NRI Services with Sharekhan

We understand that as an NRI you look to invest differently. At Sharekhan, we are equipped to help you with all your financial needs. As one of India’s leading brokerage firms, our endeavor is to simplify the markets for you and help you make the right investments. With an ever-innovating digital team, 4,000+ centres across 1000+ cities and 2.9 million customers throughout India, we are well-equipped to help you reach your goals.

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Are you close by? Visit your nearest branch. Tap here to find a branch near you. Phone: +91 022 6518500 | Email:

What can NRIs invest in, in India?

Exchange Traded Funds


Equities are simply stocks and shares. When you buy the stocks/shares of a company, you own equity of that company. Equities are traded in a stock exchange

Exchange Traded Funds


Opted for by more advanced investors, a Derivative is a contract between two entities which depends on underlying assets of some kind to determine value. Futures and Options are types of derivatives.

Exchange Traded Funds

Mutual Funds

A mutual fund is a type of financial instrument that pools in funds from many investors and invests in securities like stocks, bonds, money market instruments, and other assets. MFs are operated by professional money managers.

Exchange Traded Funds


A private company offers its shares to the public for the first time through an Initial Public Offering (IPO). This allows the company to raise capital speedily and also gives investors a chance to own a part of the company. 

Exchange Traded Funds

Exchange Traded Funds

Exchange Traded Funds (ETF) are investment funds that hold assets such as stocks, bonds and commodities. They usually operate with an arbitrage mechanism designed to maintain value at close to its net asset value.

Exchange Traded Funds

NCDs & Bonds

Non-Convertible Debentures (NCDs) and Bonds are used by companies and governments to raise long-term capital. NCDs and Bonds are both fixed-tenure debt instruments where investors receive regular interest pay-outs at a fixed rates.

Benefits of opening an NRI account with Sharekhan

Stay on top of your goals

Stay on top of your goals

  • Dedicated Relationship Managers to help you reach your financial goals
  • Research reports for every asset class to keep you updated with trends in the stock market
  • Real-time portfolio tracking with price alerts to keep you updated about your investments
Stay on top of your goals

Quality service

  • Branches conveniently located across India.  Tap here to find us.
  • Trade-on-phone facility.
  • NRI Customer Service desk –91-22-6115 1122 |
    Timings – 8:30 AM to 5 PM (IST)
Stay on top of your goals

Trader-friendly platforms to cater to your market needs

Stay on top of your goals

Secure transactions

  • Secure transactions with automated funds and securities settlements
Stay on top of your goals

The strength of BNP Paribas

  • Sit back knowing that your investments are protected by one of the largest banks in the Eurozone

For Indian Branches

Account Service Charge (Normal KYC) 2000 1000
Account Service Charge (For downloaded & Printed KYCs) 3000 2000


  • Equity Transactions: 0.50%
  • Futures: 0.1% on first leg and 0.02% on second leg if squared off on the same day or 0.1% if square off on any other day.
  • Options: 250 per contract note.

* Above brokerage rates may vary depending on turnovers.

Dubai Representative Office

  • Phone: 009714-3963889 and 0097155-8990251

  • Email: /

  • Address: 213, Nasir Lootah Bldg. Opposite the Pakistani Consulate, 6th Street, Khalid Bin Walid Street (Bank Street), P.O. Box: 120457, Dubai, UAE 120457

List of Bank Charges

ParticularsHDFC BankIndusInd BankIDBI BankAxis Banks
Contract Note Reporting Charge (CN) 100 Per CN 50 Per CN 100 Per CN 150 Per CN
Sale Proceeds Charge(For TDS calculation) No charges No charges No charges No charges
PIS Lssuance Charges No charges NIL 100 1500
PIS Annual Maintenance Charges 1000 350 1000 1500
Avg. Quarterly Balance 1000 20000 10000 10000

Note - Above charges + applicable GST

TDS Charges 

Net GainEquity Shares
  Listed on recog exch with STT (paid on acquistion and transfer) Without STT (STT not paid either on acquistion or at the time of transfer)
Listed on Recog. Exch. (sold off market) Unlisted


With Surcharge 11.96% (4)(9)(13)(14) 23.92% (1) (6)(13) (9) 11.96% (1) (6)(13)(9)
With out Surcharge 10.4% (4)(13)(14) 20.8% (1)(6)(13) 10.40%
Period of Holding (5) >365 days >365 days >730days (12)


With Surcharge 17.94%(9)(2)(13) 35.88%(3)(13) 35.88%(3)(13)
With out Surcharge 15.60% 31.20% 31.20%
Period of Holding (5) <=365 days <=365 days <=730 days (12)

Note - TDS is deducted by Banker. For further clarifications, Kindly get in touch with your PIS Bank.

