An NRI intending to buy and sell shares / convertible debentures of an Indian company through a registered broker on a recognized stock exchange in India will apply in prescribed form to the designated branch of AD bank for participating in the Scheme on repatriation basis (NREPIS). HDFC Bank is one of the Authoised Dealer to issue permission for Portfolio investment scheme.We offer the facility of NREPIS account and NRO securities account for NRIs who deal in shares with any registered broker in India.
Trade on recognised Indian stock exchanges under the Portfolio Investment Scheme (PIS) through designated branches of HDFC Bank from any corner of the world.
RBI has delegated powers to designated branches of authorised dealers to issue permission for Portfolio Investment Scheme. HDFC Bank has designated branches at -
- Tulsiani Branch-Mumbai
- Ashram Road-Ahmedabad
- M G Road-Bangalore
- Stephen House-Kolkata
- Bhandarkar Road - Pune
- Banjara Hills
- K G Marg-Delhi
If interested in investment in shares through HDFC Securities ltd then CLICK HERE
If you want to open the NREPIS account or NRO Securities savings account then visit your nearest HDFC Bank branch for account opening or you may an send email to email@example.com to get the account opening forms and formalities.
- Zero AMB (Average Monthly Balance):- No need to maintain any Average Monthly Balance (AMB) in the NRE PIS/ NRO Special Securities Account.
- Facility to deal with multiple brokers at a time :- NRI is permitted to buy or sale shares/convertible debentures through multiple brokers at a time who are an authorized member of a recognized stock exchange. With HDFC Bank Ltd. PIS facility, NRI customers can deal with multiple brokers with the help of PIS Extension within Bank. Customer needs to open an additional PIS account by taking extension of PIS Permission without any additional cost with HDFC bank.
- Set off losses against capital gain facility for capital gain tax computation- HDFC Bank computes the capital gain tax and deduct the same at source on every sell transaction done by PIS customers. While computing the capital gain tax, banks set off losses against capital gains on equity shares within same financial year. The benefit of set off of losses is available for per financial year (i-e: losses made in can be set off against the gains made in same fiancial year The bank will report purchase and sale contract notes on FIFO basis and compute capital gain tax accordingly, even if trades have been executed through multiple brokers. Further the losses of NRO transactions can be set of against NRE capital gain since both accounts are under one PAN with us and vice versa.
- Computation of Capital Gain Tax on Sell of Primary Shares : HDFC BANK also provide the facility to compute the Capital Gain Tax on Sell of Primary Shares (acquired other than secondary market ) & remitting to Income Tax Department for PIS and non PIS customers as well . HDFC Bank also facilitates computation of capital gain tax as per latest income tax guidelines on non PIS transactions as well Such as securities/bonds sold on stock market floor other than equity.
- Sweep-In facility : PIS customer can avail the sweep in facility between NRE SB to NRE PIS SB account Vice Versa. Similarly sweep in facility can be availed for NRO SB to NRO securities account This will take care of honoring payment from any account,
- Ease in Trade Reporting : No Need to Submit physical Cheques by Customer /POA/Mandate Holder. Broker can send the uploading format of contract note reporting ( in soft copy ) to bank for further regulator reporting. Brokers have given the facility of viewing the balances of NRI customers through ENET facility of bank. Brokers to contact the PIS officers for more details
- Quick PAY IN and PAY OUT: HDFC bank also can execute the Payin and Payout on the basis of reporting file sent by broker to the Bank provided the customers are registered for Payment against purchase trade.
- Corporate Action Effect : Basis reporting of purchase/sale transactions, Bank maintains customers records. Accordingly Bank updates the securities and gives corporate action effects without seeking any additional documents from the broker/ NRI customer ( based on the published information available on the official websites). Hence it is advisable to update purchase and sale transactions to the Bank within 24 hours of any trade/acquisitions of shares.
- Accounts can be operated by POA/ Mandate Holders:- In cases, where an NRI is eligible to make investment in India, his resident Power of Attorney holder can be permitted by AD bank to operate NRE(PIS)/NRO (Special Securities) account to facilitate investment under the Scheme.