Foreign Institution

Foreign Institution

  • Allowing foreign investors to participate in IPO and Right Issue without any regulatory restrictions
  • Withdrawal of all regulatory restrictions on international portfolio investors in the secondary securities market
  • No capital gain tax on individuals (subject to the condition that such assesse is entitled to similar exemption in the country in which he/she is resident)
  • 25% tax deducted at source on dividend earnings for foreign individuals
  • 20% tax deducted at source on dividend earnings for foreign institutions and 10% tax on capital gain
  • 100% investment is repatriable without any regulatory hassle
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  • BO Account opening is free of charge
  • Settlement and Transaction costs are inclusive of brokerage commission
  • Free advisory service
  • Trade order could be placed via email or over phone call at the convenience of the client
  • Apply to IPO through us
  • Foreign institutions
  • Institutions located abroad which are owned by NRBs

For Sell

  • On T+0 or before, client will place sell order (through e-mail or FAX) to us (the broker).

  • It is suggested that the client ensures all the shares are sellable and ready to be transferred to the clearing account of the broker.

  • On T+0, the broker executes the trade in the exchange and sends trade confirmation to client accordingly after the trading hours. (through e-mail or FAX)

  • The same trade confirmation will also be sent to the client’s local custodian bank on T+0. (After trading hours)

  • The custodial bank will pay-in the sold shares immediately to the clearing account of the broker.

  • The broker will make payment to the custodian bank by T+1. (Here, for “Z” category stocks, the broker will make payment to the custodian bank by T+9)

For Buy

  • On T+0 or before, client will place buy order (through e-mail or FAX) to us (the broker).

  • It is suggested that the client ensures the availability of required balance to purchase securities on his/her NITA account and ready to be transferred to the broker.

  • On T+0, the broker executes the trade in the exchange and sends trade confirmation to client accordingly after the trading hours. (through e-mail or FAX)

  • The same trade confirmation will also be sent to the client’s local custodian bank on T+0. (After trading hours)

  • Custodial bank will issue pay cheque to the broker on T+0, the exact purchase amount plus the broker commission.

  • After the payment is received from custodial bank the broker is clear to pay out the purchased shares to the custodial bank.

  • On T+2 the broker is expected to receive shares from exchange clearing house and payout shares to the custodial bank. (T+9 will be applied for “Z” category stocks).

  • Company NITA A/C number with custodial bank or A/C statement
  • Board Resolution
  • Memorandum and Articles of Association
  • Specimen signature of account operators
  • Letter of Authorization
  • A valid photo ID of the Managing Director
  • Valid photo ID of Account Operator(s)