Can an NRI purchase or sell shares or convertible debentures on a stock exchange in India on repatriation or non-repatriation basis under portfolio investment scheme?
NRIs / PIOs can purchase / sell shares / convertible debentures of Indian companies on Stock Exchanges under the Portfolio Investment Scheme. The rules relating to this scheme are as given below: • Shares purchased under PIS on Stock Exchange shall be sold on stock exchanges only. Prior approval of RBI is required if such shares are proposed to be transferred either by way of gift or under private arrangement to a non-resident/ resident. • These trades can be done only through a registered broker on a recognised stock exchange • NRI shall designate a branch of an authorised dealer and route all his/her transactions through this branch of the authorised dealer. • NRI takes delivery of the shares purchased and gives delivery of shares sold. NRI shall abide by the directions given by RBI/SEBI or such authority if the transaction results in the breach of ceilings stipulated for NRI holding in the company/scheme. The sale of shares will be subject to payment of applicable taxes. An NRI or a
NRIs / PIOs can purchase / sell shares / convertible debentures of Indian companies on Stock Exchanges under the Portfolio Investment Scheme. The rules relating to this scheme are as given below: Shares purchased under PIS on Stock Exchange shall be sold on stock exchanges only. Prior approval of RBI is required if such shares are proposed to be transferred either by way of gift or under private arrangement to a non-resident/ resident. These trades can be done only through a registered broker on a recognised stock exchange NRI shall designate a branch of an authorised dealer and route all his/her transactions through this branch of the authorised dealer NRI takes delivery of the shares purchased and gives delivery of shares sold. NRI shall abide by the directions given by RBI/SEBI or such authority if the transaction results in the breach of ceilings stipulated for NRI holding in the company/scheme. The sale of shares will be subject to payment of applicable taxes An NRI or a PIO can p
• NRIs / PIOs can purchase / sell shares / convertible debentures of Indian companies on Stock Exchanges under the Portfolio Investment Scheme. The rules relating to this scheme are as given below: • Shares purchased under PIS on Stock Exchange shall be sold on stock exchanges only. Prior approval of RBI is required if such shares are proposed to be transferred either by way of gift or under private arrangement to a non-resident/ resident. • These trades can be done only through a registered broker on a recognised stock exchange • NRI shall designate a branch of an authorised dealer and route all his/her transactions through this branch of the authorised dealer • NRI takes delivery of the shares purchased and gives delivery of shares sold. • NRI shall abide by the directions given by RBI/SEBI or such authority if the transaction results in the breach of ceilings stipulated for NRI holding in the company/scheme. • The sale of shares will be subject to payment of applicable taxes • An NR
Ans. NRIs / PIOs can purchase / sell shares / convertible debentures of Indian companies on Stock Exchanges under the Portfolio Investment Scheme. The rules relating to this scheme are as given below: (i) Shares purchased under PIS on Stock Exchange shall be sold on stock exchanges only. Prior approval of RBI is required if such shares are proposed to be transferred either by way of gift or under private arrangement to a non-resident/ resident. (ii) These trades can be done only through a registered broker on a recognised stock exchange (iii) NRI shall designate a branch of an authorised dealer and route all his/her transactions through this branch of the authorised dealer. (iv) NRI takes delivery of the shares purchased and gives delivery of shares sold. (v) NRI shall abide by the directions given by RBI/SEBI or such authority if the transaction results in the breach of ceilings stipulated for NRI holding in the company/scheme. The sale of shares will be subject to payment of applicab
Related Questions
- Can an NRI purchase or sell shares or convertible debentures on a stock exchange in India on repatriation and/or non-repatriation basis under portfolio investment scheme?
- Can an NRI purchase or sell shares or convertible debentures on a stock exchange in India on repatriation or non-repatriation basis under portfolio investment scheme?
- Is there any limit for purchase/sale of shares/convertible debentures by NRI/OCB in secondary market?
