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How can NRIs transfer shares from their existing demat account to an NRI Zerodha account?

The process for transferring shares from an existing CDSL NRI demat account to a Zerodha demat account is the same as a residential demat account transfer. To learn how to transfer, see How to transfer shares from the Zerodha account using CDSL Easiest?

To transfer shares from an NSDL demat account to Zerodha, the following documents must be submitted to the existing broker:

Before transferring shares to Zerodha, note the following:

  • The PIS account linked with Zerodha and the other broker must be the same. If they are not, obtain a No Objection Certificate (NOC) from the bank that has issued the PIS account linked to the other broker and submit it to the bank that has issued the PIS account linked to Zerodha. The NOC contains information on the trades placed with the other broker and helps ascertain capital gains. Clients with an NRO-Non PIS account can update the trade details on Console. See, How to update the buy average on Console?
  • If shares are to be transferred to an NRE account held with Zerodha, the existing NRI account with the other broker must also be an NRE account.
  • Shares from an NRO or resident account can be transferred to an NRO Non-PIS account.
  • The bank must update the buying price of the transferred shares in the PIS ledger. This also results in the delayed settlement of funds to be credited to the PIS account.

Did you know? Zerodha does not facilitate opening NRO (PIS) accounts.