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NRIs can open a Trading and Demat account in India. For this, they need to submit the application and complete the paperwork. With recent changes from SEBI, NRI can open the Non-PIS NRO account. With a non-PIS account, 50% of documentation requirements are reduced.
Brokers like ProStocks is offering an online NRI account (NO-PIS NRO trading and Demat). If you are KRA and IPV compliant, you can sign your application online with a digital signature or sign digitally based on Adhaar OTP.
With the above said, NRIs can open online Trading and Demat account with Prostocks. NRIs can trade in Equity Delivery, Equity Futures and Equity Options without PIS account. To open Non-PIS NRO Demat and Trading account, you need NRO Non-PIS Bank Account. This account can be open with any nationalized bank in India (approx 125 Banks) and it is a very easy process. Prostocks as a broker can help you open this account if required.
To open an NRI account, the application process is completely online and can be filled in 20 mins. The last step is signing the application online or offline.
So clients who are KRA and IPV compliant can sign PDF digitally. Few documents like Nomination Form and POA documents need to submit in physical format can be courier to the broker’s office.
Those who are not KRA and IPV compliant, need to print the PDF application and do require client signature and witness. You need to notarize/attest your document.
Advantages of Non-PIS NRO Account
For more details, please visit page - ProStocks NON-PIS NRO Account page.
Zerodha Trade@20
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