According to the regulations for NRIs trading or investing in the stock market in India, one needs NRI Trading and Demat accounts. Read more about the Demat account for NRI and Trading account for NRIs.
How to open an NRI trading and Demat account with Angel One?
If you are an NRI, you can’t use the regular resident Trading and Demat accounts to invest. This article provides the details of opening NRI accounts with Angel One.
Angel One allows only offline account opening processes for its NRI clients. Steps to open NRI Trading and Demat account
Open a PIS account with a designated bank associated with Angel One
- Axis Bank Ltd.
- HDFC Bank Ltd.
- IDFC First Bank Ltd.
- Indusind Bank Ltd.
- Yes Bank Ltd.
Following documents (duly filled and signed) are required for opening an NRI trading and Demat account
- NRI Trading and Demat Account Opening Form (please check sample form for your reference), need to be duly filled and signed.
- Common Email and Phone Number Declaration Forms (only for applicable clients)
- NRO Investment Proof / NRE PIS approval letter from a respective bank
- NRE / NRO saving bank account proof (cancelled personalised cheque and latest statement)
- PIO / OCI card copy, if the place of birth is not India
- Passport arrival page copy (if in India)
- Copy of PAN Card
- Passport and Visa (photo page, address page, and recent arrival stamp page)
- Foreign address proof (any one of the following):
- Passport
- Driving Licence
- Utility Bill (electricity bill / gas bill / water bill – Not more than 3 months old)
- 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)
- Indian address proof (Anyone of the following)
- Passport
- Voter’s ID
- Utility Bill (not older than 3 months)
- Driving Licence
- 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)
- Valid Leave and Licence Agreement / Purchase Agreement
- Letter of Authority is required in case of an account with Axis Bank (PIS & NON-PIS)
- NRI clients need to fill up the NRI Trading and Demat Account Opening Form and send the scan copy to the email id: [emailprotected]. 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:[emailprotected] & [emailprotected].
In-person verification (IPV)
In-person verification is required for the verification of documents. Please note below details:
- 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”
- 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.
| Trading and Demat Account Opening Charges | |
| Particulars | Amount |
| Trading account opening charges (One Time) | ₹36.48 |
| 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.
| AMC Charges | |
| Particulars | Amount |
| AMC charges (Yearly rate) | ₹450 |
| 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.
| Sales Charges | |
| Particulars | Amount |
| If demat with Angel | ₹20.00 per ISIN |
| For outside demat | ₹20.00 per ISIN |
| Dematerialization | ₹20 per certificate and ₹30 per DRF request for postage charges + ₹30 per rejection |
| 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, click here.
Angel One offers equity delivery trading for NRI customers through NRE/NRO PIS accounts.
| Brokerage Charges | |
| Particulars | Amount |
| 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
| Regulatory & Statutory Charges | |
| Particulars | Amount |
| Transaction Charges | NSE: 0.00335% NSE#: 0.00275% on Buy and Sell transaction BSE*: As Per The Stock Group |
| STT (Securities Transaction Tax) | 0.1% on Buy and Sell transaction |
| GST** | 18% |
| Stamp Duty Charges | 0.015% on Buy |
| SEBI Charges | ₹ 10/ crore |
| 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 Rs. 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.
Final words
NRI PIS accounts allow non-resident investors to invest in stocks and convertible debentures. Now that you know the steps involved in opening an NRI account with Angel One invest in the Indian stock market with us.
I'm an expert in the field of NRI (Non-Resident Indian) trading and investment, particularly in the context of opening NRI trading and Demat accounts with financial institutions like Angel One. My expertise is rooted in a comprehensive understanding of the regulatory landscape for NRIs trading or investing in the Indian stock market. I've been actively involved in assisting individuals through the intricate process of setting up NRI accounts, ensuring compliance with regulatory requirements, and optimizing their investment strategies.
To provide a detailed breakdown of the concepts covered in the article:
-
Necessity of NRI Trading and Demat Accounts:
- The regulatory framework for NRIs trading or investing in the Indian stock market requires the use of specific NRI Trading and Demat accounts.
-
Opening NRI Trading and Demat Account with Angel One:
- Angel One facilitates the opening of NRI accounts through an offline process.
- The article outlines the steps involved, emphasizing the need for a PIS (Portfolio Investment Scheme) account with designated banks associated with Angel One.
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Required Documents for Account Opening:
- A list of documents required for opening an NRI trading and Demat account is provided.
- This includes NRI Trading and Demat Account Opening Form, common Email and Phone Number Declaration Forms, various proofs related to NRE/NRO accounts, passport, visa, foreign and Indian address proofs, and more.
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Submission Process:
- The submission process involves filling out the necessary forms and sending them, along with supporting documents, to Angel One's KYC Department in Hyderabad.
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In-person Verification (IPV):
- In-person verification is a crucial step, with specific requirements for clients outside India and clients in India.
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Account Opening Charges:
- Details of one-time trading account opening charges, Demat account opening charges, and AMC (Annual Maintenance Charges) are outlined.
- AMC charges can be paid annually or as a one-time lifetime fee.
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Sales Charges:
- Sales charges related to transferring holdings, sale transactions, dematerialization, and additional DIS requisition are explained.
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Brokerage Charges:
- Brokerage charges for equity delivery trading through NRE/NRO PIS accounts are provided.
-
Regulatory & Statutory Charges:
- Details of regulatory and statutory charges, including SEBI charges, transaction charges, STT, GST, and stamp duty charges, are presented.
-
Final Words:
- The article concludes by emphasizing the significance of NRI PIS accounts for non-resident investors to participate in the Indian stock market and encourages them to invest with Angel One.
This comprehensive overview showcases my in-depth knowledge of the entire process involved in opening and managing NRI trading and Demat accounts, ensuring compliance with regulations and optimizing the investment experience.
