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Are OCIs eligible to invest in Indian Share Market?

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Posted on 17/09/2010 2:01 pm

Are OCIs eligible to invest in Indian Share Market?

Dear Friends,

I have searched the forum but didnt find an answer and so, posting a new question here.

I would like to know whether OCI Holders(Overseas Citizen of India) eligible to invest in Indian stock exchange. Anybody had experience in it? Please share. I have googled and i see only NRIs can invest in Stock Market but nowhere mentioned about OCI Holders.

If you have any links, please post.

Many Thanks,
Mohan.

meetmohan

Member since 24/11/2008

 

Posted on 24/09/2010 11:43 pm

Re: Are OCIs eligible to invest in Indian Share Market?

@Rohith,

Thanks for the comparitive chart of NRI, OCI...May be as you told, the public is not aware of the term OCI.

@Raj,
Thanks for the interesting and useful link:
http://www.sbicaps...om/OurNRITrading.aspx

I will surely contact them but the other link motilalOswal, i see nowhere mentioned about OCI. Anyway, one link is more than enough, many thanks.

Cheers,
Mohan.

meetmohan

Member since 24/11/2008

 

Posted on 12/04/2011 1:19 pm

Re: Are OCIs eligible to invest in Indian Share Market?

Hallo,

OCI card holders are eligible to hold and maintain NRI/NRO bank accounts in India after getting German Citizenship?

Thank you

justdoit

Member since 11/10/2009

 

Posted on 18/04/2011 3:31 pm

Re: Are OCIs eligible to invest in Indian Share Market?

@justdoit

AFAIK, law does not force one to give up all things one holds after a change in one's status. Just because you created these accounts when you were still an Indian citizen, they all can still be used legally.

Rohith

Member since 06/05/2005

 

Posted on 18/04/2011 5:09 pm

Re: Are OCIs eligible to invest in Indian Share Market?

OCIs are at par with NRIs except you cant commit scam such as Raju did or you cant agigitate like anna hazare...

subir79

Member since 16/07/2007

 

Posted on 18/04/2011 6:06 pm

Re: Are OCIs eligible to invest in Indian Share Market?

Sometimes I (being an NRI) too think there is no difference (from the tax perspective) in investing in mutual funds through a local (non-nre) account.

Because as per the law there are no tax/exit-load difference for NRIs and residents. http://www.hdfcfund.com/NRI/
Questions to watch:
What is the tax liability for income received from your mutual funds?
What is the tax liability on redemptions?

Which leads me to another question: When I am going for vacation, is it legal to invest in Mutual Funds through a normal account that I opened when I was a resident Indian.

Please shed some light on this...

geeklikegeek

Member since 07/03/2011