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Exclusive privileges for NRIs

  • Exclusive privileges for NRIs

  • Automated Regulatory Reporting

  • Auto settlement of Secondary Market transactions

  • Tax Deducted at Source (TDS) on PIS sale transactions

Things you should know

  • PIS is mandatory

    For NRIs to trade in Indian stock markets through NRE Accounts

  • Repatriable

    Investments done using NRE PIS Account are fully repatriable

  • Single PIS account

    Customer should open a single PIS Account with an authorised bank

About Portfolio Investment Scheme (PIS)

Benefits of Opening a PIS Account with ICICI Bank

An NRI PIS Account is the channel that allows NRIs to invest in equity shares of listed Indian companies. The customer/stockbroker should ensure that buy and sell transactions are reported to ICICI Bank. Authorised Dealer Bank will report the trades to regulators, ensuring compliance with applicable guidelines.

PIS Account Fees & Charges

PIS Account charges include a one-time fee for PIS approval issuance or NRO ledger creation, along with an annual account maintenance fee, as outlined in the Schedule of Charges. The PIS approval issuance/NRO ledger creation fee is ₹1,000 (one-time), while the annual account maintenance fee is ₹1,000 per year. In addition, a transaction and reporting fee of ₹50 per contract note applies and the issuance of a Form 145/146 for long-term or short-term capital gains is charged at ₹120 per certificate. Applicable GST is levied on all these charges.

Features of NRE PIS Savings Account

This account is used to route funds for equity investments on a repatriation basis. It allows credit for overseas income and supports a debit for share purchases. The balance is maintained in Indian Rupees and repatriation is permitted as per RBI norms. An active NRE Account is mandatory to enable NRE PIS transactions smoothly. To start investing in shares of Indian companies listed on recognised stock exchanges through the NRI Portfolio Investment Scheme (PIS), you must open an NRE Savings Account with ICICI Bank.

Open NRE Saving Account

Choose ICICI Bank as your Authorised Dealer Bank for PIS services.

How to Apply for PIS?

ICICI Bank acts as the Authorised Dealer Bank to monitor investments under the RBI guidelines. After approval, the PIS Account for NRI investors is linked to the Demat and Trading Account. This structure ensures all equity transactions remain compliant.

Follow these steps to apply for a PIS Account with ICICI Bank.

Note: Customers in India can visit any ICICI Bank branch to open a PIS Account.

Link NRE PIS Account

Link your NRE PIS Account to your Trading and Demat Account

Simple Transaction Routing

ICICI Bank offers a simplified process for routing secondary market transactions through a PIS Account.

Wider Stock Market Access

With a PIS Account, NRIs can invest in a wide range of listed Indian equities. This includes shares traded on recognised stock exchanges in India. The NRI PIS Account enables participation in India’s equity markets on a repatriation basis through NRE PIS.

FAQ for PIS Account for NRIs

What is Portfolio Investment Scheme (PIS)?

Portfolio Investment Scheme (PIS) allows Non-Resident Indians (NRIs) to invest in shares or convertible debentures (sale or purchase) of an Indian company in the secondary market on repatriation basis through a registered stock broker on a recognised stock exchange.

How do I transfer funds into my NRI PIS Account?

For an NRI PIS fund transfer, you must transfer funds from your linked NRE Savings Account to your designated PIS Account. You can initiate the transfer through Net Banking or Mobile Banking. The transferred funds are used to settle equity transactions.

Can an NRI customer have multiple designated banks for PIS?

No, an NRI can have only one designated bank for PIS.

Can NRE PIS accounts be opened with Joint holders?

NRE PIS Accounts can be opened in joint names; however, the PIS approved for the account is applicable only to the primary holder. If a joint holder (NRI) wants to trade in the secondary market, they need to open a separate NRE PIS Account.

How can an NRI customer report transaction details to ICICI Bank, if it is their Authorised Dealer (AD Bank)?

An NRI customer having a PIS Account with ICICI Bank can send the contract notes to the following address or email the contract note to pins@icici.bank.in from their registered E-mail ID:

ICICI Bank Limited,
Portfolio Investment Services Cell
215, Free Press House
Nariman Point Branch
Mumbai, Maharashtra
India - 400 021

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