How to open Demat account for NRI?

NRI Investment
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NRI demat account can be opened both online and offline. You must either physically visit the DP office or download, complete, and courier all the necessary forms and documents to the DP address.

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A demat account is the first thing that is required to invest in the Indian stock market. Different groups of people have different opening procedures for demat accounts. Today, we’ll look at how NRIs can open demat accounts and the documents required for the same.

Documents required for opening NRI demat account

NRI must have the following documents in order to open a demat account:

  1. PAN card
  2. Overseas Address Proof such as Driving License, Bank Statement, and Lease/Rent Agreement.)
  3. Copy of the PIS (Portfolio Investment Scheme letter) obtained from your bank
  4. Copy of Indian address proof.
  5. Cancelled cheque of NRE or NRO account
  6. Passport size photographs

How to open Demat account for NRI?

NRI can open a demat account both online and offline. Here is the detailed procedure to do so in both ways.

Open NRI Demat account online

Step 1. First of all you must have the mentioned documents with you

Step 2. Attest the documents from your local bank or through the Indian Embassy in the country of residence

Step 3. Visit the DP website and download the NRI demat account opening form, self-declaration form, and other provided forms.

Step 4. Take printouts of all the forms and fill in all the required details.

Step 5. Attach all the forms along with the mentioned documents and courier them to the DP’s branch office.

Step 6. After successful submission and verification, your account will be opened within 2 or 3 days and you will be notified of any updates via both a phone call and your registered Gmail account.

Open NRI Demat account offline

Opening a demat account offline is very simple if you have all the necessary documents on hand. Because all you need to do is visit the DP branch and complete the NRI demat account opening form. You will be guided by the concerned members and assisted in successfully filling out and submitting the documentation.

Opening NRI Demat account

NRI demat account can be opened both online and offline. The procedure is generally followed by a detailed verification of the documents. So, before applying for the demat account, you must check the documents asked for by your DP.

However, there is a fee associated with opening an account; after your demat account has been successfully opened, you may be charged up to Rs 500.