Foreign National Account Opening at Zerodha: A Comprehensive Guide (2024)

Introduction

Navigating the process of opening a Foreign Portfolio Investment (FPI) account as a foreign national at Zerodha is crucial for seamless equity, Futures and Options (F&O), and CDS trading. This guide provides a step-by-step overview, ensuring a smooth experience.

Eligibility and Initial Steps

Foreign nationals with a PAN card can initiate the process through Zerodha's collaboration with Orbis, a SEBI-registered custodian. The first step involves creating a ticket for assistance in opening a custodial account with Orbis.

Required Documents

For Foreign National Individual Account:

1. Application Form:

   • Complete the account opening form (PDF).

2. FATCA Declaration:

   • Submit the Foreign Account Tax Compliance Act (FATCA) declaration (PDF) with the respective Tax Identification Number (TIN).

3. P.O. Box Declaration:

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   • Provide a declaration of the P.O. box in the country of residence (PDF).

4. FEMA Declaration:

   • Furnish the Foreign Exchange Management Act (FEMA) declaration form (PDF).

5. Supporting Documents:

   • Include a self-attested copy of the PAN card, FPI bank account bank statement, custodial demat account (FPI) CMR copy, CP allotment letter from the exchange, SEBI certificate, and one of the specified income proofs.

For Foreign National Corporate Account:

1. Application Form:

   • Complete the corporate account opening form (PDF).

2. FATCA Declaration:

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   • Submit the FATCA declaration (PDF) with the relevant Tax Identification Number (TIN).

3. Supporting Documents:

   • Provide a PAN copy of the company with the seal and signature, address proof in the company's name, individual PAN copies and address proofs of authorized signatories or directors, and other specified documents.

4. Account Opening Annexures:

   • Include board resolution, list of directors, latest shareholding pattern, and Annexure A.

5. Ultimate Beneficial Owner (UBO):

   • Submit the UBO annexure for individuals with significant shareholding.

In-Person Verification (IPV)

As part of the mandatory In-Person Verification, foreign nationals should complete IPV through webcam or physical verification for NRI joint accounts.

Submission Process

Once all documents are ready, email the soft copies to [emailprotected]. Following the review, courier the documents along with the required fee to Zerodha's address mentioned below.

Important Note

It's crucial to note that foreign nationals residing in blacklisted countries as per the FATF list cannot open an account with Zerodha. Those in greylisted countries can proceed after Zerodha's compliance team approval.

Conclusion

By following these meticulous steps and providing the required documents accurately, foreign nationals can anticipate the opening of their Zerodha account within 72 working hours. For specific queries or assistance, contact 080 4680 5727 or create a ticket.

Did you know? Residents of Nepal or Bhutan can open a resident account offline after obtaining an E-FRRO letter. More details can be found at .

To stay updated on the FATF list, visit .

In a nutshell, this comprehensive guide aims to empower foreign nationals in navigating the intricacies of opening a Zerodha account, ensuring a seamless and efficient process.