Do I have to sell all my shares in my NRE account if my status changes from NRI to resident Indian?
You are not required to sell your holdings when your status changes from non-resident to resident or from resident to non-resident.
You just need to change the status of your Demat Account.
The Following modification is permitted in your existing Demat account :
|
Sr. No. |
Change in Residential Status |
Change permitted in Demat Account |
|
1 |
Resident Indian to Non-Resident Indian |
Existing resident Demat account can be converted to Non-Resident Demat Account Sub Type Non-Repatriable (NRO) |
|
2 |
Non-Resident to Resident Indian |
Exiting NRO Demat Account to Resident Demat Account |
|
3 |
Non-Resident to Resident Indian |
Existing NRE (Repatriable) Demat Account to Resident Demat Account |