About Us Online Trading Our Services NRI Institutional Broking Equity and Derivatives Depository Services Currency Derivative Commodity PMS Insurance Market Equity Commodity Derivatives IPO Mutual Fund Commodity RESEARCH MEDIA PARTNER US LOCATE US   FAQ Note NRI Why India Our Service Matrix FAQ Note Eligibility Help Line Investment in India made easy for Non Resident Indians (NRIs) SATCO is one-stop-shop to Non-Resident Indians (NRIs) for investments in Indian Capital Market. NRIs can invest in both Primary Market and Secondary Market through SatcoDirect. We offer wide range of services to ensure that NRIs feel at home while they take their investment decisions. A NRI Account Holder of SATCO can …. Invest and Trade in Shares listed in Stock Exchange Trade in Futures & Options ( Derivatives) Invest in Mutual Fund Invest in IPO Invest/Trade Online in all the above Dematerialise physical certificates and liquidate Click here to view RBI's regulations for NRI Investors. Click here to view the list of Scrips Banned for trading for NRI / PIO clients. NRI Helpdesk : Call: (022) 2645 6677 Email: nri@satco.co.in The customer identification procedure, for opening an NRI Demat and Trading account, requires the following documents to be submitted: Passport Copy Foreign Address Proof Local Address Proof P.I.S. Letter Copy PAN Card Copy NRI trading Account opening charges Rs. 100 / exchange, Demat account charges Rs. 575 Copy of NRO/NRE statement Completely filled application with 3 passport Size photographs Please Note: In respect to the above subject, we would like to inform you that at the time of opening an NRI/FN (Foreign National) Account, all photocopies of documents collected have to be attested by the Indian Embassy/Consulate General/Notary Public/Any Court/Magistrate/Judge/Local Banker, in the country where the NRI/FN resides. The Attesting Authority must affix a verified with originals stamped, on all documents submitted for Account opening and the same should be self-attested by the NRI/FN. If the NRI/FN comes in person to open the account, the above attestation requirement is not applicable. Online Trading is available only to NRIs residing in jurisdictions permitting investments and trading of ‘Indian’ securities on Indian Stock Exchanges. This service is not available to any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where availing of such services would be contrary to any applicable law or regulation or which would subject IDBI Bank Limited, IDBI Capital Market Services Limited and any of their respective affiliates or group companies to any registration or licensing requirement within such jurisdiction. Availability of this service to NRIs is subject to compliance with procedural formalities as prescribed by IDBI Capital Market Services Limited from time to time. The process of reforms as part of liberalization has resulted in greater investment in the Indian economy. India today is ready to face the competition from overseas market and International Investors view India as a potential market for excellent Return on their Investments. The following points substantiate the same Indian economy is one of the fastest growing economies in the world, with a tremendous increase in foreign investments. India is the 4th largest economy, in terms of Purchasing Power Parity and the10th most industrialized economy with a Strong macro-economic performance. We have a broad consensus on reforms, and a liberal and transparent foreign investment regime. A well developed Banking System, vibrant Capital Market, 3rd largest National Stock Exchange and 5th largest Bombay Stock Exchange in the world (in terms of number of trades) speak volumes about the economy. India has offered one of the highest rates of Returns on Investment to its investors over the last one decade. Living in a foreign country never weakens the thread that binds you to your homeland. SATCO understands the varied needs of the NRIs and value their patronage. We offer a bouquet of products and services for NRIs. NRI services desk for personalized assistance to NRI and PIO clients Dedicated offline equity dealing desk Online equity trading platforms Depository services 24x7 back office NRI investment advisory desk PMS IPO and mutual funds Insurance and personal loan solutions Banking support Pan Card assistance    Who is a Non-Resident Indian (NRI)? A Non- Resident Indian (NRI) means a ‘person resident outside India’ who is a citizen of India or is a ‘person of Indian origin’      Who is a ‘person resident outside India’? Under the Foreign Exchange Management Act, 1999 (FEMA), a person who is NOT a ‘person resident in India’, as defined under Section 2 (v) of the Act is considered as a ‘person resident outside India’. The most important change in definition (since FERA 1973) is that the citizenship of a person no longer has a bearing in determination of residential status On expiry, futures can be settled by delivery of the underlying asset or cash. Cash settlement enables the settlement of obligations arising out of the future/option contract in cash.However so far delivery against future contracts have not been introduced and the future contract is settled by cash settlement only.     Who is a ‘person of Indian origin’ (PIO)? ‘Person of Indian Origin’ (PIO) means a citizen of any country other than Bangladesh or Pakistan, if: A) That person at any time held Indian passport; or B) That person or either of his/her parents or any of his/her grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955; or C) The person is a spouse of an Indian citizen or a person referred to in sub-clause (A) or (B). Investment by PIO in Indian Securities is treated the same as the investment by non-resident Indians and requires same approvals and enjoys the same exemptions.      Where can an NRI/PIO open a demat account? NNRI/PIO can open a Demat A/C with any Depository Participant (DP) of NSDL/CDSL.( SATCO Financial Services Ltd. Ltd is a depository participant of CDSL).The NRI/PIO needs to mention the type (‘NRI’ as compared to ‘Resident’) and the sub-type (‘Repatriable’ or ‘Non-Repatriable’) in the account opening form collected from the DP.     What is the process for NRI to invest in Indian Capital Markets? Following is the process for NRI to invest in Indian Capital Markets Open a bank account with a designated bank branch approved by RBI. Apply for a general approval for investment in Indian Stock Market through the bank branch. Open a Demat A/C with a depository participant to act as registered holder of securities. Open account with registered Broking Firm to execute transactions.      What is a P.I.S. Account? Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India (RBI) defined in Schedule 3 of Foreign Exchange Management Act 2000 under which the ‘Non Resident Indians’ and ‘Person of Indian Origin’ can purchase and sell shares and convertible debentures of Indian Companies on a recognized stock exchange in India by routing all such purchase/sale transactions through their account held with a Designated Bank Branch.      How to apply for a P.I.S. Account? The Client needs to apply for a general approval for investment in Indian Stock Market through his designated bank branch, where he holds his NRE/NRO account. The application is submitted to a designated branch of an authorized dealer in India in the prescribed form. No permission is required from RBI.     What is the distinction between NRE and NRO accounts? Funds remitted from abroad or local funds, which can otherwise be remitted abroad to the account holder, can be credited to NRE Accounts. Local funds, which do not qualify for remittance outside India, are required to be credited to NRO accounts.      Eligibility      Is it is necessary to open account with both CDSL and NSDL? Account need to be open with both CDSL and NSDL because Inter-depository transfer is not allowed in commodities.     Who are eligible for opening a commodity trading account? Any individual, Hindu undivided family (HUF), proprietary firm, partnership firm or a company can open a commodity trading account.      Can a NRI, Mutual Fund Bank (MFB) or Foreign Institutional Investor (FII) trade in commodities in       India? Till now NRI’s, MFB’s and FII’s as well as Hedge Funds, Insurers, Momentum Funds, etc – no one is allowed to trade in commodities in India but in the future, the entry of these big players will lead the Commodity market to new heights. -     Is it an advantage to trade in National level exchanges against Regional exchanges? It is always advisable to trade on national level of exchanges as it has unique features.      What is the difference between Spot and Future price? Spot price is the price in the cash market (where one buys and sells goods ‘on the spot’ just as we make purchases from a shop by paying cash) while future prices are prices of the same commodity at a future date which is generally traded through exchange platforms.     Is it possible for one to give / take delivery through future market? Yes, it is possible.     Is physical delivery compulsory? No, delivery is optional. It is only when the seller puts in the intention to deliver that delivery takes place. Otherwise all contracts are cash settled or contracts are pre-specified about delivery nature for a particular Commodity.     What is the delivery procedure? The details of delivery procedure for each commodity are available with the contract specifications of each commodity.     What is Futures Contract? A derivative instrument, Futures is a type of forward contract. Futures are contracts to sell / buy standardized financial instruments or commodities on a specified future date at an agreed price. Futures contracts are used generally for protecting against adverse price fluctuation.     How is Future Prices Determined? Futures prices evolve from the interaction of bids and offers emanating from all over the country – which converge in the trading floor or the trading engine.     What are Margins? The aim of margin money is to minimize the risk of default by either counter party. The Exchanges fix rates of ordinary / initial margin keeping in view need to balance high security of contract and low cost of entering into contract.     What is the difference between Equity Futures and Commodity Futures? In equity futures the underlying asset is the equity share of any company whereas in commodity futures the underlying asset is the commodity itself.     What are the charges to trade in Commodity Futures? As of today, the charges to trade in Commodity Futures include Stamp Duty, Turn Over Charges and Service Tax.     Is options trading in commodities allowed? No, options trading in commodities are not allowed yet but in future it might be introduced.     How would the contracts be settled?? All open contracts not intended for delivery and non deliverable positions at client level would be cash settled.     Can one short sell the commodity without having physical goods / holdings in their Demat account? Yes, as this is the Derivatives contract, you can short sell without having possession of that commodity.     Is there any limit to which price of a commodity can rise or fall in a day? Yes, there are circuit limits or daily price range (DPR) to safeguard the interests of general investors from the extreme volatilities in markets for preventing any unexpected fall or rise beyond a limit.      Is there any limit to the quantity I can trade / hold in any given commodity at any point of time? Yes, there is a maximum permissible limit on holding a particular commodity for client as well as member. It varies from commodity to commodity and exchange to exchange.      Will I receive trade confirmation? Yes, you will receive contract notes for your trades. Further, your dealer / relationship manager will update you accordingly.      How do I know which quality is being traded in futures as Commodities have many qualities? The quality specification of each commodity is mentioned in the contract before it is launched, so it is always advisable to go through the details as given by exchanges.     Is Sales Tax applicable on all trades? If the trade is squared off sales tax is not applicable. Sales tax is applicable only if a trade results into delivery for the seller.     What is collateral? In case of broking business, collateral is any permissible financial instrument pledged as a guarantee for margin requirements.     Can I trade in international exchanges? FMC does not allow trading in the International Exchanges hence we are not providing this service as of now. As and when the regulators permit we will provide the servic     What is a spread position? Going long and short consecutively in two different contracts of the same commodity is known as a spread position.     What is tick size? Gold has tick size of Rs. 1 this means you have to increase / decrease the bid / ask price by at least Rs. 1. Hence, the minimum price movement of any contract is known as the tick size.      I do not want to give/take physical Delivery; will I be allowed to Trade in commodities? Yes, you can trade in commodities even without having obligation/liability of give/take physical delivery. The only condition is that that you will have to Square off your trade before the Expiry of the contract.

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