On registration you would receive an e-mail providing you with the application form.
You can fill in the the application form.
3 in 1 Account opening
Standalone Demat Account Opening Form - this form has to be filled in as many copies
as many demat accounts to be opened. You can fill in maximum of 4 demat account
as each Demat account would be linked to 4 Trading account.
You need to provide below documents. Refer instructions page on the form for details
on the documentation requirements.
Passport Copy
Visa Copy
Address Proof
Coloured Photographs
PAN Card Copy. If you do not have a PAN Card you get the provide us with the PAN Application Form along with
the account opening for us to assist you in applying for a PAN.
All the documents needs to be self attested and to be attested by ICICI Bank Employee
/ Indian Embassy
.
Kind Attention : NRI AOC Desk.
ICICI Securities Ltd
ICICI Bank Towers
A - Wing, 3rd floor.
Behind Chandivali studio
Chandivali,Andheri(E)
Mumbai - 400072.
Our Account Opening Charges is Rs.6500 for UK Customer and Rs.4000 for others .
You can enclose a Cheque / DDthe in the name of "ICICI Securities Limited".
8.1.b How to convert my Resident I Direct Account to NRI I Direct Account.
Resolution:
Existing Resident Trading Account and Demat Account cannot be converted to NRI Status
and vice versa. The below mentioned process has to be followed in case of change
in Residential status:
Change in Resident status from "Resident Indian to Non Resident Indian" :
You need to close the existing Resident Trading Account by filling the Closure request form.
You can either close or convert your existing Resident Saving Bank Account to NON
Resident Status i.e NRO account only. For closing Resident Bank account you can
contact ICICI Bank Branch.
You can opt for conversion of your Resident Bank Account to NRO Account in 3 in
1
NRI I Direct application.
Fill in the new NRI ICICI Direct Account Opening form.
Once the new Trading, Bank and Demat accounts are opened, you would be able to transfer
shares from your Resident Demat Account to your NRO NON PINS Demat Account only.
For form
click here.
Similarly, Mutual Funds from your Resident Trading Account, can be transferred to
your NRO NON PINS Trading Account. For form click here.
8.1.b How to convert my Resident I Direct Account to NRI I Direct Account.
Note:
Demat Transfer Cum Closure request and Mutual Fund Internal Transfer request can
be submitted only once the NRO NON PINS Trading and Demat accounts are opened.
Shares and Mutual Fund from Resident Account can be transferred only to NRO NON
PINS Trading and Demat Account.
8.2.a What are the types of account that can be opened ?
Resolution :
The types of Account that ICICI Direct provides to NRI clients would be :
PINS (Portfolio Investment Scheme) Account : is a scheme of RBI through which
NRIs and PIOs can buy and sell shares and debentures of Indian Companies through
the Indian stock exchanges.
NON PINS Account : By regulations, there is no Non-PINS. Everything that
is not PINS is Non- PINS. NRE-PINS : This allows for transactions under PINS on repatriable
basis. NRE-Non-Pins : This allows for transactions under Non –
PINS on repatriable basis. NRO-PINS: This allows for transactions
under PINS on Non-Repatriable basis NRO-Non-Pins: This allows for transactions
under Non-Pins on Non-Repatriable basis.
NRI's based in UK cannot invest in MF & IPO through ICICIdirect.com
Types of Account
PINS
Non-PINS
For buying & selling shares of Indian Companies through In Indian Stock Exchanges.
For Selling of shares bought in IPO or as a Resident, Investment into Mutual Funds
and trading in derivatives
8.2.b What are the transactions covered under PINS Account and NON PINS Account.
Resolution :
Note: Shares received under PINS- Bonus shares received under PINS cannot be
sold through this account, however needs to be transferred to NON PINS for selling.
8.2.c How to transfer bonus shares from PINS to NON PINS Account.
Resolution :
Bonus shares cannot be sold through PINS Account, you need to transfer them to NON
PINS Account.
Modes of transferring the shares.
Transfer instruction for delivery Slip ( TIFD )
E- Instruction Facility.
Internet Banking
Interactive Voice Recorder ( IVR )
Speak to Transfer.
Physical TIFD : You need to submit personalized slips
for all your transfer instructions.
Request you to fill in Off-Market Trades details on a TIFD slip. Sample TIFD Slip for your reference. Send the TIFD
Slip at the below address :
ICICI Bank Ltd- Demat Services,
C/O 3 i Infotech Ltd,
3rd Floor, P.10, Road No. 7,
Akruti Trade Centre,
MIDC Marol, Bhimnagar,
Andheri East,
Mumbai 400093
8.2.c How to transfer bonus shares from PINS to NON PINS Account.
Resolution :
E- Instruction Facility : You need to register for the E-Instruction facility
by filling up the prescribed form. Please mention the Demat account linked
to NON PINS Trading account as target account.
You need to send the E- instruction form at the below address for registration:
ICICI Bank Demat Services
ICICI Infotech House
Vishweshwar Nagar Road,
Opp. Pravasi Industrial Estate,
Goregaon (E),
Mumbai – 400063.
Once you have availed the E-instruction facility you can transfer the shares through
Internet Banking, IVR or Speak to transfer facility.
a. Internet Banking : To submit transfer instruction on Internet
you have to log on to www.icicibank.com
with your Internet Banking User ID and password.
8.2.c How to transfer bonus shares from PINS to NON PINS Account.
Resolution :
All the demat accounts linked with the User ID will be displayed in 'My Accounts'
menu. Select E-Instruction from the Demat Menu and follow the simple instructions.
