{"id":15576,"date":"2026-01-19T12:41:12","date_gmt":"2026-01-19T12:41:12","guid":{"rendered":"https:\/\/navia.co.in\/blog\/?p=15576"},"modified":"2026-01-28T12:19:18","modified_gmt":"2026-01-28T12:19:18","slug":"difference-between-pis-and-non-pis-account","status":"publish","type":"post","link":"https:\/\/navia.co.in\/blog\/difference-between-pis-and-non-pis-account\/","title":{"rendered":"Understanding NRI Investments: What is the Difference Between a PIS and a NON-PIS Account?"},"content":{"rendered":"<ul><li><a class=\"aioseo-toc-item\" href=\"#0-what-is-a-pis-account%C2%A0\">What is a PIS Account?<\/a><ul><\/ul><\/li><li><a class=\"aioseo-toc-item\" href=\"#2-what-is-a-non-pis-account%C2%A0\">What is a NON-PIS Account?<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#3-pis-vs-non-pis-a-direct-comparison%C2%A0\">PIS vs. NON-PIS: A Direct Comparison<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#4-deep-dive-the-nri-pis-account-repatriable%C2%A0\">Deep Dive: The NRI PIS Account (Repatriable)<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#5-deep-dive-the-nro-non-pis-account-non-repatriable%C2%A0\">Deep Dive: The NRO NON-PIS Account (Non-Repatriable)<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#6-which-one-should-you-choose%C2%A0\">Which One Should You Choose?<\/a><ul><\/ul><\/li><li><a class=\"aioseo-toc-item\" href=\"#9-common-mistakes-to-avoid%C2%A0%C2%A0\">Common Mistakes to Avoid<\/a><ul><\/ul><\/li><li><a class=\"aioseo-toc-item\" href=\"#10-conclusion%C2%A0\">Conclusion<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#11-frequently-asked-questions%C2%A0\">Frequently Asked Questions<\/a><\/li><\/ul>\n\n\n<p>For Non-Resident Indians (NRIs) looking to tap into the growth potential of the Indian stock market, the technical jargon, especially regarding a <a href=\"https:\/\/navia.co.in\/demat-account-for-nri\" title=\"\">demat account for NRI<\/a> can often be more intimidating than the market volatility itself. One of the most common\u00a0confusions\u00a0of investors is the\u00a0distinction\u00a0between two\u00a0primary\u00a0investment\u00a0routes: the\u00a0<strong>PIS account\u00a0<\/strong>and the\u00a0<strong>non-PIS account.<\/strong>\u00a0<\/p>\n\n\n\n<p>The Indian economy continues to soar in 2026, understanding these&nbsp;structures is vital for seamless investing. This guide will explain the nuances of the&nbsp;<strong>NRI PIS account<\/strong>, how it differs from the&nbsp;<strong>NRO non-PIS&nbsp;account,&nbsp;<\/strong>and which one fits your financial goals.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-3d265f812bbce36425e42c1205e67379\" id=\"0-what-is-a-pis-account%C2%A0\" style=\"color:#023368\">What is a PIS Account?&nbsp;<\/h2>\n\n\n\n<p>PIS stands for&nbsp;<strong>portfolio investment&nbsp;scheme;<\/strong>&nbsp;this scheme of the Reserve Bank of India (RBI) enables NRIs to&nbsp;purchase&nbsp;and sell shares and convertible&nbsp;debentures of Indian companies on a recognized stock exchange.&nbsp;&nbsp;<\/p>\n\n\n\n<p>A&nbsp;<strong>PIS account for NRI&nbsp;investors<\/strong>&nbsp;acts as a reporting mechanism. Since the RBI&nbsp;monitors&nbsp;the ceiling on NRI investments in Indian companies (to ensure foreign ownership&nbsp;doesn&#8217;t&nbsp;exceed certain limits), the PIS account ensures that every transaction made on a &#8220;Repatriable&#8221; basis is reported to the central bank.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-0bb95a76310aa55dd3d8dcfeb67acd15\" id=\"1-key-features-of-a-pis-account%C2%A0\" style=\"color:#ec4d37\">Key Features of a PIS Account:&nbsp;<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Repatriability&nbsp;<\/td><td>It is linked to an NRE (Non-Resident External) bank account. This means the money you invest, and the profits you make, can be fully converted back into foreign currency and moved abroad.&nbsp;<\/td><\/tr><tr><td>RBI Monitoring&nbsp;<\/td><td>Every buy and sell order is reported by the bank to the RBI.&nbsp;<\/td><\/tr><tr><td>NRE\/NRO PIS Account&nbsp;<\/td><td>While typically associated with NRE accounts, an NRO PIS account can also exist, though it is less common today as the rules for NRO transactions have been simplified.&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-cf0376c50fe97505e7c37ca13e9655aa\" id=\"2-what-is-a-non-pis-account%C2%A0\" style=\"color:#023368\">What is a NON-PIS Account?