How can NRI invest in the Indian stock market without PIS?

An NRI can invest in the Indian stock market without PIS (Portfolio Investment Scheme) subject to certain restrictions. However, an NRI is only allowed to invest in following shares through a non-PIS account:

• Shares acquired through a non- PIS.
• Shares bought through IPO's.
• Shares gifted from relatives.
• Shares bought as resident Indian.

The investments without a PIS account will be considered as domestic investments and will be treated at par with the investments made by resident Indians. To invest without PIS, you need to use a non-PIS bank account.