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Can I convert my existing account at Zerodha to an NRI account?

Yes, you can convert your existing resident individual account into an NRI- NRO trading & DEMAT account in Zerodha. However, converting your resident individual account to NRI-NRE Account is not possible.

An alternative to convert your resident individual account to an NRI account is to transfer your holdings to another residential account and close your resident account and open a new NRI(NRE) account. (Share transfer from a resident account to an NRI(NRE) account is not allowed).

An NRE account is a bank account where both the principal and the interest earned can be repatriated. An NRO has restricted repatriation.

Note: For trading in futures and options, an NRO account is required to be linked to your trading account. The NRO account must have mapped a Custodial participant code (CP). We have tied up with Orbis Financials for custodial services. Hence, all your fund transfers for FnO trades will be to Orbis Financials. Also please note you can trade either in EQ or F&O segment at a time. You cannot trade both Equity and F&O simultaneously. To know more, click here .

Documents required to convert the existing resident account to NRI account -

  1. Account Modification Form - To update the Bank details and Overseas address in the CDSL.
  2. Copy of FEMA declaration
  3. FATCA Declaration Form
  4. Declaration of P.O. Box - This is only for those who reside in the UAE countries.
  5. Trading Closure form for closing the resident trading account
  6. Trading application form
  7. Notarized Copy of PAN card*
  8. Notarised copy of Overseas address proof* – Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (not more than 2 months)/Notarized copy of rent agreement/Leave & License agreement/ Sale Deed
  9. In case of an Indian Passport: Notarized Copy of valid passport* with the place of birth as India, Copy of Valid Visa
  10. In case of Foreign Passport: Notarized Copy of Valid passport*, Copy of PIO/OCI card.
  11. Proof of Bank account ( a canceled cheque leaf of your NRO savings bank account).
  12. Client Details form to confirm all the details filled in the application.
  13. Nominee ID proof (In case you have added a nominee)

Note: Copy of PAN card, Passport, and Foreign address proof to be 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.

When you convert your existing account your mutual fund investments with Zerodha will be transferred to the NRO-non PIS account.

The charges for NRI accounts are mentioned here . Once we receive all the requisite forms and documents, the conversion will be completed in 7-8 working days. Also, please ensure the credit/debit balance in your existing resident individual account is NIL for faster conversion.

Please go through this link that explains the NRI account opening process. We also recommend you to check this video about NRI Trading.

If you create a ticket, please make sure you include a mobile number for us to reach you.