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If you are an NRI and want to invest in Indian stocks, you cannot use a regular resident Demat account. RBI and FEMA rules require NRIs to open a dedicated NRI Trading and Demat account. While the process involves a few extra steps, it becomes simple once you understand the documentation, bank setup, and charges involved.
Key Takeaways
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NRIs must open separate NRI Trading and Demat accounts, as resident accounts cannot be used.
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IPV is mandatory, and documentation for clients living overseas must be attested by an embassy or notary.
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Account opening, AMC, broking, and regulatory fees apply, with choices for annual or lifetime AMC.
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Angel One exclusively accepts offline NRI account openings through specified partner banks.
How to Open an NRI Trading and Demat Account With Angel One?
With Angel One, you can only use the offline account opening processes for NRI accounts. Steps to open an NRI Trading and Demat account are listed below:
Open a PIS account with a designated bank associated with Angel One
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Axis Bank Ltd.
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HDFC Bank Ltd.
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IDFC First Bank Ltd.
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Indusind Bank Ltd.
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Yes Bank Ltd.
Documents Required for Opening an NRI Trading and Demat Account
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NRI Trading and Demat Account Opening Form (please check sample form for your reference) needs to be duly filled and signed.
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Common Email and Phone Number Declaration Forms (only for applicable clients)
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NRO Investment Proof / NRE PIS approval letter from a respective bank
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NRE / NRO saving bank account proof (cancelled personalised cheque and latest statement)
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PIO / OCI card copy, if the place of birth is not India
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Passport arrival page copy (if in India)
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Copy of PAN Card
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Passport and Visa (photo page, address page, and recent arrival stamp page)
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Foreign address proof (any one of the following):
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Passport
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Driving Licence
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Utility Bill (electricity bill / gas bill / water bill – Not more than 3 months old)
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Original Bank Statement + Cancelled Cheque Leaf / Copy of Bank Statement duly attested by bank officer with his name, branch, designation, signature, and banker stamp (not older than 3 months)
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Indian address proof (Anyone of the following)
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Passport
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Voter’s ID
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Utility Bill (not older than 3 months)
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Driving Licence
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Original Bank Statement + Cancelled Cheque Leaf / Copy of Bank Statement duly attested by bank officer with his name, branch, designation, signature, and banker stamp (not older than 3 months)
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Valid Leave and Licence Agreement / Purchase Agreement
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Letter of Authority is required in case of an account with Axis Bank (PIS & NON-PIS)
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NRI clients need to fill up the NRI Trading and Demat Account Opening Form and send the scan copy to the email id: hyd-kycnorth@angelbroking.com. Once confirmed by the respective team, you need to send a duly signed filled form along with the required supporting documents to Angel One’s Hyderabad Office to open the Trading and Demat account at the address below.
Angel One KYC Department
Angel One Limited
Address: Osman Plaza 6-3-352,
2nd Floor, Road no – 1,Banjara Hills,
Hyderabad-500034
Telangana, India
In case of queries or to know the status of your account opening form, please mail us at:hyd-kycnorth@angelbroking.com & Support@angelbroking.com.
In-Person Verification (IPV)
In-person verification is required for the verification of documents. Please note below details:
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Client outside India - you need to give all proofs duly attested by yourself and either by the Indian embassy / consulate general / overseas notary / overseas banker to the effect that “They have been verified with originals”
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Client in India - A self-attested arrival copy and IPV required (Authorised by Sub-Broker or any nearby branch person of Angel One)
Trading and Demat Account Opening Charges
A small amount is charged to cover the underwriting expenses to open Trading and Demat accounts of NRI investors.
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Trading and Demat Account Opening Charges |
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Particulars |
Amount |
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Trading account opening charges (One Time) |
₹36.48 |
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Demat account opening |
₹450+ ₹50 - POA+applicable GST and education cess, approx comes to ₹500 |
AMC Charges
The broker charges the AMC fee to maintain the accounts and offer account-related services.
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AMC Charges |
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Particulars |
Amount |
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AMC charges (Yearly rate) |
₹450 |
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AMC charges (Lifetime) |
₹2950 |
Investors can pay AMC charges of ₹450 yearly or opt for a one-time lifetime fee of ₹2950. The other charges remain unchanged.
Sales Charges
Charges that a broker will charge its investors for transferring their holdings from one Demat to another or Sale of transaction or DIS requisition cost come under Sales charges.
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Sales Charges |
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Particulars |
Amount |
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If demat with Angel |
₹20.00 per ISIN |
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For outside demat |
₹20.00 per ISIN |
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Dematerialization |
₹20 per certificate and ₹30 per DRF request for postage charges + ₹30 per rejection |
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Additional DIS requisition |
₹25 per booklet |
*** Disclaimer - The above charges are excluding GST.
Brokerage Charges
Brokerage is a fee or commission that a broker charges for executing transactions and offering specialised services on behalf of clients. To learn the details of brokerage charge calculation.
Angel One offers equity delivery trading for NRI customers through NRE/NRO PIS accounts.
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Brokerage Charges |
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Particulars |
Amount |
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Equity Delivery Charges |
0.50% per executed order Or 0.05 per unit whichever is lower. |
Regulatory & Statutory Charges
SEBI charges on transactions made through Exchange
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Regulatory & Statutory Charges |
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Particulars |
Amount |
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Transaction Charges |
NSE: up to 0.03503%, depending on transaction BSE*: As Per The Stock Group |
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STT (Securities Transaction Tax) |
Up to 0.1% on Buy and Sell transactions |
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GST** |
18% |
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Stamp Duty Charges |
0.015% on Buy |
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SEBI Charges |
₹ 10/ crore |
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Clearing Charges |
₹0 |
Regulatory charges: SEBI collects fees for carrying out its responsibilities as a market regulator. The current rate of SEBI regulatory charge is ₹10+GST per crore or 0.0001 of the transaction value, whichever is lower.
Statutory charges: The government charges certain taxes for conducting trades in any segment, which investors must pay, besides the brokerage fees as per rules. The statutory charges include Securities/Commodities Transaction Tax (STT/CTT), GST, Stamp Duty, and Exchange Transaction Charges.
Also Read, What is STT Tax?
Final words
NRI PIS accounts allow non-resident investors to invest in stocks and convertible debentures. By carefully following the outlined documentation requirements, diligently completing the IPV process, and clearly understanding the associated fees, NRIs can confidently and compliantly begin their investment journey in the vibrant Indian equity market.
