![]() Once the documents are uploaded, enter the 'Nominee share in %' you want to give to that nominee You also have the option to add up to 3 nominees to your account.Fill in the nominee details and then click on 'Continue'.You will be redirected to the 'Nominee details' page, where you will click on 'Add nominee' or 'Opt-out'.Log in using your 6-digit PIN or Biometrics. ![]() Steps to add a nominee to your Upstox Demat+Trading account: Saves your loved ones from having to go through tedious paperwork to access your assets in case of your death.It can help avoid potential disputes among your heirs about who should inherit your assets.Adding a nominee can provide peace of mind knowing that your loved ones will be taken care of in case of an unfortunate event.Nomination is an important aspect of managing your account in your absence, whether it's your bank account, trading account or Demat account.Ī nominee is the person or person(s) you legally appoint to own your shares in your absence. In short, NRIs can open a Demat account in India by setting up the necessary NRE/NRO accounts and obtaining the required permission through the RBI's Portfolio Investment Scheme, offered in partnership with select banks like HDFC and Axis. With a PIS account, NRIs have the flexibility to use funds from both their NRO (non-repatriable) and NRE (repatriable) bank accounts for making investments in India.This process falls under the Portfolio Investment Scheme (PIS). In addition to an NRE or NRO account, NRIs looking to invest in the Indian stock market through a Demat account must also obtain permission from the RBI (Reserve Bank of India) through one of our partner banks, such as HDFC or Axis Bank.The funds in this account are non-repatriable, meaning you can't easily take the money abroad. NRO Account (Non-Residential Ordinary): On the other hand, an NRO account is meant for holding Indian income.This means you can freely transfer money back to your home country. ![]()
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