Mirae Asset Sharekhan has launched a new US investing platform, Mirae Asset GIFT Sharekhan, allowing Indian investors to trade in US-listed stocks and ETFs through India's International Financial Services Centre (IFSC) at GIFT City. The platform provides access to over 10,000 US stocks and ETFs, including more than 2,500 fractional shares, with a minimum investment threshold of $1.
Under the tax framework for US stock investing via GIFT City, US dividends face a 25% withholding tax eligible for domestic tax credit under the India-US DTAA, while LRS remittances incur 20% TCS above Rs 10 lakh per financial year.
The offering is designed to operate within the regulatory framework of the Reserve Bank of India's Liberalised Remittance Scheme (LRS), which permits resident Indian investors to remit up to $250,000 per financial year. The platform is powered by Mirae Asset Capital Markets (IFSC) Pvt. Ltd., which holds an IFSCA Broker Dealer registration. To lower barriers to entry, the service features zero account-opening fees and no annual platform charges, with a fully digital onboarding process available at gift.sharekhan.com.
Moon Kyung Kang, CEO of Mirae Asset Capital Markets and Mirae Asset Sharekhan, stated that the platform aims to help Indian investors build more diversified portfolios by accessing global growth themes such as artificial intelligence, semiconductors, and cloud computing. The platform also integrates ETFs from Global X, a Mirae Asset group company, which focus on thematic innovation and various global markets. In addition to geographic diversification, the platform offers a potential hedge against rupee depreciation, as investments are denominated in US dollars. The service is available to both resident Indian and eligible NRI investors, providing features such as INR-to-USD fund transfers, live market data, and dividend reinvestment.
Mirae Asset Financial Group, based in South Korea, bought Sharekhan from BNP Paribas for ₹3,000 crore, broadening its reach in India’s financial market.
Access to overseas shares through GIFT City should not be equated automatically with buying stocks through an ordinary domestic demat account. The investing route can affect the entity holding assets, permitted instruments, fees, currency conversion, investor protection and tax reporting. Before depositing money, customers should check the platform's regulator and contractual terms, funding process, custody arrangements and treatment of dividends or corporate actions. Foreign-stock returns also reflect changes in the rupee-dollar exchange rate. A convenient interface does not remove overseas market risk or compliance obligations.
