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Account Opening

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

  • OCI Cardholders: OCI cardholders are not eligible to open a Foreign Portfolio Investment (FPI) account. However, they can open an NRI account with Zerodha.
  • Residents of Nepal or Bhutan: Offline resident accounts may be opened upon receiving an e-FRRO letter. Details can be found at Indian FRRO eServices.

Foreign nationals may open a Foreign Portfolio Investment (FPI) account provided they have a PAN card. Zerodha has partnered with Orbis, a Designated Depository Participant (DDP), to assist with getting a PAN. Foreign nationals can trade in the equity, Futures and Options (F&O), and CDS segments.

If the foreign national or corporation holds a PAN card, a custodial account will be opened with Orbis. To open a custodial account, create a ticket, and Zerodha will assist with the account opening process.

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

Table of contents

Foreign national individual account

The table below shows the documents required to open a foreign national individual account:

Type of document Requirements
Application form
Foreign Account Tax Compliance Act (FATCA) declaration
Foreign Exchange Management Act (FEMA) declaration
P.O. Box declaration
PAN
  • Self-attested copy of the PAN card.
Address proof
  • Self-attested and notarised copy of proof of overseas address in English. The address proof can be any of the following:
    • Driving licence
    • Foreign passport
    • Utility bills
    • Bank statement
    • Rental agreement, lease or sale deed
Bank account proof
  • Self-attested bank statement of the FPI bank account.
Income proof
  • Any one of the following self-attested income proof:
    • A Bank statement with the bank logo and seal in the name of the Zerodha account holder for the last six months.
    • Latest salary slip.
    • Latest ITR acknowledgement.
    • Latest Form 16.
    • Certificate of net worth.
    • Latest statement of demat holdings
CP allotment letter from the exchange
  • Provide a copy of the CP allotment letter from the exchange.
Client Master Report (CMR)
  • Provide a copy of the custodian demat account CMR.
SEBI certificate
  • Provide a copy of the SEBI certificate.

Foreign national corporate account

The table below shows the documents required to open a foreign national corporate account:

Type of document Requirements
Application form
Foreign Account Tax Compliance Act (FATCA) declaration
PAN
  • A PAN copy of the company with the seal and signature of the authorised signatory or director.
  • Self-attested individual PAN copies of all the authorised signatories or directors.
Address proof
  • Address proof in the company's name with the seal and signature of the authorised signatory or director. The proof can be anyone:
    • Certificate of incorporation
    • The latest month's transaction copy of the bank statement
    • Utility bill
    • Ministry of Corporate Affairs (MCA) registration copy
    • Lease or rent agreement
  • Self-attested individual address proof of all the authorised signatories or directors. The address proof can be any of the following:
    • Driving licence
    • Foreign passport
    • Utility bills
    • Bank statement
    • Rental agreement, lease or sale deed
Individual KYC form
  • Each authorised signatory or director must sign an individual KYC form (PDF). The director must sign without the stamp on the individual KYCs and the supporting documents.
    Sample copy (PDF).
Certificate of incorporation
  • A copy of the certificate of incorporation with the company seal and signature of the authorised signatory or director.
Memorandum of Association (MOA)
  • The company's Memorandum of Association (MOA), with authorised signatory or director seal and signature on the first 4 pages. If the director details are missing, an additional FORM-32 or DIR-12 copy must be submitted.
Articles of Association (AOA)
  • The Articles of Association (AOA) of the company, with authorised signatory or director seal and signature on the first 4 pages. If the director details are missing, an additional FORM-32 or DIR-12 copy must be submitted.
Balance sheet
  • A copy of the latest two financial years' balance sheet with the seal and signature of the authorised signatory or director must be submitted every financial year after the account is opened. The balance sheet must be attested by a Chartered Accountant (CA) and have the CA's name, CA company name, member registration number (M.NO), UDIN, date, and city. The balance sheet must be attested by a CA and have the CA's name, CA company name, member registration number (M.NO), UDIN, date, and city.
    Sample balance sheet (PDF).
Net-worth certificate
  • If the company is newly incorporated, a net-worth certificate from a Chartered Accountant (CA) must be provided. It must also have the UDIN number. An income tax declaration (PDF) on company letterhead with an authorised signatory or director's seal and signature.
Account opening annexures
Bank account proof
  • Bank statement of the FPI bank account signed by the authorised signatories with the company seal.
Income proof
  • Any one of the following self-attested income proof:
    • A Bank statement with the bank logo and seal in the name of the Zerodha account holder for the last six months.
    • Latest ITR acknowledgement.
    • Certificate of net worth.
    • Latest statement of demat holdings.
CP allotment letter from the exchange
  • Provide a copy of the CP allotment letter from the exchange.
Client Master Report (CMR)
  • Provide a copy of the custodian demat account CMR.
SEBI certificate
  • Provide a copy of the SEBI certificate.

Ultimate Beneficial Owner (UBO)

An individual is identified as an ultimate beneficiary if they have shareholding, capital or profits of 10% or more in the company. They are required to submit the UBO annexure (PDF).
If an entity has more than 10% of the shareholding, capital or profits in the company. The entity should identify as an ultimate beneficiary and is required to submit the following documents:

  • A copy of the UBO annexure (PDF) with the authorised person's seal and signature and signatures of all the shareholders of such an entity holding 10% or more on the 3rd page.
  • A copy of the PAN and address proof with self-attestation of all the shareholders of such an entity holding 10% or more.
  • The latest shareholding pattern (PDF) (on the company letterhead) of such an entity holding 10% or more, with the signature of the whole-time director or individual promoters.

In-Person Verification (IPV)

In-Person verification (IPV) is the process of verifying that the person opening the account and the documents submitted are of the same person. As part of the mandatory IPV requirement for all brokers, the authorised person must complete the verification.

To complete the IPV online, visit signup.zerodha.com/ipv. A 4-digit OTP is generated and shown on the screen. Clients are required to enable the camera and show the OTP while being clearly visible.

To complete the IPV offline, the authorised person must visit a Zerodha branch office or a representative of Zerodha would be required to visit the offices or residences of the client to complete the IPV procedure.

The account opening charge is ₹500. Once all documents are ready, email the soft copies to [email protected]. The forms will undergo review for any necessary corrections. Upon completing the review process, courier the documents and a cheque of ₹500 in favour of Zerodha Broking Limited to:

Zerodha Customer Support Centre,
680, Fortuna 1, 15th Cross Road,
8th Main Road, 2nd Phase, J. P. Nagar,
Bengaluru, Karnataka, 560078

It can take upto 72 working hours to open the account. To learn about the applicable charges, see What are the account opening, brokerage and other transactional charges applicable to a Corporate account at Zerodha? For further assistance, call 080 4680 5727 or create a ticket.

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's approval.

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