US NRI Investing in Stocks India

[jai_immigration]

NRI Investing in Stocks India:
Wanted to know if any of you have been able to successfully Invest in Stocks/Mutual funds in Indian Market on a REPATRIABLE basis. If so please share your experience and which brokerage you have used. As you know the Indian Market is very hot at this time, makes sense to be able to participate in that story.

I have tried to contact various Indian brokerages like ICICIDirect, HDFC, Kotak...All say that they do not take NRI's from USA for a Brokerage account. No idea what the reason is. Please share your experience.

[bestin]

Originally Posted by jai_immigration

NRI Investing in Stocks India:
Wanted to know if any of you have been able to successfully Invest in Stocks/Mutual funds in Indian Market on a REPATRIABLE basis. If so please share your experience and which brokerage you have used. As you know the Indian Market is very hot at this time, makes sense to be able to participate in that story.

I have tried to contact various Indian brokerages like ICICIDirect, HDFC, Kotak...All say that they do not take NRI's from USA for a Brokerage account. No idea what the reason is. Please share your experience.

I had opened a trading account when i was in India in 2004.I still trade late night from here .

But in your case the better option is to have an account in your father's name provided he has a PAN.One of my friend does this.

I use kotaksecurities and i beleive its 0.06% for intraday and 0.6% for delivery.


U can trasfer or redeem only in NRO account and i beleive kotak has options for online trasfer to ,CITI,UTI(AXIS),HDFC,and kotak bank.Money is not REPATRIABLE ,but still u can have your local expenses in India from that account or bring in some dollars when you travel from India after a vacation.

[gcfriend65]

This post does not relate to eb immigration. moderator close the post please.

Originally Posted by bestin

I had opened a trading account when i was in India in 2004.I still trade late night from here .

But in your case the better option is to have an account in your father's name provided he has a PAN.One of my friend does this.

I use kotaksecurities and i beleive its 0.06% for intraday and 0.6% for delivery.


U can trasfer or redeem only in NRO account and i beleive kotak has options for online trasfer to ,CITI,UTI(AXIS),HDFC,and kotak bank.Money is not REPATRIABLE ,but still u can have your local expenses in India from that account or bring in some dollars when you travel from India after a vacation.

[aranya]

Originally Posted by graj012

Before asking for closing threads
Please contribute

Yes! How dare you ask for non-immigration related thread to be closed without contributing?

[alanoconnor]

.

[kutra]

Originally Posted by jai_immigration

NRI Investing in Stocks India:
Wanted to know if any of you have been able to successfully Invest in Stocks/Mutual funds in Indian Market on a REPATRIABLE basis. If so please share your experience and which brokerage you have used. As you know the Indian Market is very hot at this time, makes sense to be able to participate in that story.

I have tried to contact various Indian brokerages like ICICIDirect, HDFC, Kotak...All say that they do not take NRI's from USA for a Brokerage account. No idea what the reason is. Please share your experience.

If brokerages won't take you, open up accounts directly with your mutual funds. Several of my friends have done this. Alternatively, you can invest in US MFs/CEFs that invest in India. Example: MINDX, INP, etc.

[a.j.2048]

Thanks for the tip on MINDX. With no-load and an expense ratio of 1.41%, MINDX is cheaper than any Indian mutual fund one can buy.

[miththoo]

Originally Posted by jai_immigration

NRI Investing in Stocks India:
Wanted to know if any of you have been able to successfully Invest in Stocks/Mutual funds in Indian Market on a REPATRIABLE basis. If so please share your experience and which brokerage you have used. As you know the Indian Market is very hot at this time, makes sense to be able to participate in that story.

I have tried to contact various Indian brokerages like ICICIDirect, HDFC, Kotak...All say that they do not take NRI's from USA for a Brokerage account. No idea what the reason is. Please share your experience.

You need a PIS account, NRE account, Trading Account, and Demat account to trade in stocks in India. You may open the PIS account in ICICI , UTI etc banks and then have any offline broker open the trading and demat accounts for you. The offline broker will link you demat account to the PIS account.

[yabadaba]

Originally Posted by miththoo

You need a PIS account, NRE account, Trading Account, and Demat account to trade in stocks in India. You may open the PIS account in ICICI , UTI etc banks and then have any offline broker open the trading and demat accounts for you. The offline broker will link you demat account to the PIS account.

wats a PIS account?

[aat0995]

Also, bcos you are on H1 you are supposed to pay taxes on your earnings in India...

[newbee7]

I am sure you've evaluated/invested in few Indian companies listed in US (ADR's). You can also invest from US in some ETF's or MF's that invest in India. Alternatively, you can open an a/c with US broker like interactive brokers that allow you to invest in London stock exchg. There are a lot more companies listed on London and are known as GDR's.

Check out this list for ADR/GDR(might not be most up to date)

http://adrbny.com/dr_country_profile...&startofprev=0

[gc_chahiye]

Originally Posted by jai_immigration

NRI Investing in Stocks India:
Wanted to know if any of you have been able to successfully Invest in Stocks/Mutual funds in Indian Market on a REPATRIABLE basis. If so please share your experience and which brokerage you have used. As you know the Indian Market is very hot at this time, makes sense to be able to participate in that story.

I have tried to contact various Indian brokerages like ICICIDirect, HDFC, Kotak...All say that they do not take NRI's from USA for a Brokerage account. No idea what the reason is. Please share your experience.

Also, explore the ADR/GDR option.. You can invest in many 'blue-chip' companies based on their ADRs here. the other option is to buy into an ETF that tracks indian companies. A good option (disclaimer: I hold shares in it) is IFN .
BTW thats also a good way to get into Chinese and Brazilian stocks. some of the chinese companies valuations have gone up very very well this year: (Eg: BIDU)

[jai_immigration]

Wow, lot of ideas and tips, it still looks like there is not direct/easy way of opening a repratriable Demat account and onvest online in stocks. Looks like this can be done using some offline brokers, wonder why such a poor service to NRI customer.

Anyhow will explore further on some the alternative options, like MINDX, MF/ETF's investing in Indian Market, good tip, I was not aware of. Lets keep this posting going, will help all our folks who would like to invest in Emerging Market. I know this is not related to immigration, but this will help all us since some of us here are NRI interested to invest in India/China. Thanks again.

[sam_hoosier]

Originally Posted by bestin

I had opened a trading account when i was in India in 2004.I still trade late night from here .

But in your case the better option is to have an account in your father's name provided he has a PAN.One of my friend does this.

I use kotaksecurities and i beleive its 0.06% for intraday and 0.6% for delivery.


U can trasfer or redeem only in NRO account and i beleive kotak has options for online trasfer to ,CITI,UTI(AXIS),HDFC,and kotak bank.Money is not REPATRIABLE ,but still u can have your local expenses in India from that account or bring in some dollars when you travel from India after a vacation.

As an NRI in the US, there are some restrictions on online trading. Did you open your account as an NRI or Resident Indian ?

[bestin]

Originally Posted by sam_hoosier

As an NRI in the US, there are some restrictions on online trading. Did you open your account as an NRI or Resident Indian ?

Hi i opened my account when i was a resident Indian in 2004.