Demo on Internet .
b. IVR : You can call our
Customer Care Centre > Dial your Demat account number / Debit Card number.
System would prompt for ATMPIN in case of Debit Card number or TPIN in case of Demat
account number. Place a transfer request on IVR.
c. Speak to Transfer ( S2T ) : Through Speak to Transfer an officer
can place your request to transfer the shares from one demat account to another.
Call our
Customer Care numbers and access your demat account using your ATM card
/ DPID and Demat account number with ATM PIN or demat TPIN. Demo On IVR & S2T.
8.3.a What is the TDS rate for NRI's and its eligibility?
Resolution :
Tax applicable as per Income tax law, for current financial year , tax on short
term capital gain is 15.45% for equity transactions. There is different tax rate
slab for non equity transactions .TDS is applicable on all the transactions wherein
you have made a profit or capital gain. However there is no TDS deducted if you
have incurred a loss on a particular transaction.
The rate of TDS depends upon the period of holding. TDS is calculated at @15.45%
for Short Term Capital Gains, i.e. gains on holdings less than a year old for equity
transactions. Long Term Capital Gains (i.e. gains on holdings more than a year old)
are not taxed for equity transactions. Short term capital gains tax is applicable
for non equity transaction depending upon the nature of the securities. TDS is calculated
on sell transaction only.
Once sell order is placed through PINS account 15.45% of TDS is blocked on the entire
order value. The trading limit would be the value of sale transaction net of the
amount temporarily withhold on account of TDS.
Eg. If sale order is of Rs.1000 then 15.45% of 1000 is deducted ( 1000-15.45%= 845.5).
The available limit would be approx Rs.845.
At the end of day, actual TDS is calculated considering the cost of acquisition
and the period of holding. Any excess amount so withhold will be added back in the
limits before the start of next trading day.
8.3.c I have sold shares from NON PINS NRE Account However have not yet received
credit in my bank account.
Resolution :
Once sell order is placed through NON PINS account 15.45% TDS is deducted on the
entire trade value.
Documents
Cost of acquisition : Needs to provide document evidencing date
and cost of acquisition for short term trades. Tax will be deducted on the full
sale proceed instead of capital gain portion, and will be paid to government under
section 195 of Income Tax Act 1961 in absence of the sufficient document. Customer
will get the TDS certificates for that amount.
Repatriation Proof : For trades done through NRE account, customer
needs to provide the document which evidence that the shares sold where purchased
on repatriable basis ie through NRE funds. irrespective of long term & short
term.
Eg: Copy of Allotment Letter, copy of physical shares, Statement of previous custodian
certifying that the shares were held on repatriation basis.
Documentary proof need not be submitted if the shares were purchased through ICICIdirect.com
and held for more than one year.
8.3.c I have sold shares from NON PINS NRE Account However have not yet received
credit in my bank account.
If physical share certificates are de mated in NRE demat account of ICICI Bank Ltd,
then no repatriable proof is required, in any of the above cases, taxation proof
is mandatory.
Shares acquired under IPOs/FPOs/Right issue/ESOP.
Sale proceeds for the shares acquired by the NRI customers in primary market
via IPO/FPOs/Right issues and ESOP, and credited in repatriable demat account by
registrar with a instruction of companies, can be termed as repatriable funds and
sale proceeds for the same can be credited in customer NRE account.
For sell transaction done through NON PINS account, documents should reach PINS
Department latest by 1st of next calender month. The documents needs to be submitted
at:
8.3.d I have sold shares from NON PINS NRO Account However have not yet received
credit in my bank account.
Resolution :
Once sell order is placed through NON PINS account 15.45% TDS is deducted on the
entire sale proceeds.
Documents :
Cost of acquisition : Proof, which states the date of acquiring
the shares hence, proving long term acquisition of the script. The cost of acquisition
of the securities to permit deduction of TDS on an amount lesser than on the entire
sale proceeds. Customer needs to provide document evidencing date and cost of acquisition
for short term trades. Tax will be deducted on the full sale proceed instead of
capital gain portion, and will be paid to government under section 195 of Income
Tax Act 1961 in absence of the sufficient document. Customer will get the TDS certificates
for that amount.
For sell transaction done through NON PINS account, documents should reach PINS
Department latest by 1st of next calender month. The documents needs to be submitted
at:
8.3.e I What is the Consequences of not submitting proof:
Resolution :
Repatriation Proof : If Repatriation proof not submitted and hold
NRO account with ICICI Bank under the same Customer ID, then fund will be credited
on 15 th of next month, or else pay order will be issued and delivered to customer.
communication address without repatriation benefit.
Cost/date of acquisition : Tax will be deducted on the full sale
proceed instead of capital gain portion, and will be paid to government under section
195 of Income Tax Act 1961. Customer will get the TDS certificates for that amount.
Tax deducted is given / paid to the Government on or before by 7th of every month.
8.3.f What is the TDS rate calculated in Mutual Fund fro NRI's ?
Resolution :
Please note the TDS rate for NRI for MF is as under:
Tax deducted at source pertaining to NRI Investors
Short Term Capital Gain
Long Term Capital Gain
Equity
15.450%
Nil
Debt
30.900%
20.60%*
Note: These are the tax rates applicable to capital gains, in case the rate of tax
is lower than 20% and if the NRI does not have a Permanent Account Number, then
for the purpose of TDS, the withholding tax rate would be 20%.
NSE SEBI Registration Number :- INB 230773037
| BSE SEBI Registration Number :- INB 011286854
NSE SEBI Registration Number Derivatives :- INF 230773037
| NSE SEBI Registration Number Currency Derivatives :- INE 230773037
