How to open an account as an NRI?

How to open an account as an NRI?

For an NRI only
A Non-Resident Indian is allowed to open a Demat & Trading account with Swastika by obtaining a Portfolio Investment Scheme (PIS) permission letter from Reserve Bank of India (RBI). They also have to link their Non-Resident Ordinary (NRO) or Non-Resident External (NRE) savings bank account. However, an NRI not is permitted to trade in the currency or commodity market in India.

A PIS permission letter can only be provided after submitting the following documents-

1.  Copy of PIS permission letter

2. Copy of FEMA declaration 

3.  Copy of PAN card

4. Indian address proof, if any

5. Passport size photograph

6. Overseas address proof which can be-

  • Copy of Driving License

  • Foreign Passport

  • Utility Bills

  • Bank Statement (up to 2 months)

  • Notarized copy of rent agreement if any

  • Leave & License agreement

  • Sale Deed.

7. Copy of a valid passport, in case Indian. It should also contain the place of birth as India and also a Copy of Valid Visa;

8. In the case of Foreign Passport: Copy of Valid passport, Copy of PIO or OCI card.

9. Proof of Bank account (a cancelled cheque  of your NRE or NRO savings bank account)

10. Declaration of P.O. Box in your residing country; and

11.  FATCA Declaration Form

All the above documents should be sent to Swastika, printed and thoroughly filled.