I have a resident Trading and DEMAT account with Zerodha. Can I add a Non-Resident Individual(NRI) as a nominee for my account?
Yes, a resident individual can add an NRI as a nominee for their Trading and DEMAT account.
The below-mentioned cases are also possible.
- An NRI can be a nominee in an NRI DEMAT Account.
- A resident Indian can be a nominee in an NRI DEMAT Account.
Note: Clients can add up to 3 nominees in their DEMAT account. When nominating multiple people, the client has to denote the percentage of the asset they would like to nominate. Naturally, the sum total of all percentages has to be 100%.
If a client does not want to indicate a specific percentage in the case of multiple nominees, they can choose to Distribute Equally. In such a case, each of the nominees will get 33.33% or 50% depending on whether there are 3 or 2 nominees.
For the trading and commodity account, there’s no concept of multiple nominees. The client can nominate only one person for their trading and commodity account.
To know how to add a nominee, click here.