{"id":275850,"date":"2020-11-27T09:55:16","date_gmt":"2020-11-27T04:25:16","guid":{"rendered":"https:\/\/zerodha.com\/z-connect\/?p=275850"},"modified":"2024-02-02T13:58:50","modified_gmt":"2024-02-02T08:28:50","slug":"nro-non-pis-account-opening","status":"publish","type":"post","link":"https:\/\/zerodha.com\/z-connect\/general\/nro-non-pis-account-opening","title":{"rendered":"Introducing NRI account opening using the non-PIS route"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">NRIs can now buy and hold, on a non-repatriation basis: equity shares, convertible preference shares, convertible debenture, warrants, or units that will be considered domestic investments at par with investments made by residents using their NRO accounts. This eliminates the need for a PIS permission letter, thus opening up a whole lot of new options to NRIs. The key benefits of this framework are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No requirement of PIS to trade through this route, thereby saving reporting &amp; other costs levied by banks. Trading experience will be similar to that of a standard resident account.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NRIs investing via the NRO-non PIS route can invest without any limits.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No restriction on the NRO bank account that can be linked (not only those accounts Zerodha has partnered but any bank can be mapped).<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Brokerage of 0.5% or Rs 100 per executed order (whichever is lower).\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Investing in mutual funds can be made across all asset management companies (AMCs) and all funds. (Except for NRIs who are tax residents of the US and Canada)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When equity sell trades are done, on the trade day (T-day) we will block 17.94% of the sale proceeds. On the next day (T+1 day), the amount blocked on T-day will be unblocked and the debit of actual TDS on capital gain is passed. On mutual fund redemption requests, the TDS is deducted by the AMC (asset management company).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To open an account, proceed to create a ticket <\/span><a href=\"https:\/\/support.zerodha.com\/category\/account-opening\/nri-account-opening\/articles\/nri-non-pis\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Restrictions:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NRI can trade only delivery based. No intraday\/BTST trading on equity\/stocks allowed.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No currency or commodity trading allowed.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Equity F&amp;O through a CP (custodial participant) code.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">PS: If you already have an NRO account with us, using the PIS mode and wish to convert it to NRO non-PIS account you can write to us on <\/span><a href=\"mailto:nridesk@zerodha.com\"><span style=\"font-weight: 400;\">nridesk@zerodha.com<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NRIs can now buy and hold, on a non-repatriation basis: equity shares, convertible preference shares, convertible debenture, warrants, or units that will be considered domestic investments at par with investments made by residents using their NRO accounts. This eliminates the need for a PIS permission letter, thus opening up a whole lot of new options [&hellip;]<\/p>\n","protected":false},"author":186384,"featured_media":275852,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[531],"tags":[],"class_list":["post-275850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.5 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Introducing NRI account opening using the non-PIS route &#8211; Z-Connect by Zerodha<\/title>\n<meta name=\"description\" content=\"NRIs can now buy and hold, on a non-repatriation basis: equity shares, convertible preference shares, convertible debenture, warrants, or units that will\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zerodha.com\/z-connect\/general\/nro-non-pis-account-opening\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Introducing NRI account opening using the non-PIS route\" \/>\n<meta property=\"og:description\" content=\"NRIs can now buy and hold, on a non-repatriation basis: equity shares, convertible preference shares, convertible debenture, warrants, or units that will\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zerodha.com\/z-connect\/general\/nro-non-pis-account-opening\" \/>\n<meta property=\"og:site_name\" content=\"Z-Connect by Zerodha\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/zerodha.social\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-27T04:25:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-02T08:28:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/zerodha.com\/z-connect\/wp-content\/uploads\/2020\/11\/NRI-non-PIS-blog-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Lindo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@zerodhaonline\" \/>\n<meta name=\"twitter:site\" content=\"@zerodhaonline\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lindo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/zerodha.com\/z-connect\/general\/nro-non-pis-account-opening\",\"url\":\"https:\/\/zerodha.com\/z-connect\/general\/nro-non-pis-account-opening\",\"name\":\"Introducing NRI account opening using the non-PIS route &#8211; 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