How can I open an NRI demat account with Firstock?
Steps to Open an NRI Demat Account
- Visit https://nri.firstock.in/, sign up, and complete the online account opening process.
- Our team will verify your application. If all the submitted documents are in order, your application will be approved.
- Once your application is approved, you will receive an email containing a ZIP file. Download the file, take a printout of the application form, and sign wherever required.
- Share a scanned copy of the signed application and supporting documents for verification. Once verified, courier the original signed documents to the address provided below.
- After we receive the physical documents, your account will be opened within 24 to 48 working hours, subject to successful verification.
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Courier Address :
Firstock Broking Pvt Ltd. #46, 1st Floor,
36th F Cross Road, 4th T Block, Jayanagar, Bangalore - 560041
What documents are required to open an NRO demat account with Firstock
Please note that all the below-mentioned documents must be attested/validated by any one of the following:
Notary Public in the country of residence
Court Magistrate or Judge in the country of residence
Indian Embassy/Consulate General in the country where the NRI/PIO resides
- Documents Required:
- PAN Card
- Address Proof – Foreign address proof and Indian address proof Passport
- Visa / Residence Permit
As per the Foreign Exchange Management Act (FEMA), 1999, a Non-Resident Indian (NRI) is an Indian citizen or a Person of Indian Origin (PIO) residing outside India for employment, business, or any other purpose indicating an intention to stay outside India for an uncertain period. Generally, an individual who spends less than 182 days in India during the preceding financial year is considered a Non-Resident Indian (NRI), subject to the applicable provisions of FEMA.
Yes, Non-Resident Indians (NRIs) can invest in shares or convertible debentures of Indian companies through stock exchanges
in India. This is done under the Portfolio Investment Scheme (PIS), which allows investments on both repatriation and non-
repatriation basis.
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Note: NRI must open a PIS account with a designated bank in India.
A Non-Repatriable (NRO) Demat account is designed for Non-Resident Indians (NRIs) who earn income in India, such as rent, dividends, or pensions, and want to invest those earnings in Indian securities.
You can link your NRO Savings Account with the NRO Demat account to start investing in India and conveniently manage your
Indian income and investments in one place.
A Repatriable Demat account, also known as an NRE (Non-Resident External) Demat account, allows NRIs to invest their foreign earnings in Indian securities and repatriate the proceeds abroad. This account is suitable for NRIs who wish to transfer funds and investment returns back to their overseas bank accounts.
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Key points:
- An NRE Demat account is fully repatriable, allowing transfer of sale proceeds and dividends (after taxes) to your overseas account.
- To use this facility, you must link your NRE Demat account with an NRE Savings Account and an NRE PIS (Portfolio Investment Scheme) account.
- You need to open a trading account with a SEBI-registered broker to invest in Indian stocks on a repatriable basis.
- Investments are made under the RBI’s Portfolio Investment Scheme (PIS) for NRIs.
No, it is not mandatory to provide a local (Indian) address when opening a Firstock account. However, please note the following:
At the time of client registration, client needs to provide its foreign address along with documentary proof of the same. If client so
desire it can keep its local address as correspondence address. In such scenario additionally they are required to provide
documentary evidence in support of local address also.