You can convert your resident demat account to a Non-Resident Indian (NRI) demat account by couriering the account modification forms, identity documents, address and bank proof, and a ₹500 account opening fee (by cheque) to Zerodha. You can only convert to a Non-Resident Ordinary (NRO) account, not a Non-Resident External (NRE) account. Before you start, ensure your residential status shows as non-resident on the Income Tax Department (ITD) website.
Your user ID stays the same. The conversion takes up to 7 working days, during which you cannot access Kite but can view your holdings through CDSL Easi.
As per Financial Action Task Force (FATF) guidelines, you cannot convert your account if you reside in a blacklisted country. If you reside in a greylisted country, you can convert only after Zerodha's compliance team approves it.
Required documents
- Account modification form (PDF), sample copy (PDF)
- Segment addition page (PDF), sample copy (PDF)
- Declarations and annexures form (PDF), sample copy (PDF), which includes FATCA, FEMA, Annexure B, client detail form, self-declaration, and modification form.
- Nominee page (PDF) (optional): Addition or modification of nominee details, sample copy (PDF)
- Annexure 1B (PDF) (optional): Removal of nominee details, sample copy (PDF)
- Identity proof (Notarised and self-attested) (any one of the following): Indian passport, or a foreign passport copy with a visa, resident card, Overseas Citizen of India (OCI) card, or Person of Indian Origin (POI) document.
- PAN card copy (self-attested).
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Address proof (Notarised and self-attested): Submit one overseas address proof and one Indian address proof. You can provide any one of the following for each: driving licence, passport, utility bill, resident permit card, OCI card, bank statement, banker's letter on the bank's letterhead
(PDF),
rental agreement, lease agreement, sale deed, or, for Merchant Navy NRIs, a mariner's declaration or a certified copy of the Continuous Discharge Certificate (CDC).
- Bank proof (Self-attested): a personalised cancelled cheque or bank statement from your NRO account.
- Income proof (Self-attested): NRIs count as Clients of Special Category (CSC), so you must submit one of the following: a bank statement or passbook for the last six months, latest salary slip, Form 16, Income Tax Return (ITR) acknowledgement, net worth certificate, or statement of demat holdings.
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Immigration copy (Self-attested): provide your latest immigration copy if you are in India and submitting the documents to the Zerodha branch, or getting the notary done in India.
Name or signature mismatch
If there is a major name mismatch or signature mismatch between your account and your documents, modify the detail in your account by submitting the required documents. If your signature does not match your KYC records, provide a Banker's signature letter (PDF), from your bank (Indian or overseas).
Notarisation and KYC status
You do not need to notarise your documents if your KYC status is "Non-Resident" or if you are physically submitting the documents at a Zerodha branch office. Otherwise, notarise all documents through the Indian embassy or consulate general in your country of residence, authorised officials of overseas branches of scheduled commercial banks registered in India, a local banker, public notaries, court magistrates, or judges. To check your KYC status, create a ticket mentioning your PAN and date of birth.
Tax Identification Numbers (TINs)
If you submit a FATCA declaration, you can find the Tax Identification Number (TIN) for each country on the Organisation for Economic Co-operation and Development (OECD) website. The common ones are USA (SSN, EIN, or ITIN), Canada (SIN), UK (UTR or NINO), Singapore (NRIC or FIN), and Australia (TFN).
Steps to convert your account
Once you have prepared the documents above, follow these steps.
- Ensure all signatures match your existing signature proof. To find it, visit console.zerodha.com/account/documents, select Signature proof in the drop-down menu, and click on E-mail to me.
- Email your completed documents to [email protected] and make any corrections Zerodha requests.
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Complete In-Person Verification (IPV):
- Visit signup.zerodha.com/ipv.
- Note the 4-digit one-time password (OTP) on the screen, enable your camera, and show the OTP while you are clearly visible.
- Courier the documents and a ₹500 cheque (payable to Zerodha Broking Limited) for the account opening fee to:
Zerodha Customer Support Centre
192A 4th Floor,
Kalyani Vista, 3rd Main Road,
JP Nagar 4th Phase,
Bengaluru, 560076
Opening a new NRI account instead
Instead of converting, you can close your resident account and open a new NRI account . If you are in India, you can do this online using the e-sign facility. If you are outside India, you can do it online when your KYC Registration Agency (KRA) record is verified; otherwise, print, sign, and courier the documents to Zerodha.