Easy Steps to Open NRI Account
1. Sign up the account opening form or email us at info@ssplwealth.com and fill in your basic personal details.
2. An acknowledgement will be sent to you through E-mail.
3. KYC forms will be emailed on receipt of confirmation.
4. Upload the filled form along with the required supporting documents.
5. Account activated post verification and we will email your Login ID & password for Online trading.
6. Orders can be placed either through our Online trading platform or by calling our dealers.
Documents Required to open NRI Account
List of Documents
Copy of PAN card
Copy of Overseas Address Proof
Copy of Passport
Copy of Indian Address Proof
Copy of Visa
Canceled Cheque Leaf of your NRI Savings Account
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Our FAQ
1. Who is a non-resident Indian (NRI)? 
Non-Resident Indian (NRI) means a person resident
outside India” who is a citizen of India or is a person of Indian origin[as per FEMA
regulations].
2. Who is a person of Indian Origin?
For the purposes of investments in
shares/securities in India, person of Indian origin means a
citizen of any country other than Pakistan or Bangladesh, if
a) he at any time, held an Indian passport; or
b) he or either of his parents for any of his grand parents was a citizen of India by virtue of the constitution of India or Citizenship Act, 1955 (57 of 1995); or
c) the person is a spouse of an Indian citizen or a person referred to in clause (a) or (b)
a) he at any time, held an Indian passport; or
b) he or either of his parents for any of his grand parents was a citizen of India by virtue of the constitution of India or Citizenship Act, 1955 (57 of 1995); or
c) the person is a spouse of an Indian citizen or a person referred to in clause (a) or (b)
3. Can NRI invests in shares in India through a stock
exchange?
Yes, NRI can purchase shares or convertible
debenture of an Indian Company through stock exchanges, under the portfolio investment scheme on
repatriation and /or non repatriation basis.
4. How can NRIs invest in shares in India?
As per Reserve Bank of India (RBI) guidelines, NRI
who wishes to invest in shares in India through a stock exchange need to approach the designated
branch of any authorized dealer (bank) authorized by reserve bank to administer the PIS
(Portfolio Investment Scheme) to open a NRE (Non Resident External) /NRO (Non Resident Ordinary)
account under the scheme for routing Investments.
5. What is a designated bank branch?
Reserve bank of India has authorized few branches
of each authorized dealer bank to conduct the business under portfolio investment scheme on
behalf of NRIs. NRI can select only one authorized dealer bank for the purpose of investments
under portfolio investment scheme and route the transactions through the branch designated by
the authorized dealer bank.
6. What is a Portfolio Investment Scheme (PIS)?
Portfolio Investment Scheme (PIS) is a scheme of
reserve bank of India under which - Non Resident Indian (NRIs) 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 transactions are to be routed through the designated
branch.
7. Who is an overseas citizen of India (OCI)?
A foreign national, who was eligible to become a
citizen of India on 26.01.1950 or was a citizen of India on or at anytime after 26.01.1950 or
belonged to a territory that became part of India after 15.08.1947 and his/her children and
grand children, is eligible for registration as an Overseas Citizen of India (OCI). Minor
children of such person are also eligible for OCI. However, if the applicant had ever been a
citizen of Pakistan or Bangladesh, he/she will not be eligible for OCI.
8. Can two separate trading accounts namely (NRE &
NRO) can be opened by NRI
Yes, clients can have two separate trading accounts
based on NRE & NRO.
9. How payments could be made by NRIs for shares
purchased on stock exchange?
Payment for purchase of shares and/or debentures on
repatriation basis has to be made by way of inward remittance of foreign exchange through normal
banking channels or out of funds held in NRE/FCNR(B) account maintained in India. If the shares
are purchased on non-repatriation basis, the NRIs can also utilize their funds in NRO account in
addition to the above.
10. How NRIs/PIO can remit Sale proceeds?
In case of NRI/PIO, if the shares sold were held on
repatriation basis, the sale proceeds (net of taxes) may be credited to his NRE /FCNR(B)/NRO
accounts of the NRI/PIO, whereas sale proceeds of non repatriable investment can be credited
only to NRO accounts
11. Can an NRI purchase securities by subscribing to
public issue? What are the permissions/approvals required? How can those shares be sold?
Yes. The issuing company may issue shares to NRI on
the basis of specific or general permission from GoI/RBI. Therefore, individual NRI need not
obtain any permission. While seeking the credit of sale proceeds to NRE/NRO account, the
designated bank should be provided with the details regarding date of allotment and cost of
acquisition to calculate the taxes, if any.