How to convert a resident demat account to an NRI demat account?

Specific documentation and procedures must be followed to convert a resident demat account to an NRI demat account. The conversion requires application forms, identity documents, address and bank proof. Refer to the sample copies to learn how to fill and sign the forms. The process involves submitting physical documents with a ₹500 fee to Zerodha's office and completing In-Person Verification. The conversion typically takes up to 7 working days, during which Kite access is temporarily suspended, though holdings remain viewable through CDSL Easi. A resident account can only be converted to an NRO account and not an NRE account. However, before starting the documentation, clients must ensure that their residential status is marked as non-resident on the ITD website, clear negative balances, close all open positions and withdraw any remaining funds before starting the conversion process.

What are the steps to convert a resident account to an NRI account?

The steps to convert a resident account to an NRI account are as follows:

• Pre-conversion requirements:
  • Clear all debit balances in your account.
  • Withdraw any existing credit balance.
  • Close all open positions.
  • Verify your name and signature match existing account records.
    
• Document preparation:
  • Download and fill out the required forms.
  • Gather supporting documents.
  • Ensure all signatures match your existing signature proof. 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.
• Initial submission:
  • Email all completed documents to [email protected] .
  • Wait for document review and feedback.
  • Make any corrections if requested.
    
• Complete In-Person Verification (IPV):
  • Visit signup.zerodha.com/ipv.
  • Note the 4-digit OTP shown on the screen.
  • Enable your camera.
  • Show the OTP while being clearly visible.
• Final submission:
  • Courier the documents and account opening fee of ₹500 (cheque payable to Zerodha Broking Limited) to Zerodha's Bangalore office:
    Zerodha Customer Support Centre,
    680, Fortuna 1, 15th Cross Road,
    8th Main Road, 2nd Phase, J. P. Nagar,
    Bengaluru, Karnataka, 560078
    

What are the documents required to convert a resident demat account to an NRI demat account?

If the KYC status is non-resident, there is no need to notarise the documents. If not, the documents must be notarised by the Indian embassy, authorised officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrates, judges, or the Indian embassy or consulate general 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 documents. To check the KYC status, create a ticket and mention the PAN and date of birth.

Equity F&O trading is not available by default with NRI accounts. F&O trading requires a Custodial Participant (CP) code with Zerodha partner, Orbis Financial Services for custodial services.

The table below shows the documents required to convert a resident account to a NRI account:

FATF Compliance (Blacklisted & Greylisted Countries)

• Blacklisted Countries: Per the Financial Action Task Force (FATF), NRI clients residing in blacklisted countries cannot open a Zerodha account.
• Greylisted Countries: Clients in greylisted countries may open an account only after Zerodha’s compliance team approves.