NRI Demat and Trading Account

Benefits of Opening An
NRI Account with Religare Broking

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Frequently asked questions

A demat account, short for “dematerialized account,” is like a digital vault for your stocks and securities. It holds them in electronic form instead of physical certificates. It makes buying, selling and transferring shares easier in the stock market, eliminating the need for paperwork. It is where your investments are stored and managed electronically. A trading account helps you in buying/selling of these securities.

What is the difference between an NRE and NRO bank accounts?

NRIs can open NRE and NRO bank accounts in India. The differences between an NRE and NRO bank accounts are as follows:

Acronym	NRE is Non Resident External Account	NRO is Non Resident Ordinary Account
What is NRE/NRO?	NRE account is used to transfer an NRI’s foreign earnings to India.	NRO account helps an NRI to manage his/her income earned in India
Taxation	The interest paid by bank is tax-free.	The interest earned is taxable.
Repatriability	Balances are fully repatriable	Repatriation is as per certain limits and conditions.
Deposits & Withdrawals	The deposits can be made in any foreign currency, but withdrawals are allowed only in INR.	The deposits are made in any currency including INR, but withdrawals are in INR.

What is a PIS account? Where can I open it and get PIS letter?

A Portfolio Investment Scheme (PIS) account is a bank account that allows Non-Resident Indians (NRIs) to buy and sell shares and convertible debentures of Listed Indian companies on recognized stock exchanges on repatriable basis.

NRIs can get the PIS letter with the help of the bank where the NRE or NRO account is opened. RBI has authorised only designated branches of a bank to administer the PIS.

To open a Religare NRI demat & trading Account, NRIs must open a PIS account with any one of the following banks: Axis Bank, HDFC Bank, ICICI bank, IndusInd bank, Kotak Mahindra Bank and Yes Bank.

Who can open an NRI demat & trading account with Religare Broking Ltd?

An NRI, PIO or OCI, mariner/seafarer can open an NRI Demat & Trading Account permitting Investment in Indian Securities and trading on Indian Stock Exchanges.

What documents are required for opening Religare NRI demat & trading account?

To open a Religare NRI demat & trading account, you need following:
● Valid Indian or overseas passport
● Visa/ PIO or OCI card/ place of birth is India on foreign passport
● Operative pan card
● Overseas address proof
● TIN/FATCA proof
● Photo
● Proof of NRE/NRO savings bank A/C
● PIS Letter

Which all accounts are required to be opened by NRIs to trade in India?

NRIs need the following accounts to trade in India:

nre-nro-bank-ac

What is the process for opening Religare demat & trading account?

Fill up the account opening form. (https://www.religareonline.com/wp-content/uploads/2024/09/AOF-01-09-2024.zip)
In case you are in India, you may visit any of our branches with documents. Our team will assist you throughout in the account opening journey.
In case you are in a foreign country, all KYC documents should be self-attested by you and also attested by any one of the following in the country of residence and courier the filled and attested documents to us for opening your account.

-> Notary public -> Branches of overseas banks -> Court Magistrate -> Judge -> Indian Embassy/Consulate General of India

What are the acceptable documents for address proof?

To apply for NRI demat & trading account, submitting proof of overseas address is mandatory. Indian address proof is required if Indian address is shared for correspondence.

INDIAN ADDRESS	OVERSEAS ADDRESS
Passport with Indian address	Passport with overseas address
Voter ID card	Government issued ID card with overseas address/ OCI card
Driving license with Indian address	Driving license with overseas address
Aadhar (with masking & consent letter)	Utility bill, not more than 2 months old
NREGA job card	Bank statement (not more than 2 months old) or passbook of any Indian Bank NRE/NRO account with overseas address

Can NRI invest in Futures & Options Segment of Stock Exchanges?

Yes, NRIs are allowed to invest in futures & options segment of the exchange out of Rupee funds held in India on non repatriation basis, subject to the limits prescribed by SEBI

NRIs can trade in F&O through Religare NRO Trading account. To trade in F&O, NRIs need to open a custodial account and obtain a custodial participant (CP) code. Religare has partnered with Orbis to help NRI clients obtain a CP code.