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Open ICICI 3-in-1 Account

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    NRI Account Back

    ICICI Direct NRI Account

    What happens to the Bank, Demat, and Trading accounts after NRI to RESIDENT CONVERSION?

    Account & Investment Treatment After NRI to RI Conversion

    1.Demat & Bank Account Consolidation

    > Customers can choose one Demat Account for consolidation of holdings from NRE/NRO to Resident.

    > Customer can choose one Bank Account for consolidation of funds from NRE/NRO to Resident.

    > All other NRE/NRO Bank and Demat accounts will be closed and balances/holdings will be transferred to the selected Resident Demat & Bank Accounts as per the applicable process.

    > PIS approval will be surrendered as part of the conversion process.

    > If the customer holds an NRO Non-PINS Trading Account, it will be converted to a Resident Trading Account.

    > If the customer doesn't hold an NRO Non-PINS Trading Account, a New Resident Trading Account will be opened with the same application.

     

    Points to Remember

    > All KYC documents must be scanned in Grey Scale.

    > The First 8 Digits of the Aadhaar number must be masked.

    > Any open positions in the NRI trading account must be cleared before processing.

    > Please mention all accounts held by NRI customers for conversion / closure in respective fields

    > Please tick only one bank account and demat account that needs to be converted. Only one bank and one demat need to be ticked.

    > If the customer holds an NRO Non-PINS, it can be converted to Resident Trading Account. Otherwise, new Resident Trading Account will be opened.

    > Existing investments, including stocks, mutual funds and SIPs are transferred/updated to the Resident Demat Account as per the applicable process during the conversion process.

    What is ICICI Direct? What are the products offered by ICICI Direct? What is unique about NRI account offered by ICICI Direct? What is the 3-In-1 concept offered by ICICI Direct for an NRI account? What type of accounts does an NRI need to start investing with ICICI Direct? What are the advantages of using ICICI Direct? Which Equity segments can NRIs trade in? What are Types of account provided by ICICI Direct for NRI Services? Do NRIs need to apply separately for Portfolio Investment Scheme (PINS)? What type of accounts does an NRI need to start investing with ICICI Direct? Why is the NRI client unable to login and getting FATCA error? What is NRI re-KYC process? What is the process for converting NRI account to a Resident Account? What happens to the Mutual Funds holdings after NRI to Resident Conversion? What are the eATM Limits for NRI Customers? NRI client can view the capital gain & loss adjusted against their transaction initiated through PINS account online through ICICI direct portal? What is the process for converting RI to NRI ?