI permission to open a demat account *?
6 Does an NRI need any RBI permission to open a demat account? Ans. No permission is required from RBI to open a demat account. However, credits and debits from demat account may require general or specific permission as the case may be, from designated authorised dealers.
Yes. A resident Demat account can be converted to an NRI Demat Account. Technically the old demat account is closed and a new demat account is opened with an NRI Non-Repatriable status.
What is the penalty for an NRI trading in a regular resident account?
As per FEMA rules, the penalty for not converting resident account to an NRO account is up to 3 times the amount involved in it or Rs 2 lakh when the sum is not quantifiable. A daily penalty of Rs 5,000 will also be charged from the 1st day of intervention until the penalty is paid.
You can transfer shares from a resident Demat account to an NRO (non-repatriable) account. 4. If you hold an NRO Non-PIS account , you will be able to transfer the shares from another NRO Demat or Resident account. Kindly ensure that you update the prices for the transferred shares .
How do you transfer shares from non resident to resident?
1. Duly signed consent letter for transfer/receipt of consideration by the buyer and the seller. 2. The shareholding pattern of the investee company (“the company, whose securities are transferring from one person to another”) before and after the acquisition of securities by a person resident outside India.