How to open trading account for NRI?

Step 1: Open an NRI Bank Account

You’ll need either of the following:

Step 2: Obtain PIS Permission (if equity trading)

• Apply for Portfolio Investment Scheme (PIS) permission through your Indian bank.
• The bank applies to RBI on your behalf and gives you a PIS approval letter.
• This is mandatory for equity investing via the NRE route.

(Note: Some brokers offer “Non-PIS” accounts for NRO-linked accounts for easier compliance, especially if you want to do F&O.)

Step 3: Open a Demat Account

• Open an NRI Demat Account with a depository participant (NSDL or CDSL).
• Required documents:
• Copy of Passport.
• Visa or Work Permit.
• Overseas address proof.
• Indian address proof (if any).
• PAN Card (mandatory for stock market investment).
• FATCA Declaration.
• PIS permission letter (if applicable).

Step 4: Open a Trading Account

• Choose a SEBI-registered stockbroker that offers NRI services.
• Submit the following:
• Completed KYC Form.
• PIS letter (for NRE).
• Account opening documents (passport, PAN, address proof).
• Recent photographs.
• FEMA declaration.

Once approved, your trading account will be linked to:

• NRI bank account (NRE/NRO),
• PIS permission (if applicable),
• and your demat account.

Step 5: Fund Your Account & Start Trading

• Transfer money from your NRI bank account.
• Use the trading platform provided by your broker.
• NRIs can:
• Buy/sell stocks (delivery only).
• Trade in F&O (via NRO + Custodian route).
• Invest in Mutual Funds & IPOs.