The manager opens a demat and custody account in your name; whether it accepts the UAE residents is that firm's own policy. From ₹50 lakh. It is meant for long-term money.
What it is
A PMS is a professional manager running a portfolio of listed stocks (sometimes bonds) in your own demat account. You see every holding and every trade. Most are discretionary: the manager decides within a stated strategy. The minimum is ₹50 lakh, a floor SEBI sets.
Who it's for
Someone with ₹50 lakh or more that can stay invested for several years, who wants holdings in their own name and a strategy they can read, and who is comfortable with a portfolio of 15 to 30 stocks rather than a fund's hundreds.
It isn't a step up from mutual funds for everyone. A diversified fund does a similar job for most people at a lower cost; the PMS or mutual funds guide sets out the difference.
What it needs from abroad
An NRE or NRO account. An NRE-funded holding is on a repatriation basis; an NRO-funded holding is on a non-repatriation basis, and those sale proceeds are credited only to your NRO account. The manager opens the demat and custody accounts, with your documents attested at an Indian consulate or by a notary. PAN, a FATCA/CRS declaration and in-person or video verification complete it.
Risks and catches
Concentration: a 20-stock portfolio moves more than the market. Fees are higher than a fund's, and performance fees can be charged in a year the portfolio still lost money if the terms allow it. Exit takes days, not hours: stocks are sold and the money reaches your account after settlement. Every manager's strategy and record is different, and past performance tells you little.
What it costs
Fees are a fixed percentage of assets, a share of profits above a hurdle, or both. They are disclosed in the agreement you sign with the manager.
We are introduced as the distributor and the manager pays us a share of its fee. The commission is shared with you anytime you ask (see the commission disclosure).
Tax, for an NRI
Gains are taxed in India as short-term or long-term capital gains on each sale. Tax is deducted at source on sums paid to a non-resident, so what reaches you is net. Your country of residence may tax the gains too; where India has a tax treaty with it, you may get credit for the Indian tax paid. These rules are set by the Income-tax Act, 2025, in force since 1 April 2026.
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