| Account type | Bank requirement | Repatriation |
|---|---|---|
| NRO Non-PIS | NRO account with any scheduled Indian bank | Non-repatriable, subject to applicable FEMA provisions |
| NRE PIS | Supported through HDFC Bank, Axis Bank, Federal Bank, and IDFC FIRST Bank | Repatriable |
An NRO Non-PIS account allows eligible investments using funds held in an NRO bank account. An NRE PIS account is used for eligible investments under the Portfolio Investment Scheme using an NRE bank account.
To open an NRI account with FYERS, the applicable documents must be submitted. The required documents must be self-attested and, where applicable, attested by an authorised authority.
| Document | Purpose |
|---|---|
| Account opening form | Filled and signed with personal and contact details |
| PAN card | Tax identification |
| Passport | Identity verification |
| NRO cancelled cheque or bank statement | To link the NRO bank account |
| Foreign address proof | Proof of residence outside India |
| Indian address proof | If applicable |
| FEMA declaration | Declaration under FEMA regulations |
| FATCA declaration | Tax compliance declaration |
| Client details form | Verification of the information provided |
| Nominee ID proof | Required if a nominee is added |
| CP code, if applicable for F&O | Optional for derivatives trading |
Each applicable document must be attested with a stamp stating “Verified with original”, along with the attesting authority's signature, designation/name, and date.
Accepted attesting authorities include:
FYERS offers a digital registration facility. To begin the account-opening process, submit your details through the FYERS NRI onboarding page.
| Scenario | Solution |
|---|---|
| You don't have a cancelled NRO cheque | A bank statement containing the required bank details, including IFSC and MICR codes, can be submitted. |
| Your NRO account is not with HDFC, Axis, Federal, or IDFC FIRST Bank | You can still open an NRO Non-PIS account using an NRO account with any scheduled Indian bank. |
| You want to open an NRE PIS account | FYERS supports NRE PIS onboarding through HDFC Bank, Axis Bank, Federal Bank, and IDFC FIRST Bank. |
| You want to trade in derivatives | A CP code through Orbis Financials is optional. You can trade in F&O with FYERS, subject to applicable eligibility and regulatory requirements. |
| You're unsure how to attest your documents | You can approach an Indian Embassy or Consulate, a Notary Public, a Local Banker, or use an accepted Online Notary in your country of residence. |