As per SEBI regulations, the Portfolio Manager is allowed to manage portfolios with a minimum size of Rs 25 lacs as on the date of start of the portfolio.

A Non-resident Indian can invest directly in Indian equities.

o   All NRIs need a PAN Card before they can invest in India.

o   An NRI investor can either invest through the NRE (only foreign source of funds, fully repatriable at any point in time) or through the NRO account (can invest both foreign and domestic source of funds, and is repatriable to the extent of $ 1 million in any year). NRIs can also have both – NRO as well as NRE portfolio accounts.

o   Needs special permission from RBI under the PIS scheme. An NRI can have only one PIS number (one each under NRE or NRO account) in India. We will facilitate the same while opening the account.

o   The PIS number tracks all transactions in India by the NRI and ensures taxes, as and when applicable, are deducted at source: RBI FAQs.

For all our clients, we open the bank and demat account with HDFC Bank. HDFC Bank is one of the largest and most respected banks in India.

o   The accounts opened are managed by a Custodian, and therefore have certain unique features. The special features include a higher level of security, the ability to do settlements through the institutional system, etc.

o   Your existing retail bank or demat account cannot be used for Porftolio Management system, as it will not have the special functionalities associated with it. Click on the following to know more about HDFC Bank’s various facilities:

o   ………………………… Custody Services

o   ……………………… Bank

  1. Once you confirm that you are interested in entrusting us with your long term equity investments, you will need to provide us with scanned copies of the PAN and Address proof (Passport/Aadhaar/Voter ID) of the proposed account holder(s) and nominee, if any.
  2. We will then set up an appointment for your signatures and submit these documents to the bank and the broker to set up the account.
  3. One of our client servicing executives will facilitate the entire process. It will take 7-10 days to set up the account after completing the documentation and signatures.

Your bank and demat account can be opened just as you would open it normally as a single holder or joint holders with a nominee. Whereas in a bank account, there is a provision to have only one nominee, in demat, one can have more than one nominee specifying the share of each nominee.

  1. Once the account is opened, we will send the bank account and demat account details to you.
  2. You can either send us a cheque or transfer funds to the bank account (which will be opened in your name). As per regulations, the funds can come only from a bank account that is in the name of the investor.
  3. Securities can be transferred to the demat account. The securities have to necessarily come from a demat account which is in the name of the investor. Along with security transfer, you also need to provide us with the date of acquisition and the cost of acquisition of these securities.
  4. This will ensure all future reports are prepared correctly. This is also a requirement as per law.
  •  You can transfer funds, either through a cheque or a wire transfer, directly into your Portfolio bank account either on an ad-hoc basis or as a SIP.
  • Do inform us as and when you do transfer any funds into the bank account.

Initial Communication sent after the account is opened/setup:

  • Bank and Demat accounts opening confirmation
  • Trading Account opening confirmation

Regular communication:

  •  Any Fund/Securities transferred by client to the PMS account (inflow/outflow)
  • Monthly report – Portfolio statement on monthly basis by 3rd working day of each month
  • Advance tax – Capital gain, Interest, Dividend data for advance tax purpose is provided on a quarterly basis by 12th of each quarter
  • Tax filing report – Audited report with relevant data for tax filing provided by May each year. Includes details like capital gains, interest, dividends, TDS, securities at cost, bank statement, broker ledger, etc.
  • Annual billing/fee report – Audited fee calculation report is provided annually on the anniversary month of your account opening month (i.e. if an account is opened in Jan 2019, your billing period will be Jan 2020 and fee report is sent in Feb 2020)

Event-based, ad-hoc communication from Banyan Tree:

  • Relating to shares Buyback, IPO, etc.
  • Re – KYC (if required by Bank/broker)
  • Any other regulatory/account related detail/update

HDFC Bank will provide the following facilities:

  • Net banking login – Login Id & Password sent by ……………………. Bank to client’s registered address for viewing your saving and demat accounts
  • Bank & demat statement – ……………………. Bank will email bank & demat statement on Monthly and quarterly basis respectively

A broker will provide the following:

  • SMS – SMS sent on the day of the transaction on the registered mobile number
  • Contract note – sent on the day of the transaction

A default mode of all communication is via email

  1. Client needs to send email to us from their registered email id.
  2. We will process the redemption and send the funds to your personal account registered with us for redemption.
  3. Partial redemption can be done up to an amount such that after redemption, the balance value of the portfolio should be minimum INR 25 Lakhs
  1. Email request received from the client
  2. Appointment scheduled for signatures on account closing forms
  3. Banyan tree transfers funds and/or securities to client’s personal account
  4. Final closure report with relevant details/fee calculation sent to the client by email
  5. Account closing forms submitted to bank and broker
  6. Account closing confirmation sent to the client
  • This entire process can take up to 30 days assuming all documents are in order.
  • There is no lock-in period or exit load. Any fees payable on a pro-rata basis will be charged at the time of final settlement/closure.