The requirements for opening DP accounts for NRIs are as follows:
Account relationship with ADCB Bombay/Bangalore.
Since NRI can invest in shares and securities on repatriable and / or non-repatriable basis depending on the origin of funds (funds emanating from NRE or NRO accounts) for investment, the following requisites of the RBI permission will apply,
DP account opened on
Type of transaction
RBI permission required/not required
1)
Non - Repatriable basis
Primary market purchase/sale
not required
2)
Non - Repatriable basis
Secondary market purchase/sale
Required
(general permission issued by designated Authorised dealer)
3)Repatriable
basis
Primary market purchase/sale
not required
4)Repatriable
basis
Secondary
market purchase/sale
Required
(general permission issued by designated Authorised dealer)
Latest photographs and proof of identity such as copy of passport or election card or driving license, or P.A.N
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