Are you an NRI? If you wish to invest in the stock market of India, then below are the various ways that can make your investment easy and efficient. There are several procedures and paperwork required to carry out such investment.
Appointing A Mandate Holder
A mandate holder could be appointed to locally operate the NRE bank investor of the NRI investor. Once the mandate is registered, the mandate holder can draw cheques, issue cheques, make payments, use ATM card and make deposits on behalf of the NRI.
Power of Attorney
For giving more freedom to the person who can act on behalf of the NRI, a power of attorney can be executed in favor of the person by the NRI.
The POA holder can make and redeem investments & carry out necessary paper work on behalf of the NRI.
If the investor wants to spend money in an investment, instead of giving it to others, he can try hands on to some online investment as well.
Points to note
- the NRI account holder can make limits on the amount of debit that a mandate holder can make.
- While investing through POA, a notarized copy of the POA is required to be submitted along with KYC documents of the POA holder.
- Unlike time zones may make it difficult for NRI to make investments using trading portals.