Who is an NRI?

A person who has been in India for 182 days or more during a financial year and 365 days or more during the preceding four financial years qualifies as a resident of India.NRIs can continue to enjoy non-resident status in India if their presence in the country is more than 60 days but less than 182 days in a financial year, even if their stay in India during the past four financial years is 365 days or more.A person, who has been deputed overseas for more than 6 months, also qualifies for non-reisdent status.

NRIs who wish to invest in Indian stock market are deterred because of the operational issues that come along. However, due to technological advancements and ease of legal implications, it has become easy for an NRI to invest in the Indian Market. Here are the ways

• NRI can ‘Appoint a mandate holder’ by filling a form and submitting it with the bank. The mandate holder must also sign this form to get the authority to perform the transactions in the place of the NR.
• NRI can appoint Power of attorney in the favor of the person to help him transact with more freedom. POA can initiate and redeem investments on the behalf of the NRI
• ONLINE PORTAL- To avoid all the trouble of appointing authorities, NRIs can invest through online portals. These portals are customer-friendly and easy to use.