How to open an account as an NRI?
For an NRI only
A Non-Resident
Indian (NRI) is allowed to open a Demat and Trading account with Swastika by
obtaining a Portfolio Investment Scheme (PIS) permission letter from the
Reserve Bank of India (RBI). They must also link their Non-Resident Ordinary
(NRO) or Non-Resident External (NRE) savings bank account. However, NRIs are
not permitted to trade in the currency or commodity markets in India.
1. Copy of the PIS permission letter
2. Copy of the FEMA declaration
3. Copy of the PAN card
4. Indian address proof, if available
5. Passport-sized photograph
6. Overseas address proof, which can include:
o Copy of the driving license
o Foreign passport
o Utility bills
o Bank statement (up to 2 months old)
o Notarized copy of the rent agreement, if applicable
o Leave and license agreement
o Sale deed
7. Copy of a valid passport, if Indian, showing India as the place of birth, along with a copy of a valid visa
8. For foreign passports: Copy of valid passport and copy of PIO or OCI card
9. Proof of bank account (a canceled cheque from your NRE or NRO savings bank account)
10. Declaration of P.O. Box in your country of residence
11. FATCA Declaration Form
All the above documents should be printed, thoroughly filled out, and
sent to Swastika.
Related Articles
What are the documents required to open a demat & trading account with Swastika?
For Indian resident individuals Now you can easily open your account faster and more conveniently with a document-less eKYC process. No need to upload PAN or Aadhar No need to manually enter account number and IFSC No need to upload a bank statement ...What are the documents required to open a corporate demat account with Swastika?
For Corporates only Documents required to open demat accounts (corporate) are: Any Limited Company falls under this category. Duly filled KYC forms of each holder. Duly filled demat account(corporate) opening forms signed across the photograph of ...I already have a demat account. Do I still need to submit my documents?
Since you already have a Demat account, you do not need to resubmit your documents. You are likely KRA validated, as KRA (Know Your Client Registration Agency) handles KYC registration. Please provide us with your PAN so we can verify your KRA ...Can I open Joint Demat account with Swastika?
Yes, it is possible to open a joint Demat account with Swastika, with a maximum of three holders. The trading account will be registered in the name of the first holder, and all communication will be sent to the first holder only. A maximum of three ...I already have a Demat Account. Can I only open a Trading account with you?
Yes, you can easily open a trading account with Swastika by linking your existing demat account. However, we recommend opening a new DEMAT account with Swastika to ensure a seamless and paperless online investment experience. If you use a demat ...