What is the documentation process for NRIs and PIOs to open a Firstock account?
The documentation process is offline and includes the following steps:
Application Process
- Contact Firstock’s sales team at sales@firstock.in or call 080-46702020 to request the NRI account application form.
- Fill the form, scan it, and send it via email for preliminary verification.
- Upon verification, print the final application, attach all self-attested and notarised documents (if KYC has not been verified), and courier them to Firstock.
Required Documents (Vary by Account Type)
- Application Form
- Demat Debit and Pledge Instruction (DDPI)
- FATCA Declaration
- FEMA Declaration
- NRI Client Details Form
- Passport (Indian or foreign with valid visa, OCI/PIO/resident card)
- PAN Card
- Address Proof (Indian and overseas; notarised if needed)
- NRO Bank Proof (cancelled cheque or bank statement)
- Income Proof (six-month bank statement, salary slip, Form 16, ITR, etc.)
For PIS accounts, an RBI PIS permission letter from a partner bank ( HDFC Bank) is also required.
IPV (In-Person Verification)
- Must be done via video call (WhatsApp, BOTIM, Google Meet) or physically at a Firstock.
- Each account holder (for joint accounts, too) must complete IPV using their own KYC-registered mobile number.
Processing Time
Account activation may take 4-5 working days post-document verification.
