Can a minor with foreign citizenship open a Demat account with FYERS?
No, a minor with foreign citizenship cannot open a Demat account with FYERS. As per Indian regulatory requirements, Demat accounts can only be opened in the name of Indian citizens, including minors.
Eligibility limitations for foreign minors
To open a minor Demat account in India (including with FYERS), the following are mandatory:
- A valid Indian PAN card in the minor’s name
- Acceptable Indian address proof for both the minor and the guardian
Since minors with foreign citizenship typically do not hold an Indian PAN or Indian address proof, they do not meet the basic KYC requirements set by SEBI and depositories.
FYERS does not currently support account opening for minors classified as NRIs, OCIs, or foreign nationals, regardless of parental citizenship.
What If...
| Scenario | Outcome |
|---|
| The minor has foreign citizenship but resides in India | Not eligible unless the minor holds Indian citizenship and PAN |
| Parents are Indian citizens with valid FYERS accounts | Guardian eligibility is not sufficient; the minor must qualify independently |
| The minor obtains Indian citizenship later | A Demat account can be opened once valid PAN and address proof are available |
Last updated: 05 Aug 2025
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