Why is Zerodha taking so long to offer US investing?

[siva-reddy]

@imnishantg

While this is still new and more details might come in later, do you think this is a potential option? or are you closer to resolving the issue some other way?

We will check this option, still not fixed on anything, so what ever solution seems feasible we can come out with that.

[haritvsmurali]

Now IND Money & Vested provides some new seamless , 0 fee account opening, 0 fee for deposits remittance, 0 account maintenance, 0 fee for trading as well.

Just checking if there’s any update on Zerodha’s progress in providing users with Global/US stock investing option in Kite.

@nithin @siva-reddy @ShubhS9

[Anirudh24]

Hey Siva. Just checked out vested and they’re creating an intermediate account in State Bank of Mauritius (Registered in India). I am waiting for Zerodha to launch Us investing before I decide on my primary app. Are there any plans to launch it this year?

[Augustine_Charly]

Are we waiting for NSE IFSC?

[TradeXMaster]

Probably yes

[Vishal_Nebhani]

Hey Siva, any update/commitments on this front? Is zerodha any closer to launch, or has it dropped down in the pecking order?

[Peter_Wang]

Because India has strict regulations and restrictions on cross-border remittances.

[KarthikAcharya]

@nithin

After the introduction of TCS of 20% on foreign remittance for investing in stocks, we have stopped pursuing this opportunity completely. I don’t think retail investors will be okay sending say $100 and have only $80 to invest in the markets and have to wait for over a year to get the TCS refund of the $20 after filing income tax returns. We don’t see this as a viable business opportunity anymore.

TCS on remittances under LRS increased to 20% - Vested Finance

@Vishal_Nebhani Hope this response helps !!