Can oci card holder be considered as citizen of india ?

ks (Querist) 04 November 2021 This query is : Resolved
Hello,

Below is the link which says that for registration as an "Authorized Person" of a Broker , person should be a citizen of India.
https://www.nseindia.com/trade/authorised-for-membership#:~:text=NSE%2FMEMB%2F13429%20dated%20November,agent%20of%20the%20Stock%20Broker'.

May I know whether an US citizen having OCI Card can apply as an Authorized Person ?

What are the alternatvies if he/ she wants to become Authorized Person ?

Follow Query

Report Abuse

P. Venu (Expert) 05 November 2021
What are the facts? What is the context?

kavksatyanarayana (Expert) 06 November 2021
An OCI is not a citizen of India, but the Indian Government has given the cardholder permission to reside and work within the boundaries of India. I think this may useful to you.

ks (Querist) 08 November 2021
https://www.nseindia.com/trade/authorised-for-membership#:~:text=NSE%2FMEMB%2F13429%20dated%20November,agent%20of%20the%20Stock%20Broker'.

As per above link, only Citizen of India can become Authorized person (Sub Broker) of a Main Broker.

Now if OCI is permitted to work within boundaries of India can he be permitted to act as an Authorized Person (Sub Broker) in Share Market ?

ks (Querist) 08 November 2021
Hello Venu Sir,

My sister is Citizen of USA and wants to become Sub Broker (Authorized Person) in NSE under any renowned Broker. These are the facts.