&nbsp;<\/h2>\n\n\n\n<p>A&nbsp;<strong>NON-PIS account<\/strong>&nbsp;is an investment route that does not fall under the RBI\u2019s Portfolio Investment Scheme reporting requirements. This route is typically used when an NRI invests using their &#8220;Non-Repatriable&#8221; funds held in an <a href=\"https:\/\/navia.co.in\/blog\/nre-vs-nro-accounts\/\" title=\"\">NRO (Non-Resident Ordinary)<\/a> account.&nbsp;<\/p>\n\n\n\n<p>In 2026, the&nbsp;<strong>NRO&nbsp;non-PIS&nbsp;account<\/strong>&nbsp;has become the preferred choice for many NRIs due to its simplicity. Because the funds in an NRO account are already subject to certain remittance limits (up to $1 million per&nbsp;financial year), the RBI does not&nbsp;require&nbsp;the same level of granular transaction reporting as it does for NRE funds.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-a15e74cf901179c52edb4c9958cb1233\" id=\"3-pis-vs-non-pis-a-direct-comparison%C2%A0\" style=\"color:#023368\">PIS vs. NON-PIS: A Direct Comparison&nbsp;<\/h2>\n\n\n\n<p>To choose the right path, you must understand the operational&nbsp;<strong>differences between a&nbsp;nri&nbsp;pis&nbsp;account and&nbsp;non-PIS<\/strong>&nbsp;counterpart.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Feature<\/th><th>PIS Account (NRE)<\/th><th>NON-PIS Account (NRO)<\/th><\/tr><\/thead><tbody><tr><td>Repatriability&nbsp;<\/td><td>Fully Repatriable (Principal &amp; Profit)&nbsp;<\/td><td>Principal is repatriable; Profit is repatriable after taxes&nbsp;<\/td><\/tr><tr><td>RBI Reporting&nbsp;<\/td><td>Mandatory for every trade&nbsp;<\/td><td>Not required&nbsp;<\/td><\/tr><tr><td>Investment Options&nbsp;<\/td><td>Equity Delivery only&nbsp;<\/td><td>Equity, F&amp;O, and Intraday (conditions apply)&nbsp;<\/td><\/tr><tr><td>Cost&nbsp;<\/td><td>Higher (Bank charges PIS reporting fees)&nbsp;<\/td><td>Lower (No PIS reporting fees)&nbsp;<\/td><\/tr><tr><td>Processing Time&nbsp;<\/td><td>Slower (due to bank reporting)&nbsp;<\/td><td>Faster (like a resident account)&nbsp;<\/td><\/tr><tr><td>Bank Account Linked&nbsp;<\/td><td>NRE Bank Account&nbsp;<\/td><td>NRO Bank Account&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<a href=\"https:\/\/open.navia.co.in\/index-navia.php?utm_source=organic&#038;utm_medium=blog\" target=\"_blank\" style=\"display:flex; width:100%;\" ><img decoding=\"async\" src=\"https:\/\/d1l8l3rp33cdzs.cloudfront.net\/images\/naviacee\/Open-free-demat-account%20%28blog%29%20%281%29.gif\" width=\"80%\" \nheight=\"auto\"  style=\"border-radius:10px; margin:5px auto;\"\/><\/a>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-8a4f64979d61b5cd496e881baec967ae\" id=\"4-deep-dive-the-nri-pis-account-repatriable%C2%A0\" style=\"color:#023368\">Deep Dive: The NRI PIS Account (Repatriable)&nbsp;<\/h2>\n\n\n\n<p>The<strong>&nbsp;nri&nbsp;pis&nbsp;account<\/strong>&nbsp;is essential if you want the absolute freedom to move your entire <a href=\"https:\/\/navia.co.in\/blog\/category\/investments\/\" title=\"\">investment<\/a> proceeds back to your country of residence&nbsp;without any hassle.&nbsp;<\/p>\n\n\n\n<p>However, it comes with administrative overhead. When you trade via a&nbsp;<strong>PIS account<\/strong>, your&nbsp;broker&nbsp;and your bank work in tandem. Every time you sell a stock, the bank calculates the capital gains tax, withholds the TDS (Tax Deducted at Source), and then credits the remaining amount to your NRE account. Because of this bank-level involvement, the brokerage and bank charges for a<strong>&nbsp;PIS account for NRI&nbsp;<\/strong>are&nbsp;generally higher&nbsp;than resident or non-PIS accounts.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-9d1f0a654a758509fd57ec5f0ee77d9a\" id=\"5-deep-dive-the-nro-non-pis-account-non-repatriable%C2%A0\" style=\"color:#023368\">Deep Dive: The NRO NON-PIS Account (Non-Repatriable)&nbsp;<\/h2>\n\n\n\n<p>The&nbsp;<strong>nro&nbsp;non&nbsp;pis&nbsp;account<\/strong>&nbsp;is designed for NRIs who have income originating in India (like rent, dividends, or pension) or those who are comfortable keeping their investment proceeds within India for a longer duration.