Published Article Details

Easy ways for NRIs to invest in Indian stock market

Posted by: Girija Gadre on Aug 14, 2017, 06.30 AM IST

Non Resident Indians (NRIs) who wish to invest in the Indian securities markets wonder whether they will be able to manage the operational procedures and paperwork involved in carrying out such investments.

However, there are various ways in which investments can be facilitated and efficiently managed by NRIs.

Appointing a mandate holder
A mandate holder can be appointed to locally operate the NRE bank accounts of the NRI investor. The NRI must fill up and sign an "Appointment of mandate holder" form that can be obtained from the bank. KYC documents and specimen signature of the mandate holder should be submitted with the form.

The mandate holder is also required to sign the form. Once the mandate is registered, the mandate holder can draw cheques, issue cheques, make payments, use ATM card and make deposits on behalf of the NRI.

Power of attorney (POA)
In order to provide more freedom to the person who can act on behalf of the NRI, a power of attorney can be executed in favour of the person by the NRI. A POA must be executed on the prescribed stamp paper and purpose of the POA must be clearly mentioned. The POA holder can make and redeem investments and carry out necessary paperwork on behalf of the NRI.

Online investing
If the NRI investor wants to be "hands-on" when it comes to investing, instead of giving authority to someone else, he can seamlessly carry out transactions by himself on online trading portals. There are many trading portals of brokers available for NRI investors and registration for these is possible after opening trading accounts with the broker.

Points to note
1. The NRI account holder can set limits on the maximum amount of debit that the mandate holder can make on the account.
2. While investing through POA, a notarized copy of the POA is required to be submitted along with KYC documents of the POA holder.
3. Different time zones may make it difficult for NRI to make investments using trading portals. This article appeared in Economic Times dated Aug 14, 2017, 06.30 AM IST

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