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Overview Application For PIS Permission FAQs FAQs Does an NRI requires PIS permission to purchase shares in Primary market (IPOs) on reptriable basis? Does NRI requires PIS permission to purchase shares in Primary market (IPOs) on non - reptriable basis? Do NRIs requires PIS permission to sell shares which were purchased in Primary market (IPOs) on repatriable / non repatriable basis? Do NRIs require PIS permission to sell shares which were allotted as rights / bonus basis, on the shares which were originally purchased in primary market (IPOs) on repatriable/ non repatriable basis? Can NRIs receive shares in inheritance? What is the status of shares purchased in primary market/secondary market as a resident Indian, once the customer becomes a NON - RESIDENT? Does an NRI requires PIS permission to purchase shares in Primary market (IPOs) on reptriable basis? NO, NRIs can purchase shares in primary market on repatriable basis and application money can be paid through regular NRE SB account or through inward remittance. Does NRI requires PIS permission to purchase shares in Primary market (IPOs) on non - reptriable basis? NO, NRIs can purchase shares in primary market on non-repatriable basis and application money can be paid through regular NRE/ NRO SB account or inward remittance. Do NRIs requires PIS permission to sell shares which were purchased in Primary market (IPOs) on repatriable / non repatriable basis? No. Do NRIs require PIS permission to sell shares which were allotted as rights / bonus basis, on the shares which were originally purchased in primary market(IPOs) on repatriable/ non repatriable basis? No. Can NRIs receive shares in inheritance? Yes, NRI can receive shares in inheritance. RBI permission is not required to be obtained and the shares will be held on non-repatriable basis. What is the status of shares purchased in primary market/secondary market as a resident Indian, once the customer becomes a NON-RESIDENT? The shares purchased through Primary / Secondary market as a resident will be held on non repatriation basis, once the customer becomes an NRI. These these shares can be credited to NRO DEMAT account. These shares can be sold in secondary market without PIS permission. The sale proceeds can be credited to NRO SB account after payment of capital gain taxes. E-mail this page Print this page Write to us Find an NRI Center Compare the accounts Get the home of your dreams - with a little help from us.