Introducing NRI Accounts!
Introducing NRI Accounts!

We're delighted to announce that NRI trading & investing services are now live at FYERS! It has been a long time coming, as many inquiries for NRI accounts have piled up over the last year. However, we put the launch on hold to pay close attention to the compliances and resolve operational challenges for NRIs around the world.

The Indian stock market has been on a tear in recent times. The Nifty delivered 60% returns in the last five years, and many stocks have become multi-baggers. As so much potential is yet to be unearthed, many NRIs residing abroad are coming to Invest in India. To help NRIs invest in India, we have a dedicated NRI desk to cater to Non-Resident Indians to trade and invest through FYERS.

Who is an NRI?

An NRI is an Indian Citizen or a person of Indian Origin who has resided outside India for more than 182 days.

How can I open an NRI bank account?

You can open an NRI bank account in any bank with the facility authorized by RBI. However, if you wish to open a PIS account (refer to this article), you're required to open an account in either of the banks listed below:

  1. HDFC Bank
  2. Axis Bank
  3. Yes Bank

For Non-PIS accounts, an NRI can link any NRO Bank account with Fyers.

What are the documents required to open an NRI Demat account?

The documents you're required to submit to open an NRI Demat account are a copy of your passport, employment visa, or work permit (as applicable) and address proof (both India and residing country's address proof). In addition, a Portfolio Investment Scheme letter (as applicable), PAN card, photographs, and bank accounts are to be submitted along with the account opening form. These requirements are subject to change with regulations. For the latest details, refer to this article.

How much time will it take to open an NRI Demat Account?

Once the documents are received, The NRI Demat account will be opened within 3 working days for both PIS and Non-PIS, provided the documents submitted are accurate. 

Note: In the case of a PIS account, if the NRI does not have the PIS letter, it will take an additional 15 Days to get the PIS letter.

What are the charges for opening the NRI account?

You can open your NRI Demat for free at FYERS. The Demat Account Maintenance Charges (AMC) are also Zero. To learn more about the brokerage & other charges, click here.

Can an NRI trade in the F&O segment?

You can trade in the F&O segment if you link your NRO Bank account with us. Along with the NRO bank account, the Custodian Participant (CP) code is mandatory as per regulatory guidelines. A custodian is an entity that clears and settles the F&O trades on behalf of NRI traders. We've tied up with "Orbis Financial Corporation Limited" for custodial services. So, NRI traders/investors must get a CP code with Orbis to trade in the F&O segment at Fyers. You can invest in Equity and trade in the F&O segment using your NRO bank account. For more details, kindly refer to this article.

What is Repatriation?

Repatriation is the ability to move funds from a foreign country to India or vice-versa. In simple words, if you've linked the repatriable bank account with your Demat account, you'll be able to withdraw the funds in foreign currency. However, if you've linked the non-repatriable bank account, you won't be able to withdraw the funds in foreign currency.

For the library of FAQs on the NRI Demat Account, click here.


Over the years, we've received increasing interest from the NRI trading & investing community. Despite their patience and persistent follow-up with us, we had to postpone it due to the excessive regulatory requirements. Now, we're very excited to have finally launched NRI services and offer our platforms to all Indian citizens residing abroad and looking for a reliable way to invest in the Indian stock markets. We're committed to serving your trading & investing needs for years to come!


To initiate the NRI Demat Opening, click here.