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What documents are required to open a Zerodha account as an NRI?

Non-Resident Indian (NRI) Zerodha accounts can only be opened offline, unlike regular accounts. The documents required to open a Zerodha account as an NRI varies based on the type of NRI account. They are as follows:

  • Portfolio Investment Scheme (PIS) account: A PIS account requires a permission letter from the RBI to buy and sell shares in the Indian markets. The permission letter has to be through one of Zerodha's partner banks (HDFC, IndusInd, IDFC First, Axis, Yes bank). In this account, funds from both NRO (non-repatriable) and NRE (repatriable) bank accounts can be used for investing. To learn what NRO and NRE bank accounts are, see the difference between an NRE and NRO bank account?

  • Non-PIS account: A Non-PIS account does not require a permission letter from the RBI. In this account, funds only from an NRO bank (any NRO Bank) account can be invested. The Non-PIS account is recommended as it has fewer restrictions, lower costs, and a more effortless investing experience.

The documents required to open an NRI Zerodha account are:

Application form

NRI account opening form (PDF).

Demat Debit and Pledge Instruction (DDPI), (PDF) 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?

FATCA Declaration

Foreign Account Tax Compliance Act (FATCA) declaration (PDF). Tax Identification Number (TIN) must be filled in the FATCA declaration. The common TINs are as follows:

  • Canada: SIN
  • UK: UTR or NINO
  • Singapore: NRIC or FIN
  • Australia: TFN

TINs for other countries can be found by visiting

P.O. Box Declaration

Declaration of P.O. box of your country of residence (PDF).

FEMA Declaration

Foreign Exchange Management Act (FEMA) declaration form (PDF).

Supporting Documents

  • A passport-size photograph to affix and sign across on the account opening form.
  • Client details and declaration form (PDF).
  • Self-attested and notarised copy of the passport:
    • In case of an Indian passport, a valid passport with the place of birth as India and a valid visa.
    • In case of a foreign passport, a valid passport, visa and the PIO, OCI or resident card.
  • Self-attested and notarised copy of the PAN card.
  • Self-attested and notarised copy of the overseas address proof. The address proof can be any one of the following: Driving licence, foreign passport, utility bills, a bank statement, banker letter attested by the bank (on the bank's letterhead) (PDF) , rental agreement or lease or sale deed. Mariner’s declaration or certified copy of Continuous Discharge Certificate (CDC) in case of Merchant Navy NRIs.
  • Self-attested copy of the Indian address proof if available.
  • A cancelled cheque from the NRO or NRE bank account.
  • ID proof of the nominee if a nominee is being added. The proof can be any one of the following: Aadhaar, Voter’s ID or Driving licence.
  • A self-declaration (PDF) if there is a minor mismatch in the name between the supporting documents.
  • The latest immigration copy if the client is in India and submitting the documents to the Zerodha branch or if the notary is being done in India.

If the KYC status of the NRI is non-resident , there is no need to notarise the documents required for opening an account. If it is not, the documents need 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, public notaries, court magistrates, judges, or the Indian embassy 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. To check the KYC status, create a ticket by mentioning your 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 for custodial services, Orbis Financial Services. See Can a Non-resident Indian (NRI) trade in futures and options (FnO)?

Additional documentation if a PIS account is being opened:

Sample copy and signature guidelines

Check the NRI signed sample equity form (PDF). Refer to the signature guidelines (PDF) to sign all the forms.


As part of the mandatory In-Person Verification(IPV) requirement for all brokers, a Webcam or a physical verification is required. 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. After the forms are reviewed, courier the documents along with a cheque in favour of Zerodha Broking Limited for the following amount:

  • ₹500 towards Equity trading account opening charges.

Courier all the documents to the following address:

153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

It can take upto 72 working hours to open the account. To learn about the charges applicable for an NRI account, see What are the charges for NRI accounts at Zerodha?

The below table is an explanation of the differences between a PIS and a Non-PIS account:

PIS Non-PIS (recommended)
Investments can be made from both NRE and NRO bank accounts. Only NRO accounts are supported.
The NRE or NRO account should be with a partner bank: HDFC, IndusInd, IDFC First, Axis, or Yes. NRO account can be with any bank.
A PIS permission letter from RBI has to be obtained via the partner bank. A PIS permission letter from RBI is not required.
Funds from the bank account have to be transferred to the PIS first. The bank conveys this information to Zerodha, after which the funds become available in the trading account. This can take up to one working day. Funds for investing are transferred from the NRO account instantly to the trading account using net banking.
Brokerage is 0.5% or ₹200 per executed order, whichever is lower. Brokerage is 0.5% or ₹100 per executed order, whichever is lower.
Bank deducts and pays TDS on short-term capital gains (15%) and long-term capital gains (10% above ₹1,00,000 per year). Banks charge up to ₹300 per contract note (per day of trading). Zerodha handles TDS on the account. There are no additional charges for collecting and reporting TDS.
Banks charge an additional AMC (Annual Maintenance Charge) of up to ₹1,500 per year. Standard AMC of  ₹500+GST per year.
The global restrictions on maximum foreign or NRI shareholding in a company by RBI are applicable. For example, if HDFC Bank has hit the cap of maximum foreign shareholding, no new NRI PIS purchases will be allowed in the stock. No restrictions.
Direct mutual fund investments are not available. Direct mutual fund investments are available.
BTST (Buy Today Sell Tomorrow) is not available. BTST will be available soon.