Can I open a Demat account in India from abroad?
You need 2 things One a Demat Account and second a Broker Account. If you need to trade online, then an agreement [Power of Attorney] between Your Saving Bank Account, the Demat Account and the Trading Account. So there are quite a few forms that need signature and proof of identify. Physical presence is required. "To trade stocks in India, you need a copy of your pan card, address proof(passport or driving license/electricity bill), income tax return (if you are trading futures & options and currencies), and a cancelled cheque from the bank. You will also need to sign across your recent photographs, and require various other forms from a brokerage house which need to be signed in the brokers presence. If your stock broker trusts you, and you have all these documents, then you CAN open a DEMAT account in India by signing and sending him all these documents. Otherwise you CANNOT, as every single form states that ""this particular document was signed in my presence"", and the stock broker needs to sign under that clause.  Chances are, if you live abroad, no broker will ever trust you with any kind of margin, and therefore cannot make profits from you, so they will not agree to open your account." Yes NRIs are allowed to open a DEMAT account in India from abroad.  Investments can be made under the Portfolio Investment NRI Scheme (PINS) either on repatriation or non-repatriation basis.  As per,the guidelines of the Reserve Bank of India it is  mandatory for NRIs to open a trading account with a designated institution authorized by the RBI.  They must avail either a Non-Resident Ordinary (NRO) or Non-Resident External (NRE) account to route the various investments.
Best consult a CA as you may anyway need his/her service. I am NRI, availed secured loan (Against house property) in India and now I want to get that money transferred to Finland. Loans by NRI taken in India cannot be transferred outside of India. Refer FOREIGN EXCHANGE MANAGEMENT (BORROWING AND LENDING IN RUPEES) REGULATIONS Loans in Rupees to non-residents 1[***].     7. Subject to the directions issued by the Reserve Bank from time to time in this regard, an authorised dealer in India may grant loan to a     non-resident Indian, (B) against the security of immovable property (other than   agricultural or plantation property or farm house), held by him in   accordance with the Foreign Exchange Management (Acquisition and   Transfer of Immovable Property in India) Regulations, 2000 :   ......   Provided that-   (d) the loan amount shall not be remitted outside India; Alternative: Sell the property in India, transfer the proceeds to NRO account. Repatriate the funds outside India as per Liberalized Remittance Scheme. Form 15CA/CB with CA certificate will be required. The US will let you keep as much money as you want to within its borders regardless of your citizenship. You'll owe capital gains tax in the US unless you're subject to a tax treaty (which you would probably make as an election in the year of the transaction). I don't know if India has any rules about how it governs its citizens' foreign assets, but the US requires citizens to file a form annually declaring foreign accounts over $10,000. You may be subject to additional Indian taxes if India taxes global income like the US does. foreign income, transfer it to my savings account in India  Yes you can transfer to India. The right account would be NRO/NRE. As an NRI one should not hold a regular savings account. forum that foreign income is not taxable unless used to buy stocks, fds etc If you are an NRI, income earned outside of India is not taxable in India. However any income you generate in India is taxable, i.e. interest income, gains from shares etc. Do we need to pay taxes for the money transferred No tax if you are an NRI even if you transfer funds to India. Taxation does not depend on whether or not you transfer the money, it depends on your status used to pay home EMIs or principle amount? You can use the money for what ever you like. For the financial year 1 April 2014 to 31 March 2015 as you have / will be spending more than 182 days outside of India, you are Non-Resident from tax point of view. For the period 1 April 2014 to Aug 2014, any salary / income you have earned in India is taxable and tax need to be paid. For the period Aug 2014 to 31 March 2015 the income you have earned in Saudi is not taxable in India. You can transfer money to India or keep in Saudi, it has no effect on the taxes. Any interest income you earn, or rental income you earn, or any other source of income in India is taxable. You would need to file returns accordingly. An NRE Accounts allows you to transfer funds out of India without any questions. So if you intend at some point in time in future to move funds out of India [say settling down in Saudi or UK or US etc] it is advisable to have NRE account. If you are sure you don't want to transfer funds out of India, you should open an NRO account. "I have three savings accounts that are currently open in India in different banks. Is it legal to have savings accounts open while I am in the US? If you are NRI [from what you have stated you are], you cannot hold a ""Savings"" account in India. Please have the accounts converted as NRO at the earliest. It is a simple matter of contacting Bank and completing formalities with some paperwork. do I have to declare this fact in the tax filings in US given that my tax is already deducted?  Yes, interest would be taxable in US. Does my father have to declare the additional deposits? No.  