Can an existing Zerodha account be converted to an NRI account?
Resident individual accounts can be converted into NRI-NRO trading and demat accounts, not NRI-NRE accounts. The following documents are required to convert a resident account to an NRI account:
| Document | Purpose/No of copies. |
| Account modification form (PDF) |
To update the bank and address details of the demat account. Ensure that the signature on the account modification form matches the signature in the existing account. The signature in the existing account can be found by visiting console.zerodha.com/account/documents , selecting Signature proof in the drop-down menu, and clicking on E-mail to me. |
| Account closure form (PDF) |
For closing the resident account. Ensure that the signature on the account closure form matches the signature in the existing account. The signature in the existing account can be found by visiting console.zerodha.com/account/documents , selecting Signature proof in the drop-down menu, and clicking on E-mail to me. |
| Account opening form (PDF) | For opening an NRI-NRO account. |
| FEMA declaration (PDF) | One copy |
| FATCA declaration (PDF) |
One copy, Tax Identification Number (TIN) must be filled in the FATCA declaration. The common TINs are as follows:
TINs for other countries can be found by visiting oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/. Submit tax identity proof if applicable. |
| Client Details Form (PDF) | One copy |
| Demat Debit and Pledge Instruction (DDPI), optional (PDF) | The DDPI allows brokers to debit shares from the demat account. See, What is Demat Debit and Pledge Instruction (DDPI)? Alternatively, shares can be sold without the DDPI using the CDSL TPIN. See How do I generate the CDSL TPIN required to authorise my CNC sell transactions? |
| Photograph | One copy to paste on the KYC form that is part of the account modification form and sign across it. |
| Notarised Copy of PAN card² | One copy, self-attested |
| Notarised copy of Overseas address proof² | One copy of the following: Driving Licence, Foreign passport, Utility bills, Banker letter attested by the bank (PDF) , Notarised copy of the rental agreement or lease or sale deed. |
| In the case of an Indian Passport² |
Notarised copy of valid passport with the place of birth as India and copy of a valid visa.
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| In case of Foreign Passport² | Notarised copy of valid passport and copy of PIO or OCI card. |
| Bank account proof |
A cancelled cheque leaf of the NRO savings bank account.
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| Nominee ID proof | If a nominee is added to your account. |
| Annexure B (PDF) | To update the name in the demat account as per the latest documents. |
| Self-declaration (PDF) | If there is a minor mismatch in the name between the supporting documents. |
In-person Verification (IPV)
As part of the mandatory In-Person Verification (IPV) requirement for all brokers, a webcam or physical verification is required for NRI joint accounts, the joint account holders should complete the IPV. See What is In-Person Verification (IPV), and why is it required?
Need help ? Call on +91-080 4719 2020 or 080 71175337 or create a ticket.
Once all the documents are ready, e-mail the soft copy of all the forms to [email protected] The forms will be reviewed in case any corrections are required. The conversion will cost ₹500 and will be processed within 7 working days once all the documents are received. For faster conversion, ensure the trading account balance is zero and there are no dues.
Courier all the documents to the following address:
Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078
Notes
¹ Share transfer from a resident account to an NRI-NRE account is not allowed.
² Copy of PAN card, Passport, and Foreign address proof to be notarised by the Indian embassy or any other competent authority such as authorised officials of overseas branches of scheduled commercial banks registered in India (WEB) , public notaries, court magistrate, judge, or the Indian embassy (WEB) or consulate general in the country that they reside in the country where the NRI resides. The attesting authority should affix a verified with original stamp, name, designation, authority or employee code, signature and date on the said documents.
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