How NRI can open Demat account?

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An NRI can open a Demat account either with a depository participant, or stockbroker providing 2-in-1 account services or bank providing 3-in-1 account services.

By opting for a 3-in-1 account facility, an NRI can open all accounts required for trading at one go which provides a seamless account opening and trading experience.

An NRI needs to select the account type as ' Repatriable Demat ' account or 'Non-Repatriable Demat' account based on the repatriation benefits. The account opening can be done online or offline as per the services offered by the market participants.

Steps to open Demat account:

  1. Download, print or fill the account opening form online.
  2. Attach the required documents. The documents should be self-attested or notarized by the Indian embassy or any other competent authority.
  3. Submit the form or send the duly filled and signed form to the required bank, broker, or depository participant.

Documents required for Demat account opening:

  1. Completely filled account opening form signed by all the holders.
  2. PIS permission letter from the bank (issued by RBI).
  3. Photographs of all the holders with signatures across the photo.
  4. PAN Card copy for all holders.
  5. Overseas address proof for all the holders.
  6. Cancelled cheque of the linked NRE/NRO Bank account specified in the form.
  7. Photograph and signature of the nominee (for nomination facility).

Note: The above is a generic list of documents provided for reference and the list may vary a bit for each broker, bank, or DP.


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