An NRI trading account can be opened by approaching a stockbroker or banks offering 3-in-1 account services. An NRI trading account is required to place the buy/sell order with the broker.
Documents required for opening an NRI trading account:
- Document about your current Status:
- In case of an Indian passport:
- Valid passport and
- Place of birth as India and
- Valid Visa - Work/Student/employment/resident permit etc.
- In case of foreign passport: Valid passport and any of the following:
- Place of Birth as India in the foreign passport or
- Copy of PIO / OCI Card
- Copy of the PIS Permission Letter from the respective designated bank for trading on a repatriation
- Copy of FEMA declaration.
- FATCA declaration.
- The PIS NRE/NRO bank accounts cancelled check leaf.
- PAN Card.
- Overseas Address Proof - Driving License/ Foreign Passport /Utility Bills/Bank statement (not more than 2 months old)/Notarized copy of rent agreement/ leave & license agreement/ Sale deed.
- Proof of respective bank accounts & depository accounts.
- Account opening fee cheque.
- Duly signed account opening forms.
Note:
- The above is a generic list of documents for reference and the requirements may vary a bit from broker to broker.
- The documents should be self-attested and notarized by Indian Embassy or any other competent authority like Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker in the country where the NRI resides.