&nbsp;<\/p>\n\n\n\n<p>The biggest advantage of the&nbsp;<strong>non&nbsp;pis&nbsp;account&nbsp;<\/strong>is the ease of trading. It functions very similarly to a resident Indian&#8217;s account. You can trade in <a href=\"https:\/\/navia.co.in\/equity\" title=\"\">Equity<\/a> and even in the Futures and Options (F&amp;O) segment.&nbsp;Since there is no RBI reporting involved, the transaction costs are lower, and the settlement process is much faster.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-2268edea81031d5ba54777a72920bada\" id=\"6-which-one-should-you-choose%C2%A0\" style=\"color:#023368\">Which One Should You Choose?&nbsp;<\/h2>\n\n\n\n<p>Deciding between a&nbsp;<strong>pis&nbsp;account and a non&nbsp;pis&nbsp;account<\/strong>&nbsp;depends on your source of funds and your &#8220;exit&#8221; strategy.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-0dc4944d54dceaedc0a708b7bf7b178c\" id=\"7-choose-a-pis-account-if%C2%A0\" style=\"color:#ec4d37\">Choose a PIS Account if:&nbsp;<\/h3>\n\n\n\n<p>\ud83d\udd39Your investment capital is in a foreign currency.&nbsp;<\/p>\n\n\n\n<p>\ud83d\udd39You want to be able to move your entire investment and profit back to your foreign bank account at any time.&nbsp;<\/p>\n\n\n\n<p>\ud83d\udd39You only plan&nbsp;on doing&nbsp;&#8220;Delivery&#8221; based equity trading.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-1cf41f0d6d44cc0d4ccc8e6db1446564\" id=\"8-choose-a-non-pis-account-if%C2%A0\" style=\"color:#ec4d37\">Choose a NON-PIS Account if:&nbsp;<\/h3>\n\n\n\n<p>\ud83d\udd39You have Indian income (NRO funds) to invest.&nbsp;<\/p>\n\n\n\n<p>\ud83d\udd39You want lower transaction costs and less paperwork.&nbsp;<\/p>\n\n\n\n<p>\ud83d\udd39You are interested in trading Derivatives (F&amp;O).&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-971517aec0f681cefe6b3a8cddaf43cf\" id=\"9-common-mistakes-to-avoid%C2%A0%C2%A0\" style=\"color:#023368\">Common Mistakes to Avoid&nbsp;&nbsp;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-15ef74471e2d408ce5913ac1c0e5a227\" id=\"aioseo-\ufe0f-continuing-to-use-resident-accounts-32\" style=\"color:#ec4d37\">Continuing to Use Resident Accounts&nbsp;<\/h3>\n\n\n\n<p>The most frequent and dangerous mistake is using your old resident savings account to trade. Once you become an NRI (typically after&nbsp;183 days&nbsp;abroad),&nbsp;operating&nbsp;a resident account is a FEMA violation.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-e634513f71dd4ad17978db3df41f4f50\" id=\"aioseo-having-multiple-pis-accounts-34\" style=\"color:#ec4d37\">Having Multiple PIS Accounts&nbsp;<\/h3>\n\n\n\n<p>Some investors try to open PIS accounts with different banks to bypass investment ceilings. RBI rules mandate that an NRI can have only one designated PIS bank at any time.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-bfecd2c25b03f41495968c79720cfd86\" id=\"aioseo-mixing-repatriable-and-non-repatriable-funds-36\" style=\"color:#ec4d37\">Mixing Repatriable and Non-Repatriable Funds&nbsp;<\/h3>\n\n\n\n<p>Investors often confuse where their\u00a0sale\u00a0proceeds go. So, keep two separate <a href=\"https:\/\/navia.co.in\/app.html\" title=\"\">Demat accounts<\/a> &#8211; one linked to NRE-PIS for repatriable funds and one linked to NRO Non-PIS for local income.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-50de8c92928f270a6df7e526c9ee28ae\" id=\"aioseo-overlooking-tds-on-capital-gains-38\" style=\"color:#ec4d37\">Overlooking TDS on Capital Gains<\/h3>\n\n\n\n<p>Unlike resident Indians, NRIs are subject to Tax Deducted at Source (TDS) on every profitable trade. Expecting to receive the full sale amount. Banks (for PIS) or Brokers (for Non-PIS) will deduct tax (e.g., 20% for STCG or 12.5% for LTCG above \u20b91.25L) before crediting your account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-eed6eb16883d701419ad028690484600\" id=\"aioseo-not-claiming-dtaa-benefits-40\" style=\"color:#ec4d37\">Not Claiming DTAA Benefits&nbsp;<\/h3>\n\n\n\n<p>NRIs often pay the maximum tax rate because they ignore international treaties. Paying the full 30% tax on NRO interest when a Double Taxation Avoidance Agreement (DTAA) could lower it to 10\u201315%. Better&nbsp;submit&nbsp;a Tax Residency Certificate (TRC) from your country of residence to your bank annually to avail lower tax rates.