Portfolio Investment Scheme (PIS) | RBI-Approved Route for NRI Investments

The RBI’s Portfolio Investment Scheme (PIS) enables Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs) to invest in Indian stock markets. Under PIS, eligible investors can buy shares and convertible debentures of listed Indian companies via designated bank accounts and authorized depository participants.

  • RBI-Regulated Investment Route PIS is governed by RBI and enables controlled foreign investment in Indian securities.
  • Eligible Investors NRIs, PIOs, and OCIs can invest in listed Indian shares and convertible debentures.
  • Designated Bank Accounts Transactions must be routed through an NRE or NRO account with RBI-authorized banks.
  • DP Account Requirement Investors must appoint SEBI-registered Depository Participants to hold securities in demat form.
  • Repatriation Rules Repatriation of sale proceeds is allowed, subject to taxes and FEMA compliance.
  • Tax Compliance Investments under PIS are subject to capital gains tax and other applicable regulations for non-residents.
  • Regular Reporting Obligations Investors must follow RBI’s reporting framework for all transactions.
  • Restricted Instruments Investment is limited to listed equity and convertible debentures; some securities are excluded.
  • FEMA Compliance Required All transactions must comply with FEMA and other RBI-issued guidelines.

Why Choose the PIS Route for NRI Investments? The PIS framework simplifies foreign participation in Indian markets while ensuring regulatory transparency and investor protection. By investing through authorized channels, NRIs and PIOs gain seamless access to India’s capital markets.

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