How to open an NRO non-PIS account?
NRIs can now acquire and hold, on a non-repatriation basis: equity shares, convertible preference shares, convertible debenture, warrants, or units that will be considered domestic investments at par with investments made by residents using their NRO accounts.
- No requirement of PIS to trade through this route, thereby saving reporting & other costs levied by banks.
- Trading experience will be similar to that of a standard resident account.NRIs investing via the NRO-non PIS route can invest without any limits.
- No restriction on the NRO bank account that can be linked (not only those accounts Zerodha has partnered with, but any bank can be mapped).
- Brokerage of 0.5% or Rs 100 per executed order (whichever is lower).
- Investing in mutual funds is free at Zerodha and can be made across all Asset Management Companies (AMCs) and all funds. (Except for NRIs who are tax residents of the US and Canada)
To open an account create a ticket below and our team will reach out to assist. Documents required to open an NRI Trading and Demat account are:
- Account opening form
- PAN - one copy (Attested by a Competent Authority*)
- Passport - one copy (Attested by Competent Authority*) (In the case of an Indian passport: a copy of the valid passport with the place of birth as India and a copy of the valid visa.)
- NRO Cancel cheque -1 leaf (In case of non-availability you can provide a bank statement of the NRO account)
- Foreign address proof - 1 copy (Attested by a Competent Authority*)(In the case of Merchant Navy NRI’s, Mariner’s declaration or certified copy of Continuous Discharge Certificate (CDC) is to be submitted.)
- Indian address proof - 1 copy (Attested by Competent Authority*)
- FEMA declaration - 1 copy.
/CRS declaration- 1 copy.
Tax Identification Number (TIN) must be filled in the FATCA declaration. The common TIN's are as follows: For USA - SSN, EIN or ITIN, for Canada – SIN, for UK - UTR or NINO, for Singapore - NRIC or FIN, for Australia - TFN. TIN's for other countries can be found by visiting the OECD website. Submit tax identity proof if applicable.
- Client Details form - 1 copy (to confirm the details filled)
- Nominee ID proof - 1 copy (In case you have added a nominee)
*You have to self-attest all the documents mentioned above.
*Competent Authority: Indian Embassy/Consulate General/Notary Public/Any Court/Magistrate/Judge/Local Banker in the country where the NRI resides. The attesting authority should affix a "verified with original" stamp, name, designation, signature and date on the said documents. If you are KYC verified as an NRI (you hold/held an NRE/NRO trading account earlier), there is no requirement of these attestations.
- NRI can trade only delivery based.
- No intraday/BTST trading on equity/stocks allowed.
- No currency or commodity trading allowed.
- Equity F&O through a CP (custodial participant) code.
- If you already have an NRO account with us, using the PIS mode and wish to convert it to NRO non-PIS account you can write to us at [email protected]
- Under the NRO account type, you can opt to trade in only one segment i.e either equity delivery or FNO and not both.
If you create a ticket, please make sure you include a mobile number for us to reach you.