Heading says it all. Apparently, US resident NRI are not allowed by most Indian banks to invest directly in Indian stock market or mutual funds. Does anyone know any way to invest in India ? #tech #investment
INDA, INDY, SMIN, NFTY, EPI, FLIN …. U r welcome !!!
Thanksssss ! Are these tickers available in fidelity/charles Schwab/ robinhood etc ?
Why don’t you look it up??
NRIs are allowed but the process is convoluted so some brokerages may not offer. You need to open a PIS account and do a lot of documentation. It’s easier to just buy ETFs in US stock exchanges that track Nifty.
Are there passive etfs?
INDA, INDY, NFTY
NRIs can invest in mutual funds directly via Aditya Birla sun life and HSBC. There are a couple of others https://groww.in/blog/how-can-nris-invest-in-mutual-funds-india
Oh is it. Will enquire
I would like to invest in Indian etf’s too . Any recommends ??
are you NRI or Non-Indian ?
Nri
You could open NRI trading account (ICICI direct ,Kotak ,HDFC) offering the service . This would help you to trade stocks /MF.
I still have my resident account and linked demat account. I trade from here at night, no problems so far. I even file ITR-1 every year to recover the TDS on my FD interest
This is illegal if you are outside of India 🇮🇳 over 180 days. You are supposed to transfer your resident account to non-resident.
Well I haven't had luck with that for the past 10 years. Each time I go to India to visit family and friends, I go for about 3 weeks at a time. Every time I go to the bank with a simple request to convert my resident account to non resident there is a mountain of paper work and multiple visits to the branch or meet a specific person to get it done. So what ends up happening is I give up due to short of time as I have other things to do, places to be and ultimately have to fly back to US. The process is very difficult and unnecessarily complex, changing document requirements and with no way to do it online. When I keep calling and visiting the branches, I have had bank agents themselves tell me to just keep my resident account and avoid all the paperwork. 🤷🏻♂️ I have literally asked them isn't that illegal and all they tell me is to not worry about it and come back to the branch next time I visit
May be hawala account?
It's easy not that hard. Open up a zerodha account. You need to provide some documentation. That's it
Why invest in Indian stocks. The market there is pretty sketchy, right?
Yes and the next ten years I think india will grow quite a lot
Hmm. Can you create a trust in India and fund it from here? Then have the trust invest in there for you?