What is the procedure for a foreign national to open an account at Zerodha?
The procedure for a foreign national or corporate to open a Foreign Portfolio Investment (FPI) account is as follows:
1. PAN card in the name of the foreign national or corporate.
A PAN card in the name of a foreign national or corporate is required. Zerodha has tied up with Orbis, a Designated Depository Participant (DDP), to help foreign nationals or corporates acquire a PAN card. Visit orbisfinancial.in/solutions/custody-services/foreign-investors/ to know more.
If a PAN card in the name of a foreign national or corporate is already held, a custodial account must be opened with Orbis.
2. Opening a custodial account.
Zerodha offers a custodial account in partnership with Orbis Financial, a SEBI registered custodian. In this setup, the funds are transferred to the custodian instead of transferring to the trading account, and the custodian, in turn, settles the trades with the clearing corporation.
To open a custodial account, please create a ticket, and Zerodha’s team will get in touch to assist with the account opening process. To know more about Orbis, visit orbisfinancial.in/.
3. Opening a trading account with Zerodha.
Once the custodial account is opened, a trading account must be opened with Zerodha. Submit the following self-attested documents to open a trading account:
- In case of a foreign national (individual) account:
- Account opening form (PDF) signed by the applicant from the F1 to F10 signature box. On the F1 box, affix a photograph and sign across it.
- Foreign Account Tax Compliance Act (FATCA) declaration form (PDF). Tax Identification Number (TIN) must be filled in the FATCA declaration. The common TINs are as follows:
- USA - SSN
- EIN or ITIN
- Canada – SIN
- UK - UTR or NINO
- Singapore - NRIC or FIN
- Australia - TFN.
- TINs for other countries can be found by visiting the OECD website.
- Submit tax identity proof if applicable.
- In case of a foreign corporate (non-individual) account:
- Account opening form and C-KYC (PDF) signed by of one of the authorized signatories, managing director, or managing partner along with the company’s seal.
- CMR copy of the custodial demat account (FPI).
- The PAN card copy of the company and of all the director(s). The PAN card copy of the company must be signed by all the authorized signatories, along with the company’s seal. Director(s) PAN copies must be self-attested.
- Address proof copy of the company and of all the director(s) – The address proof copy of the company must be signed by all the authorized signatories, along with the company’s seal. Director(s) address proof copies must be self-attested.
- Proof of bank account (FPI account) – Bank statement or letter from the bank.
- A copy of the balance sheet of the latest two financial years of the company with authorised signatory or director seal and signature. The balance sheet has to be submitted every financial year after the account is opened. The balance sheet should have the seal and signature of the authorized signatory on all the pages. A net worth certificate should be submitted if the company is newly incorporated.
- Certificate of Incorporation with the company’s seal.
- The Memorandum of Association (MOA) and the Articles of Association (AOA) of the company – The first 4 pages of the MOA and AOA should have the seal and signature of the authorized signatory of the company.
- FATCA declaration (PDF) signed by all the authorized signatories along with the company’s seal.
- Annexure (PDF) and board resolution (PDF) on company letterhead, signed by all the authorized signatories, along with the company’s seal.
- Individual KYC (PDF) form of each or all the directors.
- If an individual is a shareholder of the applicant, having more than 25% of the shareholding or capital or profits of the applicant, the individual should identify as an ultimate beneficiary and submit Annexure A (PDF).
- CP allotment letter from exchange provided by the custodian.
SEBI certificate provided by the custodian.
To know more about investing in Indian markets as a foreign national, please visit nseindia.com/int_invest/content/getting_started.
As part of the mandatory In-Person Verification (IPV) requirement for all brokers, a webcam or physical verification is required for FPI accounts. See What is In-Person Verification (IPV), and why is it required?
Need help? Please create a ticket or call 080 47192020 / 080 71175337 for further assistance.