Portugal Golden visa and trade intraday FnO on NSE

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1

Hi,
So my story is, I wanna stay in Europe, and wanna trade intraday FnO in NSE.

NRI cannot do it, so I would never be NRI i.e. I will be coming back to India every 4 months, so would never be NRI.

To stay in Portugal, I will apply for Golden visa i.e. just under 3Cr INR.

this is my plan, is it feasible, my queries:

  1. where can I ask these queries,ike CA, lawyer, or some visa application firm??
  2. to apply Golden visa I have to transfer 3Cr to Portugal will any LRS limit apply here ?
  3. taxation will be in India, because earning in India, but can I keep transfer the earning to Portugal after paying my ITR in India.

Thanks

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NRI individuals have the option to trade in the FNO segment through the NRO NON-PIS route. However, participation in Futures and Options (F&O) trading requires the appointment of a custodian and the acquisition of a Custodian Participant (CP) code. Zerodha has collaborated with Orbis to offer custodial services, but clients holding CP codes are currently restricted from trading in the BSE Futures and Options (BFO) segment. For assistance in obtaining a CP code, kindly create a support ticket.

Additionally, it is your responsibility to declare NRI status once certain criteria are met:

  1. An Indian citizen residing abroad for 183 days or more in one financial year.

  2. An Indian citizen staying in India for less than 365 days in the last four years from the current assessment year, and less than 60 days during the year.

Also, According to FEMA guidelines, an NRI cannot maintain a Resident savings account. Once NRI status is confirmed, inform the bank to convert the savings account into an NRE/NRO account. Failure to do so may result in penalties.

For queries related to Golden visa applications, speaking with a CA or Visa Consultants is advisable.

Regarding the transfer of 3Cr to Portugal for a Golden visa, consult with a CA, or Bank, or directly contact RBI for precise information on LRS limits.

For taxation, if you earn in India, the taxation will be in India. Whether you can transfer earnings to Portugal post-paying your Income Tax Return (ITR) in India depends on various factors. Seek advice from a tax advisor or CA who can provide personalized guidance considering tax laws, the Double Taxation Avoidance Agreement (DTAA), and your specific circumstances.

I hope this helps.

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