How to open NRI trading account?

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:

1. 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

1. Copy of the PIS Permission Letter from the respective designated bank for trading on a repatriation
2. Copy of FEMA declaration.
3. FATCA declaration.
4. The PIS NRE/NRO bank accounts cancelled check leaf.
5. PAN Card.
6. 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.
7. Proof of respective bank accounts & depository accounts.
8. Account opening fee cheque.
9. Duly signed account opening forms.

Note:

1. The above is a generic list of documents for reference and the requirements may vary a bit from broker to broker.
2. 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.