What are the eligibility requirements for NRIs and PIOs to open a Firstock trading and demat account?
To be eligible for opening an NRI/PIO account with Firstock, applicants must:
- Be a Non-Resident Indian (NRI) or a Person of Indian Origin (PIO) with valid proof of status (e.g., passport and visa).
- Ensure PAN residential status is marked as “Non-resident” on the Income Tax Department (ITD) website. If this is not updated, you must follow the steps in Firstock’s PAN update guide.
- Complete KYC verification. If already verified as “Non-resident,” notarization of documents is not required. Otherwise, documents must be notarised by:
- Authorized overseas bank officials from Indian-registered scheduled commercial banks
- Public notaries
- Court magistrates or judges
- Indian Embassy or Consulate General
- The attestation must include an official stamp, name, designation, or employee code, signature, and date.
- Comply with FATF restrictions: NRIs in blacklisted countries are not eligible, and those in greylisted countries may require extra compliance checks.
