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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Nandu who wrote (3175)	11/5/1998 10:13:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

India-Online investing made easy. [Online Stock Brokers in India] Hi Anil, I am sorry it took me a while to get you guys this information. No I haven't had the time to get open an account yet but I did talk to a few customers of these companies listed below and they did not encounter any problems with the brokers.If you decide to open an account make sure you contact them and get couple of references from the U.S and talk to them before doing anything. Both of them are members of the National Stock Exchange.I have found out that trading NSE listed stocks are easier and less prone to delays in settlement and share scams such as bad delivery etc.Also note that dealing in a rupee account (as opposed to a 'repatriable' account) is cheaper and easier as well however both can be done. DUTT's principal used to be an NRI,he holds an MBA and CPA from the U.S and used to work for a major corporation here in the U.S Full service Broker Minimum amount to open an account:US$5,000.00 Mr.Gogia is chartered accountant and his company is listed on BSE,HSE etc. Full service Broker Minimum amount to open an account:US$5,000.00 Kotak Mahindra-Provides portfolio management service to high net worth individuals and requires a min investment of US$50,000.00.I don't think you can trade securities here like the other two. I am very interested to get some feed back from you or anyone after your initial contact and possibly the eventual outcome. 1)DUTT Stock Broking Limited duttstock.com 2)Gogia Capital Services Limited. gogiacap.com 3)Kotak Securities kotaksec.com 'Have you ever thought about going back to India and doing your trading from there? Have all day to research and trade in the evenings. Don't know if that would be legal though.' I might as I intend to spend a lot of time there beginning the latter part of next year not because of any particular advantage.You think there is some special advantage in trading from there? No as far as I know there is nothing illegal about it as you will be paying taxes here in the U.S for income generated here and if you become a resident in India you will also be paying taxes in India for the income generated there.I think one becomes a resident in India if one stays there 180 days continuously.According to the new regulations NRIs are allowed to keep funds overseas and there is no need to repatriate all the financial assets when they go back to India and become residents.Don't quote me on these but this is my understanding.