NRI investment in stocks, Mutual Funds, IPOs, ETFs, Bonds and trading in Futures & Options now possible from a single integrated ICICIdirect NRI account.

Yes NRIs can invest in the stock market with certain restrictions imposed by RBI. NRIs can channelize their investments into Indian stock markets through RBI-approved Portfolio Investment Scheme (PIS) mechanism.

Yes, USA & Canada based NRIs and PIOs can open the Trading account.

• Valid Passport
• Valid visa
• Permanent account number (PAN) card
• Work permit/student permit
• Proof of overseas address
• Overseas citizenship of India card (In case of Foreign Passport)

Banks offer 3in1 account for NRIs where three accounts are opened: the NRI Demat account, the NRI trading account, and the NRI bank account. However, if the account holder wants to invest in Indian stocks, a fourth account called the Portfolio Investment NRI Scheme (PIS) account is opened

The only way to invest in an IPO for an NRI is via an NRE/NRO account. Having a Portfolio Investment Scheme account does not allow them to invest in IPOs. They also need to open a Demat account and link it to their NRE/NRO account.

PIS is an RBI approved account that NRIs can use for transacting in the secondary markets. An NRI can only have 1 PIS account with 1 bank at any given time. All secondary market transactions from the PIS account are reported to RBI on daily basis. RBI monitors the limit of NRI stakeholders in any stock listed on the exchange.

Yes, you can convert your trading, demat & bank account to NRI status. Customer who is single holder in the account needs to login into his ICICI Bank net banking and follow the path

Click on Customer service -> Service request -> Convert your saving bank (SB) account into NRO account

For customers who have joint holders in the account, they need to visit ICICIdirect website go to NRI section and click on open account. Subsequently customer needs to generate ARN and complete the conversion journey.

All open positions (such as SIP, SEP, F&O positions etc.) during conversion of the account should be cancelled/ discontinued.

Your RI trading account, demat & bank account shall be converted as NRO Non PINS accounts. You may choose to additionally open NRE PIS & NRO accounts as well. You will be able to view your transactions & portfolio was done under RI status after conversion to NRI status.

We offer up to 4 NRI trading accounts depending on type of funds (NRE/NRO) and type of investment (Primary market / Secondary market). Additional account means you already have existing account(s) and want to open account(s) that you currently do not have and is required as per your type of fund and investment.

To open additional NRI account customer needs to login to his ICICIdirect account and follow the steps –

· Click on user name on top of the logged in session
· Click on select account
· Open additional account will be mentioned on pop- up window
· Click on ‘Yes’ to open additional account

Once the request is submitted, ICICIdirect customer service team will get in touch with the client via email and update with necessary details.

No, one cannot transfer shares from NRO Demat account to NRE Demat Account.

Yes. Only in NRO Status.

Yes, you can open two trading accounts based on NRE and NRO.

Yes, NRIs can invest in the Exchange's Futures and Options segment using rupee funds held in India on a non-repatriation basis, subject to SEBI limits.

Yes, an individual planning to start a new job, business, or travelling for educational purposes can complete the formalities and open a zero balance account before leaving the country. Then, within a reasonable time, he must remit funds to make the account operational, after which they will be issued a cheque book.

Yes, an NRI can assign just one person who can be either a resident or a non-resident as a nominee. The nominee can also be a minor but in that case, a guardian will have to be appointed to receive the payment on the minor's behalf.

Settlement for buy transactions in NRE PINS / NRO PINS

•   For All buy transactions stocks will be credited in T+1 days

All sell transactions in your NRE PINS / NRO PINS account with ICICI Direct go through the following:

• As per regulatory requirements, all buy/sell transactions are reported to RBI on a daily basis (only NRE PINS)
• 15 CA / CB reporting on the Income Tax portal is done for all sell transactions (only for NRE PINS)
• Automatic deduction of TDS on all sell transactions
• The settlement cycle followed for the same is T+1/2 days

All sell transactions in NRO non PINS / NRE non PINS:

• If all details to calculate TDS, documents such as Cost of Acquisition (CoA), Period of Holding (PoH) & Proof of Purchase (in case of NRE) is available with ISEC, then pay-out is released on T+2 days
• If the above mentioned details are not available with ISEC, then 80% pay-out is released in T+2 days; balance 20% is released (if applicable) after the receipt of such documents