How do I convert my NRI account to a resident account?
To convert your NRE/NRO account to a resident trading & demat account the following documents would be required:
|Account modification form||Required to update the bank and address details of your demat account|
|Trading account closure form||Required for closing the NRI trading account (2 copies if you're holdings both NRE and NRO accounts)|
|Trading application form||Required for opening a resident trading account|
|Photographs||One. Paste on the KYC form and sign across it.|
|PAN card||1 copy, self-attested|
|Address proof||1 copy, self-attested - (Driving License, Voter ID, Passport, Aadhar Card, Bank statement, etc. -Any 1)|
|Income proof||1 copy, self-attested - (Latest salary slip, ITR, Form 16, 6-month bank Statement, etc. - Any 1) -Needed for derivatives trading(FO, CDS, and MCX)|
|Bank proof||Personalized canceled cheque(name printed on it) or bank statement or bank passbook copy(With visible bank account number, MICR and IFSC code)|
Note: Only one account can be converted to resident account either NRE or NRO. Since a brokerage firm cannot open multiple resident trading accounts with the same PAN details, we will do a closure cum transfer for the other account.