Are you an NRI- Here is how you can open a Demat account
SBNRI Team
answered on 25/02/2023
Demat Account is a part of the trading account which NRI opens to trade in the Indian stock market online. Demat Accounts are used to hold the shares in electronic form.
As of now no bank offers to open a Demat account online. But you can access the bank websites and third party service providers such as Zerodha, where you can apply for a demat account and send the required documents to them via courier.
If you choose to not go through with any third party website, you either need to visit the bank branch in India or send the required documents to the branch in India via courier.
Open NRI Demat Account
The documents required to open a Demat account online for NRIs are:
- Proof of Identity (POI) (Eg.: Driving license)
- Proof of Address (POA) (Eg.: Passport)
- Proof of Income (For trading in derivatives) (Eg.: Copy of ITR Acknowledgement)
- Proof of Bank Account (Eg.: Cancelled cheque)
- PAN Card
- 1 to 3 passport size photographs
Can NRIs have multiple Demat Accounts in India:
Yes. An NRI can have multiple demat accounts.
Can NRI invest in Indian equities?
Yes. NRIs can invest in Indian equities by investing their money into stocks listed on the National Stock Exchange of India Ltd. (NSE). To be eligible to invest into stocks, NRIs need to be a part of the Portfolio Investment Scheme (PIS) that will allow them to trade stocks.
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