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-7cf18314d415c490975e5f4c32b7514d\" id=\"10-conclusion%C2%A0\" style=\"color:#023368\">Conclusion&nbsp;<\/h2>\n\n\n\n<p>Whether you opt for the robust reporting of the&nbsp;<strong>pis&nbsp;account<\/strong>&nbsp;or the streamlined efficiency of the&nbsp;<strong>non&nbsp;pis&nbsp;account<\/strong>, the most&nbsp;important step&nbsp;is to begin your investment journey. The Indian market offers unparalleled growth opportunities for the diaspora, and understanding the difference between&nbsp;a&nbsp;<strong>nro&nbsp;pis&nbsp;account<\/strong>&nbsp;and&nbsp;a&nbsp;<strong>nro&nbsp;non&nbsp;pis&nbsp;account<\/strong>&nbsp;ensures you are compliant with RBI regulations while maximizing your returns.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Do You Find This Interesting?<\/strong><\/p>\n\n\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-ad2f72ca wp-block-group-is-layout-flex\">\n<p>We\u2019d Love to Hear from you-<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/form.typeform.com\/to\/bpQ8ZlDc\"><img decoding=\"async\" width=\"300\" height=\"64\" src=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/02\/Yes-No-Button-1.png\" alt=\"pis\" class=\"wp-image-8901\" srcset=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/02\/Yes-No-Button-1.png 300w, https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/02\/Yes-No-Button-1-150x32.png 150w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-5db19a6f93502c471dfebef6fadfcbdc\" id=\"11-frequently-asked-questions%C2%A0\" style=\"color:#023368\">Frequently Asked Questions&nbsp;<\/h2>\n\n\n<div class=\"wp-block-ub-content-toggle wp-block-ub-content-toggle-block\" id=\"ub-content-toggle-block-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" data-mobilecollapse=\"true\" data-desktopcollapse=\"true\" data-preventcollapse=\"false\" data-showonlyone=\"false\">\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #f1f1f1; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #f1f1f1;\" aria-controls=\"ub-content-toggle-panel-0-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" style=\"color: #000000; \"><strong>What is a PIS bank account?<\/strong>\u00a0<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\">\n\n<p>A Portfolio Investment Scheme (PIS) account is a specialized bank account for <a href=\"https:\/\/navia.co.in\/demat-account-for-nri\" title=\"\">Non-Resident Indians<\/a> (NRIs) and Overseas Citizens of India (OCIs). It acts as a bridge between your bank account and the Indian stock market.\u00a0<\/p>\n\n\n\n<p><strong>\u2794 Purpose: <\/strong>It allows the <a href=\"https:\/\/www.rbi.org.in\/\" title=\"\">Reserve Bank of India (RBI)<\/a> to track and\u00a0monitor\u00a0every transaction (buy and sell) an NRI makes in the secondary market.\u00a0<\/p>\n\n\n\n<p><strong>\u2794 Mechanism:<\/strong> Every time you trade, your bank reports the transaction to the RBI to ensure that total foreign investment in a specific Indian company stays within the legally permitted ceilings.\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #f1f1f1; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #f1f1f1;\" aria-controls=\"ub-content-toggle-panel-1-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" style=\"color: #000000; \"><strong>Is a PIS account mandatory for NRE?<\/strong>\u00a0<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-1-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\">\n\n<p>Yes, for direct equity trading. If you want to invest in Indian stocks on a repatriable basis (meaning you can send your principal and profits back to your foreign bank account), you must use the NRE PIS route.\u00a0<\/p>\n\n\n\n<p><strong>The Exception: <\/strong>PIS is not mandatory for <a href=\"https:\/\/navia.co.in\/mutual-funds\" title=\"\">Mutual Funds<\/a>, <a href=\"https:\/\/navia.co.in\/ipo-account\" title=\"\">IPOs<\/a>, or investments made through an NRO Non-PIS account (non-repatriable).\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #f1f1f1; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #f1f1f1;\" aria-controls=\"ub-content-toggle-panel-2-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" style=\"color: #000000; \"><strong>Who is eligible for a PIS account?