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PRODUCTS & SERVICES: NRI & FPI

Investment in India by Non-Resident Indians (NRIs)

Sushil Finance has a specialisation in NRI servicing for over 2 decades now. We have been providing advisory services to our NRI clients for Investments in Equities, IPO & Mutual Funds. We cater to clients based in US, UK, Middle East & Asia.

Products Offered to NRIs

• Equity Trading on BSE & NSE
• Investments in Mutual Funds
• Investment in Primary Market

Process Guidelines for NRIs

• An NRI can operate either on NRE (Repatriable) or NRO (Non Repatriable) or on both NRE & NRO status. He should open an NRE/NRO –PIS A/c (portfolio investment scheme A/c) with the same branch of the bank.
• He should apply for an RBI approval to invest in Indian Stock market through his designated bank branch.
• NRI can have only one PIS A/c at a time with any bank in India.
• Short term capital gain Tax if any will be deducted @ 17% by the bank.
• Long term capital gain tax is abolished. (Investment over 1 year)
• All the primary market transactions are routed through a normal NRE/NRO – savings A/c.
• NRI cannot do day trading & short selling.
• Only delivery based transactions are allowed.
• NRI can trade in equity derivatives but on NRO basis only.
• NRI cannot trade in Commodity & Currency derivatives
• Funds can be remitted from an FCNR or NRE A/c.

Foreign Portfolio Investor (FPI)

Appoint a SEBI approved Stock Broker who will help in :

1) Opening a Trading Account.

2) Opening a Custodian, DEMAT, & a Rupee Bank Account through a SEBI approved, Qualified Depository participant (QDP) cum Custodian.

3) Applying for a Unique Income Tax Code through such Custodian QDP.

For more assistance, get in touch with Mr. Amol Joshi - 022 40 93 4026.

Asset Class FPI

• Listed Equities
• Mutual Funds – Equity & Debt Schemes
• Corporate Bonds

Eligibility for FPI Investment

Any foreign individual or entity, resident in a country which is a member of the Financial Action Task Force (FATF) & other countries with whom the Security & Exchange Board of India (SEBI) may have entered into a multilateral or bilateral agreement with, is eligible to invest in India.

Also, NRIs who do not hold a PIS account or who has but closes all his/her NRI DEMAT accounts in India is eligible to invest through this route.

Procedure to Invest through FPI Route

Appoint a SEBI approved Stock Broker who will assist you in -

1) Opening a Trading Account.

2) Opening a Custodian, DEMAT, & a Rupee Bank Account through a SEBI approved, Qualified Depository participant (QDP) cum Custodian.

3) Applying for a Unique Income Tax Code through such Custodian QDP

Commencement of Business

In about 3 to 4 weeks from the date of receipt of all the documents (FULL PACK) duly signed, the FPI will be in a position to bring in money & start investing.

The time taken is mainly in obtaining the Tax Code (PAN CARD) where processing by a 3rd party (Government Department) is involved.

Process Guidelines for FPIs

1) Based on the Analysis & advice provided by the Stock Broker or relying on his own study, the FPI can decide upon the Companies to invest in & the FPI can either place orders directly with his Stock Broker OR route it through his Custodian’s Order Management System which many Custodian QDP provide.

2) The FPI will, either way, have an access to the status of his orders & trades through an online browser based system application.

3) Post Execution of trades, the settlement of securities as well as funds will be done at Custodian End without any action from FPI’s end. The FPI will have access to comprehensive reports reflecting the trade details, & all the End of Day balances including trading account, bank account, custodian account & the DEMAT Account holdings with valuations.

4) Deduction of withholding tax & payment of the same to the Government from time to time on each sale transaction during the course of investment activity in India will be taken care of by the Custodian. In case of a situation of a refund of Tax, due to the FPI on a subsequent loss transaction, the same will have to be claimed by way of filing Income Tax Returns in India. The Stock Broker or the QDP can manage the same through a Tax Consultant at a cost if the FPI so desires.

5) Investments by FPIs are governed by overall limits which vary in case of each Asset Class. The monitoring of such limits will be the responsibility of the Custodian QDP.

6) The Funds invested through this route are fully repatriable at any point of time as per the FPIs instructions.


Eligible Countries

Foreign entities from the following countries are eligible to invest in the financial markets in India as FPIs:

Australia Austria Bahrain Belgium Brazil
Bulgaria Canada China Cyprus Czech Republic
Denmark Estonia Finland France Germany
Greece Hong Kong Hungary Iceland Italy
Japan Korea Lithuania Luxembourg Malta
Mexico Netherlands New Zealand Norway Oman
Poland Portugal Romania Russia Saudi Arabia
Singapore Slovakia Slovenia South Africa Spain
Sweden Switzerland UAE UK USA


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To Know More
Call: +91-22-40934071 / 72 / 73
Mon to Fri - 10.00 a.m. to 6.00 p.m.
(except public holidays)


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ATTENTION INVESTORS:
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Registered Office : Sushil Financial Services Private Limited., 12, Homji Street Fort Mumbai-400 001 • Tel. No.+91-22-40936000 • Fax No.+91-22-22665758 • Email: info@sushilfinance.com
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.Receive alerts on your Registered Mobile number for all debit and other important transactions in your demat account directly from CDSL on the same day. Prevent unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day.

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