How to Convert Angel One Account to NRI Account?

If you are a Non-Resident Indian (NRI), you cannot use regular resident Trading and Demat accounts for investment purposes. Firstly, it is necessary to close the residential trading account and then open an NRO Demat and Trading account. Once your NRE/NRO Demat account is confirmed, a second closure form is required to transfer all existing investments to the new NRI Demat account through a Delivery Instruction Slip (DIS).

Angel One offers offline account opening processes for its NRI clients. Here are the steps to open an NRI Trading and Demat account:

Step 1: Open a Portfolio Investment Scheme (PIS) account with a designated bank associated with Angel One, such as:

• Axis Bank Ltd.
• HDFC Bank Ltd.
• IDFC First Bank Ltd.
• IndusInd Bank Ltd.
• Yes Bank Ltd.

Step 2: Submit the following documents (duly filled and signed) for opening an NRI trading and Demat account:

• NRI Trading and Demat Account Opening Form (please refer to the sample form for guidance).
• Common Email and Phone Number Declaration Forms (applicable only to certain clients).
• NRO Investment Proof / NRE PIS approval letter from the respective bank.
• Proof of NRE / NRO savings bank account (cancelled personalized cheque and latest statement).
• Copy of PIO / OCI card, if the place of birth is not in India.
• Copy of Passport arrival page (if currently in India).
• Copy of PAN Card.
• Passport and Visa copies (photo page, address page, and recent arrival stamp page).

• Foreign address proof (choose one):
  • Passport
  • Driving License
  • Utility Bill (electricity, gas, or water bill – not older than 3 months).

• Original Bank Statement + Cancelled Cheque Leaf / Copy of Bank Statement duly attested by the bank officer with his name, branch, designation, signature, and banker stamp (not older than 3 months).

• Indian address proof (choose one):
  • Passport
  • Voter’s ID
  • Utility Bill (not older than 3 months).
  • Driving License
  • Original Bank Statement + Cancelled Cheque Leaf / Copy of Bank Statement duly attested by the bank officer with his name, branch, designation, signature, and banker stamp (not older than 3 months).
  • Valid Leave and License Agreement / Purchase Agreement.
  • Letter of Authority (required for accounts with Axis Bank – PIS & NON-PIS).

Step 3: NRI clients must fill up the NRI Trading and Demat Account Opening Form and email the scanned copy to hyd-kycnorth@angelbroking.com. Once confirmed by the respective team, a duly signed filled form along with the required supporting documents must be sent to Angel One’s Hyderabad Office at the address provided 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

For queries or to inquire about the status of your account opening form, contact hyd-kycnorth@angelbroking.com or support@angelbroking.com.

Step 4: In-person verification (IPV) is necessary for document verification:

• For clients outside India, all proofs must be duly attested by themselves and either by the Indian embassy/consulate general/overseas notary/overseas banker, certifying that they have been verified with originals.
• For clients in India, a self-attested arrival copy and IPV are required, authorized by the Sub-Broker or any nearby branch person of Angel One.

NRI PIS accounts enable non-resident investors to invest in stocks and convertible debentures.