Which documents set is required for opening NRI trading and demat account?

Documents required to open NRI account ID Proof – Copy of Permanent Account Number (PAN)/ Form 60 (in absence of PAN) Proof of NRI Status – Copy of valid visa/ work permit / Overseas Resident Card. Address Proof – The address on the document must be the same as the address mentioned in the application form.

Is PAN card is mandatory to open an NRI trading and demat account?

Yes, it is. You cannot open a demat account without a PAN card. The SEBI made PAN card mandatory for opening a demat account. Additionally, you have to submit a self-attested copy of your PAN card.

Can NRI hold Indian demat account?

Can NRIs Hold Shares in Demat Form? According to SEBI, both residents and NRIs (non-resident Indians) can possess a Demat account. NRIs cannot use a regular Demat account. They may opt for either a repatriable Demat account or a non-repatriable Demat account.

How many demat account NRI can open?

2 demat accounts
NRIs can have as many as NRI Demat Accounts as they want. In most cases, NRIs open 2 demat accounts (NRE and NRO Demat Account) for repatriable and non-repatriable transactions.

Is bank statement necessary for demat account?

Passport/Voters Identity Card/Ration Card/Registered Lease or Sale Agreement of Residence/Driving License/Flat Maintenance bill/Insurance Copy. Utility bills like Telephone Bill (only landline), Electricity bill or Gas bill – Not more than 3 months old. Bank Account Statement/Passbook – Not more than 3 months old.

How can I open a demat account without proof of income?

You can submit your Passport, Aadhar Card, Voter ID< Driver’s License, etc. as your address proof. To link your Demat account and your trading account, bank proof is required. Besides, if you purchase shares in a company that provides dividend interest, the amount will be credited to your bank account.

How can NRIs buy Indian stocks?

NRIs can invest in the Indian stock market directly under the Portfolio Investment Scheme (PINS) of RBI. NRIs are mandated to have an NRE/NRO bank account, a Demat account, and a trading account to invest in the Indian stock market.

Can NRI use normal demat account?

Can NRI use demat account in India? Yes, NRIs can open demat account in India. They would require a PIS (Portfolio Investment Scheme) approval from RBI. The PIS enables NRIs to buy and sell shares on the stock exchange in India.