Zerodha NRI Trading Account: Leading NRI Investment Account

Zerodha is a leading stock broker and offers online discount broking services to both residents and Non-Resident Indians (NRIs). NRIs can open 2-in-1 accounts with Zerodha that include a trading and a Demat account linked to each other. You can open a Zerodha NRI trading account by linking your NRE or NRO savings bank account. 

Also Read: Best NRI Trading Account in India 2021: Top NRI Stock Brokers

Can NRI Open Zerodha Account

The Zerodha NRI account offers a comprehensive solution by combining a trading account and a demat account into a single entity. NRIs have the opportunity to establish a Zerodha NRI account, enabling them to engage in the purchase and sale of securities on both the BSE and NSE platforms.

Zerodha NRI Account

Zerodha NRI account is a 2-in-1 account that includes NRI trading and demat account linked to each other. NRIs can open a Zerodha NRI account to buy and sell securities across BSE and NSE. Services provided by Zerodha for NRIs include:

• Zerodha NRI Trading Account
• Zerodha NRI Demat Account

Zerodha has partnered with banks and government mandated central depositories to offer stock trading and investment services to NRIs. 

• NRI Bank Account: Axis Bank, HDFC Bank, IDFC First Bank and IndusInd Bank 
• Custodial Account: Orbis Financial Corporation Limited
• Demat Account: Central Depository Services Limited (CDSL)

Note: NRIs need the custodial account for trading in the equity derivatives (F&O) segment. 

Zerodha NRI Trading Account

There are two types of NRI trading accounts – PIS account and Non-PIS account:

1. Portfolio Investment Scheme (PIS) Account: A PIS account allows you to invest using funds from both NRO (Non-repatriable) and NRE (Repatriable) bank accounts. You need to get a permission letter from the RBI through Zerodha’s partner banks (HDFC, IndusInd, IDFC First, Axis, and Yes Bank) to open a PIS account.

2. Non-PIS Account: NRIs don’t need to get any special permissions to open a Non-PIS account. However, only funds in an NRO account can be used for investing. A Non-PIS account is relatively a better option because of lower costs, easier investing experience and fewer restrictions.

Unlike regular accounts NRI trading accounts can be opened offline only. 

Zerodha NRI Trading Process

The Zerodha NRI trading procedure for trading in the Equity Delivery segment can be carried out step by step as follows:

1. Fund Allocation: Transfer funds from your NRE/NRO bank account to your PIS Bank Account. The bank will notify Zerodha regarding the allocated funds, which will then be updated as an available limit in your trading account.
2. Place Order: Utilize the trading software, such as the Zerodha Mobile App or website, to place an order for buying or selling shares.
3. Fund Settlement: At the end of the day, Zerodha will send a contact note to the bank. Based on this note, the bank will debit funds from your PIS account and credit them to Zerodha. When selling stocks from your demat account, Zerodha will send a sell contract note to the bank and also credit the proceeds from the sale to your PIS bank account. It’s important to note that two separate contract notes are sent to the bank: one for all buy transactions and another for all sell transactions.
4. Stocks Settlement: Zerodha will credit the stocks to your NRI demat account. In the case of a sell transaction, the stocks will be debited from your NRI demat account and delivered to the buyer by Zerodha.

Zerodha NRI Trading Softwares

The trading platform provided to NRI’s is identical to the one offered to resident accounts. Zerodha provides a diverse selection of online trading software and tools, including:

• Zerodha Kite (Web-based trading platform)
• Zerodha Kite Mobile (Mobile Trading App)
• Console (Back-office)
• Coin (Zerodha Mutual Fund Investment)
• Sentinel (Live Market Alerts)

Additionally, Zerodha offers the following paid add-ons for advanced traders:

• Smallcase
• Streak
• Sensibull
• StockReports+

Zerodha NRI Trading Account Benefits

Given below are some of the advantages of Zerodha NRI trading account-

1. Zerodha provides trading services at lower brokerage charges.
2. It is the largest stock broker in India in terms of active customers.
3. Zerodha offers access to trading software and tools that are considered the best in the industry.
4. It also supports NRI bank accounts from HDFC Bank, IndusInd Bank, IDFC FIRST Bank, and Axis Bank.
5. Offers AMO and GTC order facility.

Zerodha NRI Account Charges

• For PIS Account: 0.5% or ₹200 per executed order for equity (Whichever is lower)
• For Non-PIS Account: 0.5% or ₹100 per executed order for equity (Whichever is lower)

Can NRI Open Demat Account in Zerodha

Yes, NRIs can open a Demat account with Zerodha. They can open either an NRE or NRO Demat account with Zerodha, allowing them to trade in equity and equity derivatives.

Zerodha NRI Demat Account 

In India, the securities like equity shares, mutual funds, ETFs, NCDs, etc. are held in the Demat account in electronic format. Similar to the bank account where an account holder keeps his money, Demat accounts offer a secure repository of securities. A Demat account is opened and managed by government mandated central depositories CSDL and NSDL. 

To trade in the Indian market, NRIs need to open a Demat account in India. Zerodha is registered with CDSL and offers an NRI Demat account for Indians residing and working overseas. Here are the key features of Zerodha Demat account for NRIs;

• The Zerodha Demat account for NRIs is the same as for resident Indians.
• At the time of Demat account opening, NRI customers need to select account type as NRI and subtype as Repatriable or Non-Repatriable. 
• The Demat account should be linked with an NRE or NRO account. 