Non Resident External Bank Account (NRE)
  • You can transfer foreign currency from overseas Bank account to NRE Bank account.
  • Non-resident External Account (NRE) is a bank account where both the principal and the interest earned can be taken back to your country means funds can be repatriated.
  • Demat Account mapped with NRE Bank account is called as NRI-Repatriable Demat Account.
Non Resident Ordinary Bank Account (NRO)
  • Money kept in this account can not be taken back to your country. This is Non-repatriable Bank Account.
  • You can use this account for funds originating in India such as rent, dividends, pension etc.
  • RBI has allowed repatriation of funds from NRO account up to 1 Million USD every financial year.
  • Demat Account mapped with NRO Bank account is called an NRI-Non Repatraible Demat Account.
Portfolio Investment Scheme (PIS)

PIS is RBI’s approval for NRIs to purchase and sell shares in secondary market. PIS Bank account is opened separately along with NRE / NRO savings account.

Below are the transactions covered under PIS:

  • Fresh purchase from the secondary market as an NRI.
  • Sale of shares bought under PIS.
  • PIS does not allow transactions in IPOs, Mutual Funds, Derivatives.
Non Portfolio Investment Scheme (NON- PIS)

All transactions not covered under PIS falls under Non-PIS. NON-PIS include:

  • Preference Shares
  • Non Convertible Debentures (NCD) and Bonds
  • Foreign Account Tax Compliance Act (FATCA) is a legislation introduced by the Unites States of America (USA) Department of Treasury and Internal Revenue Service (IRS) to prevent US persons from evasion of tax.
  • Common Reporting Standards (CRS) is to aid automated exchange of information between Bilateral Treaty partner countries about account holders / investors maintaining account in foreign jurisdictions.
  • For FATCA and RS, agreements signed by Government of India which obliges banks and financial institutions to report information about such account holders (having other country’s indicia) to tax authorities.

Important Procedures

Trading Process For Cash Segment

Trading Account with HDFC PIS Bank

  • Allocate funds to HDFC PIS A/c
  • Login to Sharekhan A/c
  • Visit Homepage
  • Go to Move Funds
  • Block the amount to trade
  • Sharekhan connects you to HDFC PIS A/c
  • Confirm amount on HDFC website
  • Limit gets added to Sharekhan A/c. Start Trading 

Limit gets added to Sharekhan A/c. Start Trading

  • Allocate funds to your Axis/Indusland PIS A/c
  • Banks share PIS Balance file with Sharekhan
  • We update PIS balance in Trading limit
  • Log into Sharekhan A/c & start trading

Settlement Procedure

In India, settlement cycle is of T+2 day. Under PIS guidelines, NRI Trades needs to be reported to PIS Bank within 24 hours of Trades.

  • Trades are reported to PIS Bank
  • For buy Bank debits PIS A/c and make payment
  • Funds are debited from PIS A/c on T+1 evening
  • For sale Bank credits PIS A/c Net TDS
  • Sale proceeds are credited to PIS A/c on T+2 day evening

Trading Process For Derivatives Trading

  • Login to Sharekhan NRO NON PIS Account
  • Visit homepage - go to Move Funds option
  • Select Bank Account & Transfer Funds
  • Limit updated - start trading
  • Futures & Options trading is possible through NRO NON PIS account.
  • NRO bank account is mapped with this trading account.
  • Exchange allots CP code for NRI FNO trades. All NRI FNO orders are sent to exchange with CP code

Points to Remember

  • Only Delivery based transactions are allowed in Cash Segment. No Intra-day trading is allowed in cash segment.
  • Intraday, Short sale, buy today sell tomorrow (BTST) trading not allowed.
  • 100% Funds need to be available in account while buying the shares, no exposure is allowed.
  • An NRI can deal with only one bank at any point of time. PIS (Portfolio Investment Scheme) approval can be issued by only one bank.
  • NRI will be allowed to invest only up to 5 % of the paid up capital of the company individually. NRIs are NOT allowed to buy certain scrips under this regulation. Report of the same is available on the RBI website.
  • For Non-PIS sale transactions like sale of IPO share, resident status shares, declaration in specified format has to be submitted to Bank.
  • For Bonds, NCDs, preference shares payment need to be made through NRE/NRO SB account.


