Before you contact us, you first should contact your bank in order to re-designate your resident savings bank account to an NRO bank account, and also open an NRE account if you wish to do so. You can use either type of account (NRO or NRE) to continue investing with Scripbox.
You absolutely have to inform us when you become an NRI. This will typically be 180 days after you have moved abroad. This is a regulatory requirement. We also need to re-do your KYC as an NRI.
Once your bank account is ready, login to your Scripbox account and click on "Add a family member" and then "Adult". Enter your details. Once done, please email us at email@example.com. We will update the investor type as "NRI". You can then continue your registration. In addition the pre-filled documents (account opening form, KYC form and form to link your bank account) sent to your e-mail address, we require the following documents from you.
- A signed copy of your overseas address proof - any government-issued address proof (e.g. driver license) will do. If you do not have any overseas address proof, an acknowledgement from the Indian embassy or consulate in that country, stating your current overseas address, will also suffice.
- Signed copies of the photo and address pages of your valid Indian passport.
- A cancelled cheque leaf with your name printed on it (preferred), or a bank account statement
- A newly-signed form to link your bank account reflecting your account number, in order to automate your investments.
- A signed bank change letter reflecting your updated bank account information. Contact us to get a copy of this letter by e-mail.
- A signed change of residence letter to reflect your new KYC status as an NRI. Contact us to get a copy of this letter by e-mail.
- A short 30-second video selfie with you showing the originals of these documents to the camera
Please note the investments you made when you had a resident savings account will also be shown when you login to Scripbox. However, if you now choose to withdraw those investments, the proceeds will be credited into your NRO bank account. These proceeds cannot be credited into your NRE bank account as that would not comply with foreign exchange laws in India.