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Account Opening

What is the procedure for a foreign national to open an account at Zerodha?

Foreign nationals can open a Foreign Portfolio Investment (FPI) account if they have a PAN card. Zerodha has tied up with Orbis, a Designated Depository Participant (DDP), to assist with getting the PAN. For assistance with getting a PAN, visit orbisfinancial.in/solutions/custody-services/foreign-investors/. Foreign nationals can trade in the equity, Futures and Options (F&O) and CDS segment.

If the foreign national or corporate holds a PAN card, a custodial account will be opened with Orbis, a SEBI-registered custodian. To open a custodial account, create a ticket, and Zerodha’s team will assist with the account opening process. To know more about Orbis, visit orbisfinancial.in/.

Once the custodial account is opened, a trading account can be opened with Zerodha by submitting the following documents:

Foreign national individual account

Application form

Account opening form (PDF).

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:

  • 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 oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/.

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

  • Self-attested copy of the PAN card.
  • Bank statement of the FPI bank account.
  • CMR copy of the custodial demat account (FPI).
  • CP allotment letter from exchange provided by the custodian.
  • SEBI certificate provided by the custodian.
  • Any one of the following income proof:
    • Bank statement or passbook for the last six months.
    • The latest salary slip.
    • Form 16 or Income Tax Return (ITR) acknowledgement.
    • Net worth certificate.
    • Statement of demat holdings.

Foreign national corporate account

Application form

Account opening form (PDF).

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:

  • 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 oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/.

Supporting documents

  • A PAN copy of the company with the seal and signature of the authorised signatory or director.
  • Address proof in the company's name with the seal and signature of the authorised signatory or director. The proof can be any one: certificate of incorporation, the latest month's transaction copy of bank statement, utility bill, MCA copy, or lease or rent agreement.
  • Self-attested individual PAN copies of all the authorised signatories or directors.
  • Self-attested individual address proof of all the authorised signatories or directors.
  • Individual KYC form (PDF) signed by all the directors. The director has to sign without the stamp on individual KYCs and supporting documents.
  • A copy of the incorporation certificate with the signature of the authorised signatory or director.
  • The Memorandum of Association (MOA) and the Articles of Association (AOA) of the company, with authorised signatory or director seal and signature on the first four pages of the MOA and AOA. If the director details are missing on the MOM and AOA, an additional FORM-32 or DIR-12 copy to be submitted.
  • A copy of the balance sheet of the latest two financial years of the company with the authorised signatory or director seal and signature. The balance sheet has to be submitted every financial year after the account is opened.
  • If the company is newly incorporated, then a net-worth certificate from the chartered accountant with UDIN- number specified and income tax declaration (PDF) on the company letterhead with authorised signatory or director seal and signature.
  • Bank statement of the FPI bank account.
  • CMR copy of the custodial demat account (FPI).
  • CP allotment letter from exchange provided by the custodian.
  • SEBI certificate provided by the custodian.
  • Any one of the following income proof:
    • Bank statement or passbook for the last six months.
    • Latest year audited profit and loss statement.
    • Latest year Income Tax Return (ITR) acknowledgement.
    • Net worth certificate.
    • Statement of demat holdings.

Account opening annexures

Ultimate Beneficial Owner (UBO)

An individual is identified as an ultimate beneficiary if they have shareholding, capital or profits of 25% or more in the company. They are required to submit the UBO annexure (PDF).

Supporting Documents

  • Self-attested copy of the PAN card.
  • Bank statement of the FPI bank account.
  • CMR copy of the custodial demat account (FPI).
  • CP allotment letter from exchange provided by the custodian.
  • SEBI certificate provided by the custodian.

In-person Verification (IPV)

As part of the mandatory In-Person Verification (IPV) requirement for all brokers, a webcam or physical verification is required for NRI joint accounts, the joint account holders should complete the IPV. See What is In-Person Verification (IPV), and why is it required?

Need help? Call on 080 4680 5727 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:

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

It can take up to 72 working hours to open the account.

Did you know? Foreign nationals living in blacklisted countries as per the FATF list cannot open an account with Zerodha. Foreign nationals living in greylisted countries can open an account only after Zerodha's compliance team approval. To learn more about the FATF list, visit fatf-gafi.org/en/countries/black-and-grey-lists.html

For any queries, create a ticket or write to [email protected].

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