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
Related Articles
What are the documents required to open minor Demat account with FYERS?
Guardians can open a minor Demat account with FYERS through an online process. However, before starting the application, the guardian must already hold an active FYERS Demat account. Documents required for opening a minor Demat account Make sure the ...
Can foreign corporates open an account with FYERS?
Yes, FYERS allows foreign corporate entities and Overseas Corporate Bodies (OCBs) to open trading and demat accounts in India. We understand that international organizations have unique compliance and documentation needs, and our team is equipped to ...
Can a minor open a trading and Demat account with FYERS?
Minors are not allowed to operate trading accounts independently. However, guardians can open a Demat account in the name of a minor and manage it on their behalf. This setup is governed by SEBI regulations and is limited to certain investment ...
Can a guardian open and manage multiple minor Demat accounts with FYERS?
A guardian may open and manage multiple minor Demat accounts with FYERS, but there are specific conditions to ensure compliance and traceability. These accounts must be opened for the guardian's children and must be managed individually. Minor ...
What is the procedure to open a minor account in FYERS?
Guardians can open a minor Demat account through FYERS. The process is entirely digital and requires the guardian to have an active FYERS Demat account. The minor’s account will be operated by the guardian until the child turns 18. Step-by-step ...