Can NRIs open a joint demat account with someone else at Firstock?
Yes, NRIs can open a joint demat account with Firstock. But the NRI must be the primary (first) holder of the account. A resident Indian can only be added as the second holder in such accounts.
Documents Required for First Holder (NRI)
The first holder must open either a PIS (Portfolio Investment Scheme) or a Non-PIS demat and trading account with Firstock. The documents required are:
- Self-attested PAN card
- Passport copy
- Visa copy
- Proof of Indian and overseas addresses
- Overseas bank account proof
- Indian bank account proof (linked to PIS, if applicable)
- FATCA declaration
Documents Required for the Second Holder in an NRI Joint Account
If the second holder is also an NRI, the documents depend on their KYC status.
If the second holder’s KYC status is unknown: share their PAN and Date of Birth with Firstock to verify their KYC status.
If KYC status is Non-Resident: Submit self-attested copies of:
- PAN card
- Proof of Indian and overseas addresses
- Passport
- Visa
- Indian and overseas bank proof
If KYC status is Resident: Submit notarised and self-attested copies of:
- PAN card
- Proof of Indian and overseas addresses
- Passport
- Visa
- Overseas ID proof
Important note:
All notarised documents must be signed by any of the following:
- An official at an overseas branch of a scheduled commercial bank (registered in India)
- A Public Notary
- A Court Magistrate or Judge
- The Indian Embassy or Consulate General in your country
