What is the DMAT account
Indian demat account
As an NRI, there are certain limitations as well as advantages.
Restriction on holding a certain number of shares in the company, hence the need to open a new account so that the bank can keep track of the holdings and inform the regulator.
Benefits related to the ability to repay any amount from transactions on this account.
To simplify this, there are 2 accounts, NRO Demat Account (Non PINS): Essentially, this does not allow the repatriation of funds automatically [like NRE], but rather NGOs with an amount of up to USD 1 million per year.
NGO Demat account PINS: Here you can buy fresh shares and take the proceeds out of the country without limit.
In short, you need an NGO Demat NON PINS account. Transfer your existing shares here. Sell whenever you want.
Open an NGO Demat PINS account. If you want to buy more with NRI status and do not want to buy, this account is not required.
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