Edit to reply to comment: RBI Economic Times" "Quite a few Bank in India allow Funds Transfer via ATM. One has to first register the beneficiary account and wait for 24 hrs before transacting. However it looks like ""Indian Bank"" currently does not offer this service. You can call up Indian Bank and ask if they provide this service.  Alternativly use the Internet Banking to transfer funds to CitiBank or any other Bank in India." You can invest upto $200K per year abroad, and yes, you can buy Google as a stock. Consider opening an international account with a broker like interactive brokers (www.interactivebrokers.co.in) which allows you to fund the account from your local Indian account, and then on, buy shares of companies listed abroad. The best way is to approach your bank and fill out a transfer form to send USD to your US account (if you are visiting India). They will require quite a number of proof (AADHAR, PAN, Passport) copies.  Otherwise speak to your bank about how to do a wire transfer from your India A/C to US; after de-moitization regulations have tightened, the best course of action would be to speak to your bank directly. There are no legal restrictions on doing this. If you're living in the UK, just open an account like any other resident of the UK would. My answer is with respect to the United States. I have no idea about India's regulatory environment. You are opening yourself up to massive liabilities and problems if you deposit their money in your account. I managed investment accounts as a private investment advisor for years (those with less than 15 clients were not required to register) until Dodd-Frank changed the rules. Thus you would have to register as an advisor, probably needing to take the series 65 exam (or qualifying some other way, e.g. getting your CFP/CFA/etc...). I used a discount broker/dealer (Scottrade) as the custodian. Here's how it works: Each client's account was their own account, and I had a master account that allowed me to bill their accounts and manage them.  They signed paperwork making me the advisor on their account.  I had very little accounting to handle (aside from tracking basis for taxed accounts). If you take custody of the money, you'll have regulatory obligations. There are always lots of stories in the financial advisor trade publications about advisors who go to jail for screwing their clients. The most common factor: they took custody of the assets. I understand why you want a single account - you want to ensure that each client gets the same results, right? Does each client want the same results?  Certainly the tax situation for each is different, yes?  Perhaps one has gains and wants to take losses in one year, and the other doesn't. If their accounts are managed separately, one can take losses while the other realizes gains to offset other losses. Financial advisors offer these kinds of accounts as Separately Managed Accounts (SMAs). The advisors on these kinds of accounts are mutual funds managers, and they try to match a target portfolio, but they can do things like realize gains or losses for clients if their tax situation would prefer it. You certainly can't let them put retirement accounts into your single account unless the IRS has you on their list of acceptable custodians. I suggest that you familiarize yourself thoroughly with the regulatory environment that you want to operate under. Then, after examining the pros and cons, you should decide which route you want to take.  I think the most direct and feasible route is to pass the Series 65, register as an investment advisor, and find a custodian who will let you manage the assets as the advisor on the account. Real estate is another matter, you should talk to an attorney, not some random guy on the internet (even if he has an MBA and a BS in Real Estate, which I do). This is very much a state law thing. Easily transfer your earnings to India with HDFC Bank's NRE Savings Account. The Non Residential External Account allows you to repatriate the funds held in the account at any point of time. Open a NRE Savings Account now! Check out our website to know more! Yes Absolutely! You will need to provide Sharekhan with a cancelled cheque from OBC which has your account number and name on it. They will link that to your DMAT account, and any settlements/dividends paid will directly be deposited into your OBC bank account.  Any time you need to deposit money into your DMAT account, you will need to provide Sharekhan with a checque from OBC and they will credit the amount and you can buy anything you like. Cheers. If you are using the money to invest in a property (even abroad) then you can claim tax exemption. while some people will tell you that the reinvestment should be in India only, it have been ruled that the property can be purchased abroad too.. Yes, you can transfer money to your account, any bank will do it. The conversion charges will be there i.e. the diff between USD and the rate at which the bank sells it, usually Rs. 2/-, appx. In addition, transaction charge (not very high). As for taking from friends & repaying in India, check UAE tax treatement for taking money from friends (is it considered as your income & are you liable for taxes). As for giving back, get some documentation done as a loan, otherwise your friends may be considered to be taking gift/consideration/income from you and taxed. Most straight forward way is to transfer the money from your mother's account. Yes, you can open a Trading Account at one place and a Demat Account at another place. Therefore you can open Trading Account at Sharekhan and Demat Account at OBC. However, it would be more convenient for you if both the accounts are opened at the same place which would reduce unnecessary work after every transaction.