What is the status of shares purchased in primary market/secondary market as a resident Indian, once the customer becomes a NON-RESIDENT?
The shares purchased through Primary / Secondary market as a resident will be held on non repatriation basis, once the customer becomes an NRI. These these shares can be credited to NRO DEMAT account. These shares can be sold in secondary market without PIS permission. The sale proceeds can be credited to NRO SB account after payment of capital gain taxes.
Related Questions
- In case a resident Indian become a non-resident, will he/she be required to change the status of his/holding from Resident to Non-Resident ?
- In case a resident Indian become a non-resident, will he/she be required to change the status of his holding from Resident to Non-Resident?
- What is the status of shares purchased in primary market/secondary market as a resident Indian, once the customer becomes a NON-RESIDENT?