How can an NRI open a Zerodha account?

NRI Investment
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You are required to fill up and submit a number of forms and documents via post to open a Zerodha account as an NRI. Continue reading and be informed.

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Zerodha Account

A Non-resident Indian status is given to a citizen of India who has stayed 365 days or more abroad in the previous four financial years or 60 days straight or more abroad in the current financial year. This person should have stayed in India for less than 182 days in the previous financial year.

Zerodha is the number one trading platform in India. You can trade in shares, bonds, currencies, commodities, mutual funds, ETFs etc., within a Zerodha account. They are well known for their trading and research tools. They are technologically advanced, have a user-friendly interface and are cost competitive.

In this article, let’s explore if and how an NRI can open a Zerodha Demat and Trading account.

Types of Accounts for NRIs

The NRIs can open and invest in two types of accounts:

  1. Portfolio Investment Scheme, shortly known as PIS. To open this account, you need a permission letter from RBI and any one of Zerodha’s banking partners. You can start this account with wither your NRO bank account or NRE bank account.

  2. Non-PIS account does not need any permission from RBI or other institutions and you can start it using only a NRO bank account.

How can an NRI can open a Zerodha account?

Step 1:

You must first download and fill up the following forms:

NRI account opening form

Declaration of your address

FATCA declaration form

FEMA declaration form

Client details and declaration form

Step 2

You must validate the details given in the above forms by submitting the following identification proofs:

  • Copy of Passport and Visa
  • Pan Card
  • Overseas address proof
  • Indian address proof
  • Passport size photograph
  • Canceled cheque of your NRE or NRO account
  • Nominee details
  • ID proof of Nominee

Step 3

You must post all the above-mentioned documents to Zerodha office address in Bengaluru. Your account will get activated in 24 to 48 hours.

Zerodha Accounts for NRI

Zerodha is open to NRIs, however, one cannot open an account online, just like an Indian resident does. In case of further queries, you may contact NRI held desk of Zerodha: +91-080 4719 2020 also.

Wish to open an account with one of the best discount brokers in India? Open a Demat and Trading Account with Zerodha and grow your investments.