<\/strong>\u00a0<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-2-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\">\n\n<p>To open a PIS account in 2026, you must meet the following criteria:\u00a0<\/p>\n\n\n\n<p><strong>\u2714 NRI Status:\u00a0<\/strong>You must be a &#8220;Person Resident Outside India&#8221; as defined by FEMA (typically staying outside India for more than\u00a0182 days\u00a0in\u00a0a financial year).\u00a0<\/p>\n\n\n\n<p><strong>\u2714 Nationality\/Origin:\u00a0<\/strong>You must be an Indian citizen holding a valid Indian passport OR a Person of Indian Origin (PIO\/OCI) holding a foreign passport.\u00a0<\/p>\n\n\n\n<p><strong>\u2714 Exclusions:\u00a0<\/strong>Residents of Pakistan and Bangladesh\u00a0generally require\u00a0prior specific approval from the RBI, and residents of Nepal or Bhutan may face different restrictions.\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #f1f1f1; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #f1f1f1;\" aria-controls=\"ub-content-toggle-panel-3-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" style=\"color: #000000; \"><strong>Which is better, PIS or non-PIS?<\/strong>\u00a0<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-3-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\">\n\n<p>&#8220;Better&#8221; depends entirely on your goal for\u00a0money. Most NRIs in 2026 prefer\u00a0non-PIS\u00a0for <a href=\"https:\/\/navia.co.in\/blog\/category\/trading\/\" title=\"\">trading<\/a> unless they specifically need to move large sums of money abroad\u00a0frequently.\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #f1f1f1; \" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #f1f1f1;\" aria-controls=\"ub-content-toggle-panel-4-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\" style=\"color: #000000; \"><strong>Can NRI have two PIS accounts?<\/strong>\u00a0<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #000000;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-4-5ea1da95-5152-4c45-ac3e-5cd9028c5ab3\">\n\n<p>NRIs are\u00a0permitted\u00a0to\u00a0maintain\u00a0only one Portfolio Investment Scheme (PIS) account across all designated banks in India. This account must be opened using the prescribed PIS format, after which the bank provides the necessary PIS approval letter\u00a0required\u00a0for trading.\u00a0<\/p>\n\n<\/div>\n\t\t<\/div>\n<\/div>\n\n\n<p><strong>DISCLAIMER:<\/strong>&nbsp;<strong>Investment in securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Full disclaimer:&nbsp;<a href=\"https:\/\/bit.ly\/naviadisclaimer\">https:\/\/bit.ly\/naviadisclaimer<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For Non-Resident Indians (NRIs) looking to tap into the growth potential of the Indian stock market, the technical jargon, especially regarding a demat account for NRI can often be more intimidating than the market volatility itself. One of the most common\u00a0confusions\u00a0of investors is the\u00a0distinction\u00a0between two\u00a0primary\u00a0investment\u00a0routes: the\u00a0PIS account\u00a0and the\u00a0non-PIS account.\u00a0 The Indian economy continues to soar [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[251],"tags":[11,7,21,22,53,262,916,32],"class_list":["post-15576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nri","tag-financial-goals","tag-indian-stock-markets","tag-investments","tag-investor","tag-marketperformance","tag-nri","tag-pis-and-a-non-pis-account","tag-wealth-creation"],"featured_image_src":"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2026\/01\/PIS-and-a-NON-PIS-Account.jpg","author_info":{"display_name":"Navia Markets","author_link":"https:\/\/navia.co.in\/blog\/author\/tradeplusonline\/"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/15576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/comments?post=15576"}],"version-history":[{"count":5,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/15576\/revisions"}],"predecessor-version":[{"id":15711,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/15576\/revisions\/15711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/media\/15581"}],"wp:attachment":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/media?parent=15576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/categories?post=15576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/tags?post=15576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}