Can I trade in my relatives account after becoming NRI (from foreign countries)?

To the @moderators - This is not support related questions. This is a general question! Do not Un list this.

Let us assume that I’m a NRI in some foreign country.
I have NRI trading account and I’m trading in it.
At the same time can I trade in a normal account (of my relative who is Indian) from foreign country ?
Can I trade in that account for them (Indian account) from foreign country ? (and i’m NRI )

@siva @Bhuvan @ShubhS9 @nithin
Let me know the answer. Thanks

Can you not tag Nithin for everything? just post your question.

@AkshayAtur Can you.

Ok. I apologize if that caused some inconvenience. Is it ok if I tag you on my posts ? (for getting answers for meaningful questions)

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You can jus post it, in you are not getting any reply, after couple of days you can tag anyone of us.

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Ok. That’s a good idea.

This is possible if they allow access to the account.

This would depend on the family and if they’re okay with someone else handling the account on their behalf.
A trade taken by one family member and goes bad, the other member can very easily come and say was unauthorized.

Suggest that if you’re an NRI and hold an NRI account, it’s best to trade only through that account. However, if you’d still want to trade in one of the family accounts then I suggest you please go through the Zerodha password policy

Snapshot from the same for your kind perusal:

Thanks.
Assuming that relative has no problem with that.
Will I be allowed to trade from a foreign country ? Like will my IP get blocked because I’m accessing an Indian account (as a NRI).
I think something like this will not happen…?

Hello,
Can I add other person (who’s Aadhaar or Pan card detail not put at the time of account opening ) bank account as primary account which don’t have an UPI ID or Net banking ID and withdrawal fund in that account ?

No, the bank account that you are linking to your trading account should be in your name.

Can I deposited fund in trading account from other person bank account ?

You can only add funds form the bank accounts that are linked to your trading account.

But if the bank account which I link is some other persons then can I add funds through that account ?

Rahul, as mentioned earlier, you can only link a bank account that is in your name. You cannot link a third party bank account to your trading account.

But in that account I don’t have UPI id or Net banking facility available !!

Well, then create one!

anyone o

Anyone on this ?

To put things into a nutshell.

Yes you can trade from your own NRI account and you can trade from your relative account from anywhere in the world. There will not be any restrictions.
It is assumed that your relative would have given you permission to do the trade.

It is assumed that your relative account is active and there are no kyc issues. This is just like online banking.

Do understand the impliations. For record purposes, the shares which you will by buying will remain in your relatives names and if you sell shares the sale proceeds will go to his bank account.

For somereason, your relative goes to the broker and puts a stop on his account without you knowing then everything will be suspended.

As far as operations is concerned - there is no restrictions.

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Thank you everyone! :slight_smile:

@TradeXMaster

I am just curious as to how profits will be shared, how you will pay taxes etc.?

Actually, NRI accounts have a higher brokerage, so what if I trade in a Indian account and then transfer it(if I profit from my trades) from India(normal brokerage) to some other country (bank account).
@ShubhS9 With the statement that I gave above, Is it legally allowed to so so ?