Invest in Indian stocks with an NRE PIS Account

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 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.

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.

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

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.

• Fill 3-in-1 Account opening form (which includes PIS) online through ICICI Bank website
• Upload the required KYC documents as per the checklist
• 3rd party attestation on KYC documents
• Print the completed application form
• Verify documents using the provided checklist
• Visit your nearest ICICI Bank branch or use courier services to submit the signed form

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

Link your NRE PIS Account to your Trading and Demat Account

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

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.

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.

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.

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

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.

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