We're proud to announce that RKSV has taken a giant leap forward and is now Upstox.
A lot of NRI’s invest in shares in India.
As per Reserve Bank of India (RBI) guidelines, NRIs who wish to invest in shares in India through a stock exchange need to approach the designated branch of any authorized dealer (bank)(Upstox currently offers the same with HDFC Bank, ICICI Bank and YES Bank) authorized. This is administered the PIS (Portfolio Investment Scheme) to open a NRE (Non Resident External) /NRO (Non Resident Ordinary) account under the scheme for routing Investments.
Following are the mandatory documents for opening PIS, Trading and Demat Account in order to trade as an NRI.
2.Valid Visa Copy
3.Pan Card (It is mandatory irrespective of residential status.)
4.Identity Proof (Pan card, Driving license, Voter card, Overseas Citizen of India card).
5.Overseas Address Proof.(Driving License,Bank Statement,Lease/Rent Agreement. Utility Bill)
6.Indian Address Proof (Optional for OCI/PIO).(Aadhar Card/Voter ID/Driving License/Bank Statement/Utility bill)
7.Photograph as per Account Opening Form requirement.
In case client does not visit the branch (Non Face to Face Case) to open these accounts then all photocopies of documents must be attested by the customer himself and must be attested by an Indian Embassy or by a Notary or by a banker Overseas.(This will be applicable for all the documents)
* Account opening form and above documents are mandatory to open PIS ,Trading and Demat Account.
** In case of Foreign Passport it need to be accompanied by OCI/PIO Card with matching passport number.