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.
To get Demat account opening advisory from SBNRI, contact us using the button below.
Ask SBNRI Investment Expert Now
Related Questions
SBNRI Team
answered on 20/02/2023
Can I deposit cash in my NRO account? Yes, you can deposit cash in an NRO account after sharing the source of income of the money that you are depositing with the bank. To open an NRO Bank Account or ask any questions related to NRO account, click the button below. […]
SBNRI Team
answered on 23/03/2020
No! A Pan Card is not a mandatory document for opening an NRI account. The basic use of a PAN Card can be associated with taxes. A PAN Card is a mandatory document to file taxes and carry on investments from these NRI Accounts. In the absence of the Pan Card, NRIs can sign Form […]
SBNRI Team
answered on 23/03/2020
Most of the Top Banks opt for an Average Quarterly Balance (AQB) or Average Monthly Balance (AMB) to open an NRE/NRO Regular Savings Accounts. The average AQB/AMB of most of the top banks for opening an NRE/NRO Account is Rs.10,000/- which can be understood as the minimum balance for NRE/NRO Account in India: Minimum […]
SBNRI Team
answered on 17/08/2023
The benefits of opening an NRI Account are as follows: An NRI (Non-Resident Indian) account is a bank account designed specifically for Indians living abroad. There are several benefits of an NRI account, including: 1. Easy repatriation of funds: NRI accounts allow easy transfer of funds to and from India. This makes […]
