Paasa is a global investing platform for Indian residents and NRIs, with shares held in your own name and the LRS, FX and tax paperwork handled for you. Charles Schwab is a US broker closed to residents of India, which Indians usually meet through years in the US or RSUs from a US employer. Use Schwab while you live in the US. Use Paasa once India is home, or to invest across global markets.
How do Paasa and Charles Schwab compare for US stocks at a glance?
The table compares Paasa and Charles Schwab as of October 2026.
| Feature | Paasa | Charles Schwab |
|---|---|---|
| Who can open an account | Indian residents and NRIs with valid KYC | US residents and non-US residents in accepted countries. Not India |
| Who holds your shares | Interactive Brokers LLC, in an account in your own name | Charles Schwab and Co., Inc., in your own name |
| Investor protection | SIPC up to $500,000 plus Lloyd's excess up to $30 million, on your own account | SIPC up to $500,000 per capacity plus an excess programme |
| Markets | 10 markets, each in its home currency | US-listed only, in USD |
| What you can buy | 15,000+ tickers, UCITS ETFs, SIPs | US stocks, ETFs, options, mutual funds and bonds. No UCITS ETFs |
| Equity awards | Receives vested RSUs in-kind and helps diversify them | Schwab One International account, often limited to holding or selling |
| Brokerage | 0.10% plus $0.15 per order, min $0.50, max $50. No monthly fee | No online commission on US stocks and ETFs. Per-contract fee on options |
| Funding | Indian banks under LRS, or a wire from a US bank. Withdraw in any currency | Linked US bank account or wire |
| Tax reports | Schedule CG, FA, OS/FSI, Form 67, ITR-2 checklist, Form 1042-S | Form 1099 or 1042-S. No Indian schedules |
| Moving your shares | Accepts in-kind ACATS transfers, cost basis preserved | ACATS transfers out, with a fee on a full transfer |
| Advice and support | SEBI-registered advice and a relationship manager on Apex | Self-directed, phone specialists on weekdays |
What is Paasa, and what is Charles Schwab?
Paasa is a global investing platform for Indian investors, built on Interactive Brokers. A Paasa account is an IBKR account in the investor's own name, open to Indian residents and NRIs with valid KYC. Paasa adds Indian onboarding, LRS and FX support, INR tax reports and SEBI-registered advice.
Charles Schwab is one of the largest US brokers, with Charles Schwab and Co., Inc. as its SIPC-member broker-dealer. It also runs employee stock plans for many US companies, so Indian employees often hold RSUs there. As of October 2026, it does not accept residents of India.
Who can open an account, and what happens to RSUs held at Schwab?
Indian residents cannot open a Schwab brokerage account, and RSU holders get a limited one. Paasa's Schwab transfer guide notes that India is on Schwab's restricted list for new accounts as of May 2026.
Schwab gives stock-plan participants outside the US a Schwab One International account with a W-8BEN, often limited to holding and selling the awards. Paasa accepts Indian residents and NRIs with valid KYC, so the same employee can hold a Paasa account alongside and move vested shares in-kind. Paasa's RSU checklist for moving back to India covers the timing.
On Paasa, Interactive Brokers LLC holds the shares in your own name, with SIPC protection up to $500,000, including $250,000 for cash, plus Lloyd's excess cover up to $30 million. See how your money is held and protected with Paasa.
What does each cost on a US trade?
Schwab charges no online commission on US stocks and ETFs, and Paasa a small percentage per trade. Paasa's figures are from its pricing page, October 2026.
Paasa's Access plan has no monthly fee. US brokerage is 0.10% of trade value plus $0.15 per order, with a $0.50 minimum and a $50 maximum. In-account currency conversion costs 0.03%, minimum $2, at the mid-market rate. Apex adds advice for 1% a year plus GST from $50,000, 0.7% from $100,000 and 0.5% from $500,000.
Schwab charges per contract on options and a fee on a full transfer out, but for a returning Indian the larger costs sit elsewhere. A forced sale triggers tax, and US-listed holdings above $60,000 carry US estate-tax exposure for non-residents. Paasa's brokerage calculator and all-in cost comparison cover the trading side.
