In brief
PIS is not a label for every NRI investment. RBI’s framework distinguishes repatriable exchange purchases of equity instruments using an NRE(PIS) route from non-repatriation investment under a separate schedule. Mutual funds have their own permitted funding routes. Confirm the exact instrument and current rules with the bank and broker.
Start with Reserve Bank of India: Foreign investment: payment and reporting regulations (opens in a new tab)
Find the route to discuss with your bank
This selector gives a preparation route. It does not authorise an investment or determine tax.
Investment route starting points
| Investment | Route to confirm |
|---|---|
| Repatriable listed equity instruments | Designated NRE(PIS), permitted bank/broker reporting and proceeds route. |
| Non-repatriation investment | Applicable separate route; NRO sale proceeds and remittance restrictions. |
| Domestic mutual funds | AMC acceptance plus permitted bank funding/proceeds; not a universal PIS requirement. |
| Other instruments | Product-specific eligibility, limits and provider permissions. |
Your next steps
0 of 5 steps complete · Next: Name the actual investment
Name the actual investment
Next stepDistinguish listed shares, mutual funds, IPOs, REIT units and other instruments. Do not copy an account route across products without checking.
Choose the required repatriation basis
Ask the authorised dealer to explain permitted funding and sale-proceeds destinations for that instrument. NRO proceeds are not automatically freely repatriable.
Align bank, trading and demat records
Obtain the bank/broker’s written account map, KYC/FATCA checklist, reporting responsibilities and restrictions. Update existing resident accounts separately.
Compare total operating costs
Request brokerage, PIS reporting, bank transaction, custody, conversion and remittance charges. Ask what the provider does after each sale and who handles tax records.
Retain the funding trail
Keep contract notes, original credits, bank route confirmations and tax documents. Recheck the setup on a move or citizenship change.
Suggested preparation sequence. Your authority may require a different order. Progress stays on this device.
What to have ready
0 of 4 preparedKeep documents in your own secure records. Tick what you have; nothing is uploaded.
Questions to take to an adviser
- Which route applies to this specific instrument?
- Where must sale proceeds go and what can later be remitted?
- Who reports trades and provides tax documents?
Who can help
Your authorised dealer bank and SEBI-registered broker.
Check an adviser before paying or signingSources & review limits
Published by NRIdisha. Prepared with AI assistance. No individual author or qualified professional reviewer is credited for this guide.
Practical guide published 24 October 2026. Official statements are limited to the scope described on each source card. Steps and document preparation are editorial guidance. Provider-specific requirements and personal eligibility must be confirmed with the relevant authority.
Official sources support the statements they address. They do not certify this guide or your eligibility. Open the source and check current amendments before acting.
Income Tax Department (opens in a new tab) · Reserve Bank of India (opens in a new tab) · National Portal of India (opens in a new tab)
Schedules III and IV distinguish repatriation and non-repatriation funding and proceeds. Instrument and amendment checks remain necessary.
NRE, NRO and foreign-currency accounts; changes when residency changes.
Keep this page’s title, the exact statement and the official source. Email them to support@nridisha.com. Do not include personal documents.