Resident vs NRI Demat Accounts - What Sets Them Apart? | Groww NRI

[@Zaaaaahid]

Most importantly, when is groww allowing NRI customers?

[@sunildsaullal]

True , right question

[@Slate-Mate]

Why Groww doesn't provide NRI demat services as it is spreading awareness though, which is really good thing.... I have been using groww since 3 years and I love it....but next year what if in case I want to convert my demat into demat nri....I will have to go to another broker

[@shridharchawan1145]

What should I do with existing mutual fund which is in resident demat account when Change to NRI demat account

[@praveensl13]

Kindly inform when groww start to give service for NRI?

[@anwarali5229]

Any possible to convert from resident demat account to NRO demat account

[@benjaminmathew4108]

Yes possible through CDSL/ NDSL

[@Talkfacts.]

​@@benjaminmathew4108 How bro?

[@mariappanveerappan2755]

How to change existing Resident Demat account to NRI Demat account.. any options..

[@sivaramkv650]

I have done this via zerodha , but you need to fill lots of forms and some notary attestations. Every step is clearly mentioned on their website

[@sunildsaullal]

When will groww allows nri to open demat account?

[@santoshraja9291]

Dear NRI's, pls don't open demat AC in groww NRI app, you won't get any support and information from the groww team, if call the customer care they simply tell you groww and groww NRI don't have any connection, they ll redirect to groww NRI customer support team, they won't answer any phone calls and they don't respond to emails also... Groww NRI team needs to address this issue immediately It's purely my view

[@muhammedfayispv4475]

Do I need to pay tax on principal amount if i'm using NRO demat. For example, how much will be tax if I transferred 40Lakh to NRO account and then invested in stocks and later at the end of year, My investment grown to 50 lakh and sold. Taxation will be applicable only to profut right? Do I need to file ITR or it is fine with TDS deductions and I can continue investing without ITR filing

[@prakashbhanage2445]

How to convert NRI trading account into residence trading account?

[@techypost]

Is it possible to link my NRO bank account to my existing demat account which was opened when I was resident and continue investing.?

[@Zaaaaahid]

Yeah its possible but you have to convert your resident status in Kyc from Resident Indian to NRI. And this KYC has to be done with physical documents. You have to either go in person or courier it. Process is mentioned on Zerodha’s website. However please check with your respective broker.

[@techypost]

@@Zaaaaahid So you mean we have to convert our resident Zerodha account to NRI demat account and then map NRO bank account. We just cant map our NRO bank account to our existing resident Zerodha account?

[@benjaminmathew4108]

Converting Zerodha resident to NRI is a nightmare..better ask your NRI banker to open a NRO demat account and then you can transfer your shares from resident to NRO through CDSL/ NDSL

[@akhilr821]

Well explained 👍🏿

[@rajnick007711]

Please explain about pis and non pis accounts

[@mehardik28]

Yes this is an important topic, please cover it in future.

[@ganeshbyale5024]

I have become NRI , my plan is to transfer money to my NRE bank account and from there to NRO bank account in India, and my NRO bank account is linked to my indian demat account which is still in resident demat account state , what should I do ? Is it necessary to convert demat account NRI account ? if yes which one should I do , NRO or NRE ? Since my linked bank account is already converted to NRO account I thought converting demat accoutn is not necessary.

[@kishoru3475]

Hi, do you got some new insights on this topic? Facing the same situation.

[@Talkfacts.]

Any solution or insight bro? I am going through the same situation.

[@Talkfacts.]

​@@kishoru3475 Any info?

[@ganeshbyale5024]

No not yet

[@kishoru3475]

After reading through different topics, what I understand is we need to convert our trading account with brokers to NRI status which in turn changes the Demat account that got created. Most cases, we might need to close the existing one and create a new one, but that will be taken care of by the brokers. Unfortunately Groww doesn't support an NRI account as of now.

[@AnjiMusical]

Complete mess up for all these if you go out of india for jobs.. The process should be simplified

[@tabishkazi6139]

Is it mandatory to have an nre or nro demat account once u settle abroad? I have recently become nri. I am transferring funds to nre account and then to my saving account and then to normal demat account. Should i continue to do so?

[@sumitKumar-sl3gw]

Same like that I am also doing

[@Imhemantnegi]

Waste of time, why are you explaining demat, equties, cdsl