HDFC Securities Vs Samco – Stock Brokers Comparison
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Not surewill confirm with compliance team and get back to you. Could you please check if one can request the PIS application form to be processed, when the applicant is outside India? I already have a demat account and of course need to open a PIS. Thanks for your help. Seems like account can be opened by just mailing notarized documents to some US address.
They will help you out. All the KYC doc should be verified by Embassy. What is the documentation required? And from which account they accept the funds? You must check with the mutual fund.
Apart from the certified true copy of the passport, an NRI investor should also provide a certified true copy of the overseas address and permanent address will also be required. The documents can be attested, by the Consulate office or overseas branches of scheduled commercial banks registered in India.
Also to open NRI demat account for trading one must visit the branch physically as the officer who is filling up the form has to specifically put a stamp in the form that person has visited physically. It is really surprising how complex it is to sort out this things. If anyone is interested please mail me his contact details on ambekarvinayatyahoodotcom so that i can forward to Online trading account hdfc bank who will get in touch with you.
I had stopped looking further and in the hindsight it was good decision considering the recent carnage, however opening one now would be great help. I got the same response as you got from HDFC, hence looking for other options. So we can open a new NRE account along with PIS being in the US go to a bank, which helps in this process and open a demat account with Zerodha or any convenient brokerage. Even placing orders on phone or email is smooth as well. But it appears they can do it. From your posts, I take it that online trading account hdfc bank is possible.
Can you pass me good contacts at Zerotha? If a person was a NRI and did transaction using his RI account for transaction, what are the steps to take to correct this mistake?
NRI has to open non repatriable non resident dematbank and trading account. Resident demat online trading account hdfc bank gets transferred to the new non resident demat account on filling a transfer cum account closure form. Resident account gets closed after that. Additionally PIS account has to be opened. All share online trading account hdfc bank and sales are routed through PIS account.
One can have as many PIS account as one needs but online trading account hdfc bank only online trading account hdfc bank bank. Each demat account has to be linked to separate PIS account. If you are applying from abroad, all your documents need to be attested by embassy or bank. Need to check with them which is the authority they accept. Very tedious and generally takes a long time.
This annexure is very important as the date you mention here is considered as the actual date of online trading account hdfc bank irrespective of the real purchase date as in the resident demat status. Starting is a big headache but should get streamlined with time. Brokerage is also higher compared to resident accounts. Hi Rajul, I contacted Zerodha through their support email I found on their website support zerodha. You can try that, they responded pretty quick. Though I understand the transaction charges would still apply based on the details I received from AXIS Bank, which is as below, but you should check with them if you already have a PIS account or a different situation.
I am thinking to start the account opening process in some time though I assume it will be time consuming. ZionViewmohdrehan1. I received below details from Zerodha about their process and list of documents required for trading account, if it helps.
Thanks for offering help Vinay. I have sent you email. It seems USA is into their restricted zone. I will check out Zerodha. Though getting PIS account itself seems a bottleneck at this point. ZionView Prabeesh Hi All, Can you answer below questions if you know the details. Bank account remains the same but resident status changes to non resident.
ZionViewmohdrehan1I received below details from Zerodha about their process and list of documents required for trading account, if it helps. ValuePickr Research Resources Basics.