Comment on NRI trading on Indian Stock Exchanges

siddu commented on 01 Dec 2016, 03:30 AM

HI Nithin,

After going through all the comments and the post my understanding is,

1. If a person( When he was in India ) who already had zerodha Resident Trading and Demat account (Which was linked with resident Bank Account ) need not to open a new Demat and trading account if he wishes to choose trading in Non – repatriation basis. And he just needs to convert the resident Bank account to NRO and provide those details to zerodha would be fine. And he can continue with the existing Trading and Demat account. Is this totally correct.
2. If a person (After becoming NRI ) doing trading only on NON-Repatriation basis using NRO account (not PIS route) then he can execute both Intra day and Delivery trades. Is this correct?
3. The charges for trading only on NON reparation basis using NRO account (Even though NRI status) is 0 for delivery trades and for intra day trades flat 20. Is this correct ?

I got confused about first point in some comments you replied like existing Trading and Demat accounts needs to be closed and new accounts need to be created after becoming NRO. In another comments you replied like using existing Demat and trading account (which was opened when person was resident) with updated NRO bank details. Please clarify.

View the full comment thread »