An NRI requires a number of documents to open a Demat account in India. Continue reading to find out the list of documents.
NRI, meaning Non-Resident Indian. To get the NRI status you must be an Indian citizen. You must have stayed abroad for 183 or more in a particular financial year or You must have stayed in India foe less than 365 days in the last 4 consecutive financial years and less than 60 years in the current financial year.
Such Non-resident Indians can open a Demat account and trade in Indian securities just like how an Indian resident does. Let’s find out what are the documents required for NRIs to open a Demat account in the first place.
NRIs can open their Demat account online these days. The account opening process and rules and regulations may vary from service provider to service provider.
Documents for NRI Demat Account Opening
The following are the list of documents that are generally required for the NRIs to submit:
All the above-mentioned documents must be signed and sealed by an Indian Notary Public or a member of the Indian Embassy in the country where the NRI is residing currently.
It can be inferred that whether you are a resident of India or not, you can easily trade in Indian securities, given you are a citizen of India. An NRI can trade in shares, ETFs, mutual funds or convertible debentures. Having said all the above, NRIs cannot own more than 5% of their paid-up capital in an Demat account.
You are required to fill up and submit a number of forms and documents via post to open a Zerodha account as an NRI. Continue reading and be informed.
Public Provident Fund Scheme is a saving scheme that comes with tax benefits. Ministry of Finance introduced this scheme in the year 1968. The main objective of PPF is to encourage general people to mobilize their small savings. The interest offered on these schemes are not taxable. Precisely, PPF is an investment with non-taxable returns.
There are mainly 5 types of bank accounts in India. These include Savings account, Current account ,Fixed deposit account, Recurring deposit account and NRI accounts.
Yes, NRIs can invest in Indian stock market. It is essential for the individual to check if he is considered as NRI or not according to the norms of the government. If yes, only then he can invest. There are also certain rules and regulations that must be followed.
Yes , NRI can invest in Mutual Funds in Zerodha by opening a non-PIS account. However, there are restrictions for NRI investors with PIS accounts, as well as investors based in the US and Canada; they are not permitted to invest in mutual funds in Zerodha.
Yes, NRI can invest in Smallcase in Zerodha. They can invest using any NRI demat account they have with Zerodha, whether it is NRE PIS or NRO non-PIS.
Yes, any NRI can invest in mutual funds in India, if they follow some certain conditions under Foreign Exchange Management Act or FEMA Act 1999.
Yes, an Overseas Citizen of India (OCI) can invest in Indian stock market. Let's know ways how an OCI can start investing in Indian stocks from another country.
For closing the Sharekhan Demat account, the process is quite simple as with other stock brokers in India. Download the application closure form, fill up the details & submit it in the nearest branch.
Absolutely, you can open two or more demat accounts with one single bank account. You can, later on, add other bank accounts to your demat account as per your requirements.