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Thursday, October 14, 2010

Do NRIs require a PAN Card to invest in India?

As per the new SEBI ruling with accordance to the protocols set by the Income Tax Department of India, anyone who wants to invest in Indian stock markets, invest in India or get into any financial transaction in India needs a PAN – permanent account number. SEBI has made it mandatory for all kind of investors to have a PAN card irrespective of the fact whether he is a resident Indian living in India or a person of India origin (PIO), Non resident Indian (NRI) or an OCI – overseas Indian living abroad to have a pan card; provided he intends to invest in India: primarily in Indian stock markets – viz: Indian mutual funds, stocks, derivatives, bonds or who wants to carry any kind of financial transaction. Read more >>

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