India is the world's fastest-growing major economy. As an NRI, you can participate directly — through equities, mutual funds, IPOs, and PMS — fully FEMA-compliant and guided by Nikunj's dedicated NRI desk.
The Opportunity
India is no longer an emerging story — it's a proven, fast-growing economy with deepening capital markets, a rising middle class, and structural tailwinds that make it one of the most compelling investment destinations in the world.
NRI Investing in India
As an NRI, you have access to virtually the full spectrum of Indian capital markets — equities, mutual funds, IPOs, PMS, and select derivatives — through two regulated account structures: NRE and NRO.
Account Types
Choosing the right account type is the first and most important step. Your Nikunj NRI RM will help you decide which one — or both — is right for you.
| Funding source | Foreign currency / foreign income |
| Repatriability | Fully repatriable — principal & returns |
| Tax on interest | Tax-free in India |
| Joint holding | With another NRI only |
| Best for | Investing foreign earnings in India |
| Trading allowed | Equity delivery, MF, IPO, PMS |
| Funding source | Indian income or foreign remittance |
| Repatriability | Up to USD 1 million / year (post-tax) |
| Tax on interest | Taxable in India (TDS applicable) |
| Joint holding | With NRI or resident Indian |
| Best for | Managing India-sourced income |
| Trading allowed | Equity delivery, intraday, F&O, BTST, MF, IPO |
Trading permissions depend on whether your account is on the PIS (Portfolio Investment Scheme) route or the Non-PIS route — see the comparison below for full details.
Trading Routes
NRIs invest in India through two routes — PIS and Non-PIS. The route you choose determines which trading activities are available to you.
| Trading Activity | NRO Non-PIS | NRE-PIS / NRO-PIS |
|---|---|---|
| Equity Delivery | ✓ Allowed | ✓ Allowed |
| Intraday Equity Trading | ✓ Allowed | ✗ Not Allowed |
| F&O Trading | ✓ Allowed | ✗ Not Allowed |
| Buy Today Sell Tomorrow (BTST) | ✓ Allowed | ✗ Not Allowed |
| Pledging Securities as Collateral (F&O) | ✓ Allowed | ✗ Not Allowed |
| Currency Trading | ✗ Not Allowed | ✗ Not Allowed |
| Commodity Trading | ✗ Not Allowed | ✗ Not Allowed |
| Feature | PIS Account | Non-PIS (Recommended) |
|---|---|---|
| Bank Account Type | Investments from both NRE and NRO accounts | Only NRO accounts supported |
| Bank Requirement | NRE or NRO account with a partner bank | NRO account with any bank |
| RBI Permission | PIS permission letter from RBI via partner bank | No RBI permission required |
| Fund Transfer | Transferred to PIS account first — up to 1 working day | Instant transfer via net banking |
| TDS Handling | Bank deducts TDS (20% STCG, 12.5% LTCG above ₹1,25,000/year) | Nikunj handles TDS |
| Brokerage Charges | 0.5% | 0.3% |
| AMC (Annual Maintenance) | Up to ₹1,500 per year | ₹500 + GST per year |
| BTST Facility | Not available | Available |
Most NRI clients find the Non-PIS route simpler and more cost-effective, with no RBI permission required, instant fund transfer, and lower charges. The PIS route is required only if you specifically need to invest through your NRE account for full repatriability of equity investments. Your Nikunj NRI RM can help you choose the right route based on your goals.
Investment Products
From long-term equity investing to short-term IPO applications — Nikunj gives NRI clients access to the full range of Indian investment products through a single account.
NRI Clients Worldwide
Nikunj's NRI client base spans six continents. Wherever you are, your Indian investments are managed with the same quality and dedication.
Why Nikunj
For NRIs, choosing the right broker matters more — the regulatory landscape is more complex, the timezone difference is real, and the stakes are higher when you can't monitor markets daily. Nikunj is built for this.
Getting Started
The entire process is paperless and can be completed from anywhere in the world. Your NRI RM guides you through every step.
FAQ
Everything NRIs need to know before investing in India with Nikunj.
Yes. NRIs are permitted to invest in Indian equities through the Portfolio Investment Scheme (PIS) or the Non-PIS route, both governed by RBI and SEBI. You need an NRE or NRO Demat and trading account. Under PIS, only delivery-based equity trading is allowed. Under the Non-PIS route (via an NRO account), you can also trade intraday and F&O, in addition to delivery. Nikunj handles the account setup process end-to-end and will help you choose the route that fits your trading needs.