Also Read: Best Demat Accounts for NRIs (Non-Resident Indians) 2021

Zerodha NRI trading and Demat account opening

Before opening a trading and Demat account with Zerodha, an NRI customer should obtain a Portfolio Investment Scheme (PIS) permission from the Reserve Bank of India (RBI) and open an NRE or NRO savings bank account and Custodial account. 

Zerodha NRI account opening process is simple. The account opening form is the same for NRIs as for residents. You need to download an account opening form in PDF format, fill it, sign it and send it to Zerodha’s head office in Bangalore (India) along with the required documents. 

Here are the steps you need to follow to download the Zerodha NRI trading account opening form:

• Visit the official website of Zerodha.
• Click on the ‘Download & resources’ link at the bottom of the page. 
• Go to the ‘Application Form’ section.
• Download PDF. 

Zerodha account opening form PDF includes forms for both Demat and trading account opening. 

Note: 

• Only clients who have NRI bank accounts with Axis Bank, HDFC Bank, IDFC First Bank and IndusInd Bank can open an NRI account with Zerodha.
• You can open an NRO non-PIS enabled account, if you are looking for trading only in F&O. No PIS permission is required for the same.  
• Zerodha doesn’t allow customers to trade in equity markets without PIS. 
• You can open an NRE and NRO account simultaneously, but you are allowed to map only one bank account to your trading and Demat account. 

Note: A Demat account is not mandatory for NRIs to invest in mutual funds in India. NRIs can download SBNRI App to choose from 3000+ mutual fund schemes in India or to ask any questions related to mutual fund investment.

Documents required to open account with Zerodha

You need to submit the following documents along with the account opening form to open Zerodha NRI trading and Demat account: 

• Copy of PIS permission letter provided by the bank where you have an NRI bank account.
• Copy of FEMA declaration 
• PAN card copy
• Overseas address proof (a copy of driving license/ foreign passport/ utility bills/ bank statement/ Notarized copy of rent agreement/ sale deed/ leave & license agreement/ utility bills or bank statement (not more than two months old)
• Indian address proof, if any
• Passport size photograph
• In case of an Indian passport: a copy of the valid passport that includes details like name, date and place of birth, issue and expiry date and a copy of the valid visa
• In the case of a foreign passport: A copy of the valid passport and a copy of the PIO/ OCI card
• Bank account proof: A canceled cheque of your NRI account (NRE or NRO savings bank account)
• Declaration of P.O. Box in country of your residence
• Foreign Account Tax Compliance Act (FATCA) Declaration Form

Note: Copy of passport, PAN card and address proof to be self-attested and notarized by any of the following authorities: official of the overseas branch of a scheduled commercial bank registered with RBI, court magistrate/ judge or Indian embassy/ consulate general in the country of your residence.

The attesting authority should affix a ‘Verified with Original’ stamp, name, designation, signature and date on the documents.

Zerodha NRI Account Opening Process

• Open an NRI Bank account with any of the following banks: Axis Bank/ HDFC Bank/ IDFC Bank/ IndusInd Bank.
• Get PIS permission from the Reserve Bank of India (RBI) with the help of your bank. 
• Open a custodial account with Orbis Financial Corporation Limited and get CP code. 
• Arrange copies of supporting documents. 
• Get all supporting documents attested by any competent authorities. 
• Download the account opening form in PDF format. 
• Fill the application form.
• Scan the filled forms along with supporting documents. 
• Send them to the Zerodha NRI desk through email for verification.
• Courier these documents to Zerodha’s Bangalore office in India.  

Note that-

• Once the required documents are received, it typically takes 3 to 5 working days to open an account.
• When opening an account with a bank, you have the option to open both NRE and NRO accounts. However, only one of these accounts (either NRE or NRO) can be linked to your Zerodha NRI Trading account.
• Linking your NRE account allows you to trade in the Equity segment, while linking an NRO account enables you to trade in both the Equity and Derivative segments. Opening two separate trading accounts is necessary if you wish to map both types of accounts.
• Zerodha currently supports NRE or NRO accounts opened with HDFC Bank, Axis Bank, IndusInd Bank, and IDFC FIRST Bank.
• NRIs are limited to trading in equity and equity Futures & Options. Intraday trading, currency trading, and commodity trading are not offered for NRI trading by Zerodha.

NRI Trading Account Charges

Zerodha NRI Mutual Fund

Resident customers can invest in Mutual Funds through ‘Coin’, an online platform. However, NRI customers can’t invest through this platform. NRI customers can invest in mutual funds through an AMC using the Zerodha Demat account.  

Zerodha NRI Customer Care

Convert Zerodha Account to NRI Account

To convert a resident individual account can be converted into NRI-NRO trading and demat accounts, but they cannot be converted into NRO or NRE accounts. The conversion process will require certain documents such as:

• Account modification form
• Account closure form
• Account opening form
• FEMA and FATCA declaration
• Clients detail form
• Photographs
• A copy of PAN card
• Copy of Overseas address proof
• Nominee ID proof
• Bank Account proof
• Self Declaration

Open Zerodha NRI trading account through SBNRI

SBNRI is a corporate partner of Zerodha Broking Limited. Indian citizens living away from their homes can open an NRI trading account with Zerodha through SBNRI and start investing in securities in India. SBNRI helps Non-Resident Indians to open a Demat and trading account with a seamless process and NRI customers can also get expert advice to make informed investment decisions. 

You can download SBNRI App to connect with our experts and get end-to-end assistance related to an NRI investment and trade account opening.

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