How to open an NRO non-PIS account?
NRIs can now acquire and hold, on a non-repatriation basis: equity shares, convertible preference shares, convertible debenture, warrants, or units that will be considered domestic investments at par with investments made by residents using their NRO accounts.
- No requirement of PIS to trade through this route, thereby saving reporting & other costs levied by banks.
- Trading experience will be similar to that of a standard resident account.NRIs investing via the NRO-non PIS route can invest without any limits.
- No restriction on the NRO bank account that can be linked (not only those accounts Zerodha has partnered with, but any bank can be mapped).
- Brokerage of Rs 100 per executed order
- Investing in mutual funds can be made across all asset management companies (AMCs) and all funds. (Except for NRIs who are tax residents of the US and Canada)
- Account opening form
- PAN - one copy (Attested by a Competent Authority*)
- Passport - one copy (Attested by Competent Authority*)
- NRO Cancel cheque -1 leaf (In case of non-availability you can provide a bank statement of the NRO account)
- Foreign address proof - 1 copy (Attested by a Competent Authority*)
- Indian address proof - 1 copy
- FEMA declaration- 1 copy
- FATCA/CRS declaration- 1 copy
- NRI can trade only delivery based.
- No intraday/BTST trading on equity/stocks allowed.
- No currency or commodity trading allowed.
- Equity F&O through a CP (custodial participant) code.