The standard documents required are: Passport (valid), Visa or OCI/PIO card, Overseas address proof (utility bill, bank statement), Indian address proof (if available), PAN card (mandatory for investing in India), NRE or NRO bank account details, and a passport-size photograph. Your Nikunj NRI RM will provide a complete checklist and assist with the documentation process based on your country of residence.
PIS (Portfolio Investment Scheme) is an RBI-mandated framework under which NRIs are permitted to purchase and sell shares of Indian companies on stock exchanges. You must designate one bank as your PIS bank — all equity investment transactions are routed through this account. Only one NRE-PIS and one NRO-PIS account is allowed per NRI. Nikunj coordinates with your bank to set up the PIS permission as part of the account opening process.
NRIs from the USA and Canada face certain restrictions due to FATCA/CRS compliance requirements. While it is legally permissible for them to invest in Indian mutual funds, many AMCs in India do not accept applications from US/Canada-based NRIs due to compliance complexity. Some AMCs do accept such investments with additional documentation. Your Nikunj NRI RM will identify the specific funds and AMCs available to you based on your country of residence and advise accordingly.
NRI investment income is subject to Indian tax. Short-term capital gains on equity (held less than 12 months) are taxed at 20%. Long-term capital gains (held 12+ months) above ₹1.25 lakh are taxed at 12.5%. TDS (Tax Deducted at Source) is applicable on NRI gains at the time of credit. India has Double Taxation Avoidance Agreements (DTAA) with many countries — meaning you may be able to claim credit for taxes paid in India against your tax liability in your country of residence. We strongly recommend consulting a qualified NRI tax advisor for your specific situation.
Yes, subject to account type. Returns from NRE accounts are fully repatriable — both principal and profits can be sent abroad without restriction after applicable taxes. Returns from NRO accounts can be repatriated up to USD 1 million per financial year, subject to payment of applicable taxes and submission of CA certificates. Nikunj's team assists with the documentation required for repatriation.
Yes, NRIs can open a joint Demat account, provided the primary holder is an NRI. The joint holder can be another NRI or, in the case of an NRO account, a resident Indian.
Yes, you can open an NRI trading and Demat account online, but the process varies based on your location. NRIs currently in India can complete the entire process online using e-sign. NRIs outside India can complete the application online but must print, sign, and courier the documents to Nikunj for verification.
You need to notarize your PAN card, passport, and Indian and foreign address proof only if your PAN is not already KYC verified as an NRI, as per CVL-KRA (KYC Registration Agency) requirements. If your PAN is already KYC verified, notarization is not required.
Yes, certain stocks are restricted for NRI-PIS accounts based on foreign investment limits monitored by the RBI. The RBI tracks NRI holdings in listed Indian companies daily through designated banks. When combined NRI holdings approach the company's set limit, RBI issues a caution notice, after which further purchases require prior RBI approval. If the overall ceiling is reached, the company is placed on a ban list and further NRI purchases are not permitted under PIS. You can check current restricted stock lists on the RBI, NSDL, and CDSL websites — your Nikunj RM can guide you to the relevant resources.
You can obtain a Portfolio Investment Scheme (PIS) permission letter through any RBI-authorised bank where you hold, or open, an NRE account. The bank will issue a separate PIS bank account and the permission letter, which you will use specifically for stock market investments — your regular NRE account remains separate. To open an NRE-PIS account with Nikunj, your PIS account needs to be with one of our partner banks, which include IDFC First Bank, Yes Bank, Axis Bank, HDFC Bank, IndusInd Bank, and ICICI Bank. If you do not wish to go through PIS, you can instead open an NRO Non-PIS account, which does not require RBI permission.
Nikunj deducts Tax Deducted at Source (TDS) from your trading profits as per Section 195 of the Income Tax Act, 1961. For Non-PIS accounts, TDS is deducted on gains from capital gains as well as business income (intraday and F&O trading). You will receive a detailed statement showing your profit/loss, TDS deducted, and any carry-forward losses, which you can use for your tax filing.
Yes — completely. Nikunj offers video KYC for account opening, eliminating the need to visit India or an embassy. Once your account is active, you can place trades, start SIPs, apply for IPOs, and monitor your portfolio entirely through our mobile app or web platform from anywhere in the world. Your dedicated RM is available via WhatsApp, email, and video call across time zones for any support you need.
Join thousands of NRIs who trust Nikunj to manage their Indian investments. Open your NRI account today — paperless, from anywhere in the world, guided by your dedicated NRI RM from day one.
