How NRINRO Invest or Trade in Indian Stock Market through ICICIDirect.com- Demat account for NRI.

How NRINRO Invest or Trade in Indian Stock Market through ICICIDirect.com- Demat account for NRI.

​Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can invest or trade in the Indian stock market through ICICIdirect.com by opening an NRI 3-in-1 account, which integrates a bank account, a trading account, and a Demat account. Here’s a step-by-step guide:​

1. Account Opening:

• Choose Account Type: Decide between a repatriable account (NRE) for funds transferable abroad or a non-repatriable account (NRO) for funds retained in India.​

• Complete Application: Fill out the NRI account opening form available on ICICIdirect’s website.​

• Documentation: Submit necessary documents, including:​

  • Passport-sized photograph

  • Copy of passport

  • PAN card copy

  • Visa copy

  • Overseas address proof

  • FEMA declaration

  • Cancelled cheque of NRE/NRO account

• Verification: Ensure documents are attested by the Indian embassy or notary in your country of residence.​

• Submission: Mail the completed form and documents to ICICI Bank’s Mumbai office.​

• 2. Funding the Account:

• Link Bank Account: Connect your NRE or NRO account to facilitate fund transfers.​

• Fund Transfer: Transfer funds from your overseas bank account to your linked NRE/NRO account.​

3. Trading and Investment:

• Equity Investments: NRIs can engage in delivery-based equity trading on NSE and BSE but are restricted from intraday trading and margin trading.​

• Mutual Funds and IPOs: Investments in mutual funds and initial public offerings are permitted.​

• Futures & Options (F&O): NRIs can trade in F&O segments, subject to specific guidelines.​

• 4. Charges and Brokerage:

• Account Opening Fee: Approximately ₹4,000.​

• Annual Maintenance Charge (AMC): ₹1,200 plus GST.​

• Brokerage Fees: Varies based on the transaction type; detailed information is available on ICICIdirect’s brokerage plan page.​

5. Regulatory Compliance:

• Portfolio Investment Scheme (PIS): NRIs must route equity investments through PIS accounts to allow RBI monitoring.​

• Repatriation: Ensure compliance with RBI guidelines for repatriating investment proceeds.​

For comprehensive details and assistance, visit ICICIdirect’s NRI services page or contact their customer support.