How to open a Zerodha NRI account

From WebNotes, a public knowledge base. Last updated 12 May 2026. Reading time ~10 min. Level: Intermediate.

Key facts

Time required	7-15 business days (physical form dispatch)
Documents needed	PAN, passport, overseas address proof, NRE/NRO bank details, PIS letter (if applicable)
Cost	Rs 500 account opening fee (NRI); higher brokerage than resident accounts

This guide explains how a non-resident Indian (NRI) can open a Zerodha NRI demat and trading account, covering both the Portfolio Investment Scheme (PIS) route through an NRE account and the non-PIS route through an NRO account.

Step-by-step procedure

Step 1: Choose PIS or non-PIS route

The first decision is which regulatory route to use for equity trading in India.

PIS route (NRE account): Trades in Indian equities on a repatriable basis flow through a Portfolio Investment Scheme (PIS) account. This requires prior RBI authorisation, obtained through a designated NRE bank. Zerodha supports PIS accounts linked to several partner banks. Repatriation of sale proceeds is permitted subject to FEMA 20(R) conditions.

Non-PIS route (NRO account): Trades funded from an NRO account do not require a PIS letter, but sale proceeds are credited to the NRO account and repatriation is subject to the USD 1 million annual limit under the Liberalised Remittance Scheme norms applicable to NRO accounts.

NRI accounts at Zerodha can only trade delivery-based equity (CNC). Intraday trading (MIS), futures and options, and currency derivatives are not permitted for NRI investors under current FEMA and SEBI regulations.

Step 2: Obtain a PIS permission letter (PIS route only)

If using the PIS route, approach the NRE-designated branch of a PIS-compliant bank (Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and others). Submit a written request for a PIS permission letter. The bank forwards the request to the Reserve Bank of India; the authorisation is typically returned within 5-10 business days. Zerodha requires the original PIS letter or a certified copy.

Non-PIS applicants skip this step entirely and proceed directly to Step 3.

Step 3: Download the NRI account opening kit

Navigate to zerodha.com/open-account/nri. Download the NRI account opening form set, which includes:

Account opening form (equities segment)
In-person verification (IPV) declaration
Annexure for PIS/non-PIS account details
FATCA and CRS self-certification form

Print each page on A4 paper. Do not fill forms digitally; physical signatures on each page are required.

Step 4: Fill the forms carefully

Complete every field in capital letters using blue or black ballpoint ink. Key fields to note:

Country of residence and tax residency: Fill accurately for FATCA compliance. Incomplete FATCA declarations cause the application to be rejected without notice.
Correspondence address: Use an overseas address if you will receive communications abroad, or a valid Indian address if you have one. Post is not forwarded internationally by Zerodha as a matter of policy.
Segment selection: Tick only “Equity” under the segment selection. Ticking F&O or intraday segments will not be processed for NRI accounts.
Bank account details: Provide the NRE account number (PIS route) or NRO account number (non-PIS route) along with the 11-character IFSC code.

Step 5: Self-attest and notarise documents

Prepare attested copies of:

Document	Note
PAN card	Self-attestation sufficient if applying from India
Passport (first and last page + visa page)	Notarised or consulate-attested if applying from abroad
Overseas address proof	Dated within 3 months; notarised or consulate-attested if abroad
PIS permission letter	Original or certified copy (PIS route only)
Cancelled cheque from NRE/NRO account	Account must be in applicant’s name
Recent photograph (passport size)	Affixed on the account opening form and self-signed across

Attestation by a notary public, Indian consulate, or Indian embassy is mandatory for documents originating overseas. The SEBI KYC circular (SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37, March 2023) specifies acceptable attestation authorities.

Step 6: Complete the in-person verification declaration

NRI applicants complete IPV by signing the IPV declaration in the account opening form. Zerodha does not require a video call for NRI applications; the physical signature alongside a photograph serves as IPV under the SEBI circular on KYC for NRIs.

Step 7: Courier the complete package to Zerodha

Assemble the signed forms and attested documents into a single envelope. Courier the package to:

Zerodha Broking Limited 153/154, 4th Cross, Judges Colony, J.P. Nagar 4th Phase, Bengaluru 560078, Karnataka, India

Use a trackable courier service (DHL, FedEx, Blue Dart, or Speed Post EMS for overseas shipments). Retain the tracking number. Zerodha does not accept applications dropped off in person.

Step 8: Pay the account opening fee

The NRI account opening fee is Rs 500 (subject to change; verify at zerodha.com before applying). Payment is made after Zerodha receives and verifies the physical forms. Zerodha sends a payment link by email; pay via UPI or net banking from an Indian bank account, or via the link from abroad.

Step 9: Track the application and receive credentials

Processing takes 5-7 business days after the physical forms are received. Track status by emailing nri@zerodha.com with the courier tracking number and applicant name. Once approved, Zerodha sends login credentials to the registered email address. Log in to Kite and complete any pending electronic steps such as setting the trading PIN.

What can go wrong

Missing notarisation: Documents from abroad that are self-attested only (without notary or consulate stamp) are returned without processing. Ensure every document copy bears the correct attestation.
PIS letter not matching the applicant name exactly: The name on the PIS letter must match the PAN and passport exactly, including middle names and initials. Any mismatch requires a fresh PIS letter from the bank.
FATCA form incomplete: Leaving the tax identification number or country of residence blank triggers a rejection. If the country of residence does not issue TINs, write “Not issued” in the field with a brief explanation.
NRO account not in sole name: Joint NRO accounts are not accepted. The account used for non-PIS trading must be in the applicant’s sole name.
Segment ticked incorrectly: Ticking intraday or F&O segments causes the form to be flagged. Resubmission requires a fresh signed form; the original set cannot be corrected in transit.

Zerodha NRI PIS account overview - How the RBI PIS route works for NRE-linked equity trading
Zerodha NRI non-PIS account overview - NRO-based equity investing without PIS authorisation
How to track Zerodha account opening status - Check where your application is in the pipeline
How to complete Zerodha KYC online - KYC steps relevant to the in-India portion of the process
How to verify PAN and Aadhaar e-sign with Zerodha - PAN verification details applicable to all account types
Non-resident Indian investor overview - Regulatory framework for NRI investing in India

References

SEBI Master Circular on KYC norms for foreign nationals and NRIs (SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/37, 23 March 2023).
Reserve Bank of India, FEMA Notification 20(R) - Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017.
Zerodha NRI account opening page: zerodha.com/open-account/nri (accessed May 2026).
SEBI Circular on Portfolio Investment Scheme for NRIs (SEBI/IMD/CIR No. 5/126096/08, 23 April 2008).
Reserve Bank of India, Notification on Liberalised Remittance Scheme, RBI/2015-16/11, 1 June 2015.

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 12 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.