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Open an NRI Demat Account

Tap into India's growth potential from the UAE. Explore Stocks, ETFs, IPOs and Mutual Funds.

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Open NRI Demat Account at Upstox

4.4

Average App Rating

84%

Customer Satisfaction

Backed by

Backed by

Mr. Ratan Tata

Why open an NRI Demat account?

Everything you need to invest in India's booming markets, right from UAE or India.

BENEFITS

Free Account Opening

Free Account Opening

Start your investment journey in India with a free NRI Demat & Trading account! Enjoy zero fees and trade without upfront costs.

One Account for Everything

One Account for Everything

Invest in stocks, mutual funds, and IPOs, and trade futures and options from one compliant NRI Demat account.

Fully Digital Application

Fully Digital Application

Open your NRI account online from the UAE or India. Aadhaar users can do everything online, others must submit a form offline.

Easy Repatriation

Easy Repatriation

Transfer funds easily from your NRE account back to your country of residence, following all RBI guidelines.

SEBI Regulated & Secure

SEBI Regulated & Secure

Your funds are secure in your CDSL demat account. Trusted by top investors like Tiger Global and Ratan Tata.

Dedicated NRI Support

Dedicated NRI Support

24/7 NRI desk for priority support across time zones. Get help via chat, email, and phone in multiple languages.

How to open a NRI Demat Account?

Open your NRI account online in 3 simple steps. No branch visits, no courier of documents.

Fill NRI form

  • Enter your personal details and country of residence
  • Select your NRE or NRO account type based on your investment needs
  • The digital form is designed for a quick and intuitive experience.

Upload documents

  • Upload digital copies of your PAN card, passport, and overseas address proof.
  • Provide your NRE/NRO bank statement for linkage.
  • Our system initiates digital verification to review your application.

Verify and Complete

  • For Users in India, Complete your application instantly via Aadhaar-based eSign
  • For Users in UAE, Digitally notarize your documents and courier the set to our office

Track your status

Track your status directly in the app without tedious back and forth emails

Only 4 documents required!

Keep these documents handy before starting your account opening process.

PAN Card

PAN Card

Passport Copy

Passport Copy

Overseas Address Proof

Overseas Address Proof

NRE / NRO Bank Statement

NRE / NRO Bank Statement

Choose the right NRI account

Select based on where your investment funds come from and your repatriation needs.

NRE
Account

NRO
Account

Fund sourceForeign earnings & overseas incomeIncome earned in India (rent, pension, dividends)
RepatriationFully repatriableUp to USD 1 million/year
Tax on interestTax-free in IndiaTaxable in India
Invest in Stocks
Trade F&O
Invest in Mutual Funds
PIS LetterMandatoryNot required
Supported BanksHDFC Bank, Axis BankAny Indian Bank

Transparent pricing.
No hidden charges.

Clear, upfront fees for your NRI Demat & Trading account.

NRO Account

Non-Resident Ordinary

Account Opening

Free

Annual Maintenance (AMC)

₹350 + GST / year

Equity Delivery Brokerage

0.5% or ₹50

DDPI Charges

₹100 + GST

F&O Brokerage

₹50

Get started

NRE Account

Non-Resident External

Account Opening

Free

Annual Maintenance (AMC)

₹350 + GST / year

Equity Delivery Brokerage

0.5% or ₹200

DDPI Charges

₹100 + GST

F&O Brokerage

NA

Get started

FAQs

Who can open an NRI Demat account with Upstox?

Any Indian citizen residing outside India (NRI — Non-Resident Indian), Overseas Citizen of India (OCI), or Person of Indian Origin (PIO) can open a Demat and Trading account with Upstox. You must have a valid PAN card, an Indian passport, and an NRE or NRO bank account with an Indian bank.

What is the difference between an NRE and NRO account for investing?

NRE holds foreign earnings — fully repatriable, interest tax-free in India. NRO holds India-earned income (rent, pension, dividends) — repatriation capped at USD 1M/year, interest taxable. Both can be held simultaneously.

Can NRIs trade in Futures & Options (F&O) on Upstox?

Only NRO account holders can trade equity F&O. NRE holders cannot. Neither can trade Commodity or Currency Derivatives.

How long does NRI account activation take?

24–48 working hours after eSign or Video KYC and document submission. Login credentials sent via email on activation.

What are the charges for an NRI Demat account?

Account opening is completely free. There is zero brokerage on equity delivery trades. For intraday and F&O trades, a flat fee of ₹20 or 0.05% per order (whichever is lower) applies. No Annual Maintenance Charge (AMC) for the first year.

Can NRIs invest in Mutual Funds and IPOs?

Yes. Both NRE and NRO holders in UAE and India can invest in most Indian mutual funds and apply for IPOs. Platform flags eligibility before investing.

From which countries can NRIs open an account?

Currently UAE and India. More countries coming soon — register interest to get notified.

What tax does an NRI pay on stock market gains in India?

Subject to prevailing income tax rules and applicable DTAA between India and the country of residence. Consult a qualified tax advisor for personalised guidance.

Can I convert my resident Indian Demat account to NRI?

No direct conversion. Close existing resident account and open a fresh NRI Demat account. NRI support team will guide through the process.

What is a PIS letter and do I need one?

A PIS (Portfolio Investment Scheme) letter from an Indian bank permits NRE holders to trade on Indian exchanges. Mandatory for NRE accounts, not required for NRO. Apply via HDFC Bank or Axis Bank.

What is DDPI and why is it required?

DDPI (Demat Debit and Pledge Instruction) is a one-time SEBI-mandated authorisation to debit shares on sale. Aadhaar users sign digitally; UAE residents courier a physical form. One-time charge: ₹100 + GST.

How do I link my NRE or NRO bank account with Upstox?

Provide account number, IFSC, and cancelled cheque or 6-month statement during onboarding. Only this linked NRE/NRO account can be used for fund transfers. Can be updated later via the app.

Can NRIs start a SIP in mutual funds?

Yes, both NRE and NRO holders can set up SIP mandates. FATCA restrictions for USA/Canada NRIs don't apply to UAE or India-based NRIs. Platform shows fund eligibility upfront.

How do I repatriate funds from my NRI Demat account?

NRE: fully repatriable, proceeds credited to NRE bank account. NRO: up to USD 1M/year after taxes and CA certification. Upstox credits the linked bank account; bank handles the international transfer.

What happens to my NRI Demat account if I return to India permanently?

FEMA requires re-designation of NRE/NRO bank account to a resident savings account and Demat status update. Existing holdings are unaffected. Upstox support team guides through re-designation.

Can I add a nominee to my NRI Demat account?

Yes, up to 3 nominees (residents or NRIs) can be added during onboarding or later via the app. Nominees can claim securities via CDSL transmission process. Strongly recommended.