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We launched Grow NRI with one vision - to make investing in India easy and accessible for NRIs. Now Indian expats can participate in India's growth even from far away.
Experiencing the complexities of managing India's finances from abroad, Grow NRI founded in 2013, a digital platform dedicated to transforming the investment landscape for million Indian expats worldwide.
We work for 24x7 hours to provide best quality services to our customers.
We have a professional team who work day and night effortlessly.
Grow NRI enables all operations from trading to settlement in an absolutely investor friendly manner, pro-active right from opening the accounts to advising tax payments on capital gains, provides prompt response to queries if any.
At Grow NRI our signature approach is to maximize returns and minimize volatility of our client portfolios under varying market conditions using discipline, careful execution, and purposeful choices.
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If you are planning to invest in India then can do but there are few things for NRIs which they should know before investing in India.
Non-residing Indians (NRIs) are the Indian citizens who live abroad and Person of Indian Origin (PIO) refers to the foreign citizen who was born in India, has Indian parents, grandparents, or an Indian spouse.
Any Indian citizen living abroad who wants to start investing in the Indian capital market must -
NRE account- It is the external savings bank account for NRIs. It is known as Non-Resident External Account. It is a regular account for NRIs same as an ordinary savings account. Any funds available in NRE account can be used in any country outside India. These funds can be converted into any foreign currency and can be used for everyday purposes.
NRO account- It is the ordinary account for NRIs. It is known as a Non-resident Ordinary account. Because it is an ordinary account, like a normal savings account, funds available in NRO Bank account cannot be taken to another country from India. This means funds lying in the NRO account can be useful only for transactions in India. However, funds to the extent of 1 milion dollars can remitted abroad by obtaining CA certificate in Form 15 CA/CB, once in any financial year.
Funds can be easily transferred from NRE to NRO Bank account, but no funds can be transferred from NRO to NRE account.
NRIs are allowed to directly invest in the units of Mutual funds, debentures of Indian companies, and shares. NRIs can also create their investment portfolio by purchasing shares/debentures of the Indian companies through stock exchanges. Such facilities are available on both repatriation and non-repatriation basis.
According to section 6(5) of FEMA, NRI can continue to hold the securities which he/she had purchased while being an Indian resident. It is essential to transfer those securities to the Non-resident ordinary (NRO) account.
RBI has advised banks to revise such accounts as resident accounts once the account holder returns to India.