How do I send money to Paasa or Charles Schwab from India or the US?
Paasa accepts money from Indian and foreign banks, and Schwab from a US bank or wire. From India, Paasa is funded under LRS. The RBI lets each resident remit up to USD 250,000 per financial year (RBI). Tax Collected at Source (TCS) applies at 20% on investment remittances above ₹10 lakh in a financial year (Income Tax Department TCS rates). TCS is not a fee and is adjusted or refunded when you file your return.
With Paasa, partner banks HDFC, ICICI, Axis and Kotak offer preferred FX rates, and Paasa pre-fills Form A2 and Forms 15CA/CB. From the US, a wire from your bank or RSU sale proceeds funds Paasa with no minimum. Paasa's LRS guide and returning-from-US page cover the steps.
Which markets and products can I buy on each?
Paasa reaches 10 markets, and Schwab the US only. Paasa covers 15,000+ tickers across the US, UK, Switzerland, Germany, France, Netherlands, Hong Kong, Japan, Canada and Singapore, each in its home currency. It adds Irish-domiciled UCITS ETFs in whole units or fractions, which sit outside the US estate tax on non-residents (IRS), plus SIPs.
Schwab's accounts hold US-listed stocks, ETFs, options, mutual funds and bonds in US dollars. Its foreign-market account is for US residents only, and there are no UCITS ETFs.
What do I get at tax time from Paasa and from Charles Schwab?
Paasa sends Indian tax paperwork, and Schwab US tax forms. Each financial year, Paasa provides Schedule CG, FA and OS/FSI, Form 67, an ITR-2 checklist and Form 1042-S, all in INR. Paasa's Schedule FA guide, RNOR explainer and Paasa Tax cover the details.
Schwab issues Form 1099 or 1042-S, with no Indian gains figures, INR values or Schedule FA data. RSUs vesting in the RNOR window, typically 2 to 3 years, are taxed only in the US. As an ordinary resident, vesting adds the full value to Indian income, gains on US shares held over 24 months are taxed at 12.5%, and every foreign holding goes into Schedule FA.
What is day-to-day use like on Paasa and on Charles Schwab?
Paasa is built around one global account with human support, and Schwab around a full-service US brokerage. On Paasa, uninvested USD above $10,000 earns interest, up to 3.38% a year as of October 2026. Paasa's team answers by email and WhatsApp on weekdays, and Apex clients get a relationship manager.
On Schwab, stocks, ETFs, options, mutual funds and bonds sit across its app, website and thinkorswim, with phone specialists on weekdays.
When is Charles Schwab the better choice?
Charles Schwab may suit you better than Paasa if:
- You live in the US and plan to stay.
- You trade US options or mutual funds, or want thinkorswim.
- Your employer's stock plan runs on Schwab, so vesting lands there.
Should I choose Paasa or Charles Schwab?
Choose Charles Schwab while you are a US resident. Choose Paasa if you live in India, are moving back, or hold Schwab RSUs you want to diversify across global markets.
| If you… | Better fit |
|---|---|
| Live in India and want US stocks or UCITS ETFs | Paasa |
| Are moving back to India with a Schwab portfolio | Paasa |
| Hold vested RSUs at Schwab to diversify | Paasa |
| Want UCITS ETFs outside US estate tax | Paasa |
| Live in the US and trade options or mutual funds | Charles Schwab |
| Need the account your stock plan vests into | Charles Schwab |
Already on Schwab? Paasa accepts in-kind ACATS transfers of whole US shares and ETFs, with purchase dates and prices preserved and no sale. Schwab's own funds and fractional shares are sold first, and Paasa takes full transfers only. See the transfer guide from Schwab.
How does Paasa help investors coming from Charles Schwab?
- Paasa opens the IBKR account in your own name before or after the move.
- Paasa receives your Schwab shares and vested RSUs in-kind, so nothing is sold and no tax is triggered.
- Paasa sends Schedule CG, FA, OS/FSI and Form 67 every financial year.
Disclosures
Advisory services are offered by Arc Spire Advisory Private Limited, a SEBI Registered Non-Individual Investment Adviser, INA000021058. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. This article is not tax advice. Consult a qualified tax adviser for your situation.
