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A person from outside India (NRI) is not eligible to invest in the Indian shares on previous days but recently the government of India announced new methods to support the NRI people. In Because of this plan the NRI people are allowed to investing in the Indian housing, stock exchanges and the urban development sector. Additionally NRIs/OCBs are also allowed to make portfolio investment in shares of the Indian firms with certain restriction as follow. NRI/PIO are allowed to invest in the equity shares and convertible shares but the share should not exceeding 5% of the paid up equity capital. There were three types of accounts for NRI NRI Ordinary Rupee Account This account is also called as NRO (Non Resident Ordinary Rupee Account). NRO allow the NRI people to open various types in bank accounts like, savings account, fixed deposit account and current account. This Account holds the amount in Indian Rupees additionally. External NRI Account NRI external Rupee account is used to call as NRE Account. This NRE account is created by the NRI People by their own instead of going through the holder of power of attorney. The income, interest and the balances in NRE accounts are free from income tax and wealth tax. Additionally, it holds with NRI online trading account. (http://www.nrisharetradingaccount.com/) NRI Foreign currency Account FCNR- Foreign currency Non Resident Account is applicable only in the form of term deposits of 1 to 5 years. FCNR is a freely convertible currency account according to the needs of the people (Either foreign or India currency). The NRI account doesn’t allow the NRI to invest in small savings or in any Public Provident Fund (PPF). PAN -Permanent Account Number (PAN) is the one which resolves various NRI problems like land buying, selling, investing etc.; there were various types of PAN cards such as pio pan card, oci pan card and nri pan card etc. Which act as a unique ID throughout India, Pan Card can be applied both in online as well as in offline. More over in India real estate has become a major profitable investment for both NRI as well as Indian. NRI- What are all the things to be consider when buying land in India? As per the Indian rules and regulation- Foreigners doesn’t allowed buying an agricultural land. This rule is applicable for entire India so doesn’t fall on any illegal money transfer schemes. Nrisharetradingaccount.com offers great online investment facilities for the NRIs through their NRI Share Trading Account. They also provide services on applying nri demat account, pan card for nri, pio pan card and oci pan card etc. For more information please visit their webpage.
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