Demat Account for R2I\'ed USC

[sunsanshre]

Please advise if R2I'ed USC is allowed to open and operate an Indian Demat account. Is a USC allowed to trade Indian stocks, mutual funds and bonds?

[ganandR2I]

You should be able to open Mutual funds ( with OCI/ NRI status) account and invest in INDIA. Check the link below.

https://www.fundsindia.com/content/jsp/corporate/faq.do

[masin4]

I went through the forums and learnt a lot about PFIC and understand that investing in Indian Mutual funds does not make sense for USC/OCI irrespective of whether they live in India or US. Few questions that I could not find answer to; so asking them here. Please guide me:


[LIST=1]

I know that a USC/OCI residing in India can open a Demat plus trading account. But can a USC/OCI residing in USA open a demat and trading account through PIS OR is that not available for USC/OCI residing in US? If the answer is yes ? which bank/institution allows this? I checked with HDFC Securities and they said no - so curious what others are doing.

I found some threads where people were talking about Portfolio Management Service; but nothing concrete came out of it. Can a USC/OCI invest through PMS? Any body has experience with this?
[/LIST]
Appreciate some one taking the time to help me by responding to this. Thanks

Hello,

Yes you can open demat accounts in india,any company like sharekhan,way2wealth should be able to do that if you need help in opening an a/c please drop me an email @ [email][email protected][/email] can guide you through the process

[anusril]

Hello,

Yes you can open demat accounts in india,any company like sharekhan,way2wealth should be able to do that if you need help in opening an a/c please drop me an email @ [email protected] can guide you through the process

At the bottom of Sharekhan's NRI page - http://www.sharekhan.com/onlineservices/nri.aspx, it says the following - "NOTE: Online trading in India not applicable for NRIs in USA"

Looks like NRI's outside of USA can open but not if you are a US resident.

[masin4]

Hello Anusril,

i would like to append a link from money control that clarifies the questions on NRI trading in Indian stock markets

http://www.moneycontrol.com/mc_new/nri/invest_equities.php