As per Indian Income Tax Act, 1961, any Indian person staying outside India more than 182 days is considered as NRI (Non-Resident Indian).

Categories of NRIs:

  • Indian citizens who stay abroad for employment or for carrying on a business or vocation or for any other purpose in circumstances indicating an indefinite period of stay outside India.
  • Indian citizens working abroad on assignments with foreign Governments/government agencies or International/Regional Agencies like the UNO,IMF,World Bank, etc.
  • Officials of the Central and State Governments and Public Sector Undertakings deputed abroad on temporary assignments or posted to their offices (including Indian Diplomatic Missions) abroad.

PIO is person of Indian Origin. He/ She can open account in NRI capacity.
A citizen of any country (other than a citizen of Bangladesh or Pakistan) is deemed to be a Person Of Indian Origin (PIO), if,

  • He, at any time, held an Indian passport, or
  • He or either of his parents or any of his grand parents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955, or
  • A spouse (not being a citizen of Bangladesh or Pakistan or Sri Lanka) of an Indian citizen or of a person of Indian origin is also deemed to be PIO.

Yes. Authorized dealer have been permitted to grant loans/overdrafts abroad to NRIs through their overseas branches and correspondents against collateral of the shares/debentures of Indian companies held by them, provided the concerned shares/debentures were acquired on repatriation basis.

  • Off market transfers between NRI accounts are not allowed under PIS.
  • NRI can receive shares as gift from his close relative(relative” as defined under Section 6 of the Companies Act, 1956). A proper gift deed needs to be executed for this transfer. Also it has to be submitted to bank along with declaration of particulars of shares. Transfer of shares from NRI to resident Indian is not allowed.
  • Shares transfer from NRE to NRO demat account or NRO to NRE demat account is not allowed under PIS.

( Kindly refer master circular of foreign investments on RBI for more details regarding shares transfer.)

No. One can sell shares only those shares through PIS which are bought through PIS.

No. In case of NRIs all trades need to be settled on bill to bill basis.

Money can be transferred from NRE to NRO account, however, vice versa funds transfer is not allowed.

No. Mutual funds and IPOs can be applied through Non PIS Account.

Yes, he can close his NRI account and open new resident trading and demat account with us by submitting the required proofs of residential status and can get shares transferred from NR demat account to resident demat account.

As per section 6(5) of FEMA, NRI can continue to hold the securities, which he/she had purchased as a resident Indian, even after he/she has become a non-resident Indian, on a non-repatriable basis.

Conversion procedure would be as follows:

  • Please close your resident trading account with the help of sharekhan closure form.
  • Submit the demat account conversion request along with Change in client master form, foreign address proof, passport copy and visa copy duly self attested. With this request your existing resident demat account category will get changed to NRO.
  • Submit NRI account opening form with due documents.
  • You can mark an email to for relevant forms and details in this regard.

As per regulatory guidelines, Tax (if applicable) has to be deducted at source (TDS) for all the profits made in the equity ,ETF & Derivative market transactions.

Tax deduction at source rate is different as per the tenure of the investment. It can be classified into

  • Short-term capital gain - If the period of holding is less than 1 year  the TDS rate would be 15.54% for the current Financial Year
  • Long-term capital gain - If the period of holding is more than 1 year  the TDS rate would be  NIL. 


  Listed on recog exch with STT (paid on acquistion and transfer) Without STT (STT not paid either on acquistion or at the time of transfer)
Listed on Recog. Exch. (sold off market) Unlisted
LONG TERM (9)      
With Surcharge 11.96% (4)(9)(13)(14) 23.92% (1) (6)(13) (9) 11.96% (1) (6)(13)(9)
With out Surcharge 10.4% (4)(13)(14) 20.8% (1)(6)(13) 10.40%
Period of Holding (5) >365 days >365 days >730days (12)
SHORT TERM(9)      
With Surcharge 17.94%(9)(2)(13) 35.88%(3)(13) 35.88%(3)(13)
With out Surcharge 15.60% 31.20% 31.20%
Period of Holding (5)  

Note - TDS is deducted by Banker. For further clarifications, kindly get in touch with your PIS Bank.