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 0.5% or Rs 100 per executed order (whichever is lower).
- 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)
To open an account raise a ticket below and our team will reach out to assist. Documents required to open an NRI Trading and Demat account are:
- 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 (Attested by Competent Authority*)
- FEMA declaration - 1 copy
- FATCA /CRS declaration- 1 copy
- Client Details form - 1 copy (to confirm the details filled)
- Nominee ID proof - 1 copy (In case you have added a nominee)
*Competent Authority: Indian Embassy/Consulate General/Notary Public/Any Court/Magistrate/Judge/Local Banker in the country where the NRI resides. The attesting authority should affix a "verified with original" stamp, name, designation, signature and date on the said documents. If you are KYC verified as an NRI (you hold/held an NRE/NRO trading account earlier), there is no requirement of these attestations.
- 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.
Note : If you already have an NRO account with us, using the PIS mode and wish to convert it to NRO non-PIS account you can write to us at [email protected]
If you raise a ticket, please make sure you include a mobile number for us to reach you.