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I am permanently moving back to India from abroad. Do I need to change my status to a Resident Indian? How do I do so?

If you had previously invested or continue to invest with Scripbox using funds in your NRE or NRO bank account, please do not close your NRE or NRO bank account until your resident change is successfully completed i.e from NRI to Resident Indian.

Inorder to invest with the resident status as Resident Indian, you need to have a savings bank account in India. Once your resident Indian bank account is ready, login to your Scripbox account add yourself as a family member. Enter your own details but with your India address and resident Indian savings bank account. 

Once your new Scripbox account is created, request you to share the below documents in the PDF format at help@scripbox.com: 

  1. Paste your passport size photograph on the pre filled KYC form received on your registered email ID, sign across the photograph & at the designated box on page 2. 
  2. Self signed copy of your PAN card. 
  3. Self signed copy of your Indian address proof. 
  4. A 5 second video selfie (Face the camera for 5 seconds) 
  5. A canceled cheque leaf (with your name printed on it) of the NEW bank account (resident Indian savings bank account). If you don't have a cheque with name printed, you can provide a recent 3-month bank statement with the seal and signature of a bank employee with employee code and designation mentioned.
    - Note: Few Mutual Fund Companies require the original cancelled cheque along with the recent 3-month bank statement, in-case if you don't have a cheque with your name printed on it. 
  6. Self-signed link-your-bank-account form received on your registered email ID when you added yourself as a family member. If you have added a bank account from the listed banks, then you can instantly link your bank account using internet banking. 

It usually takes around 1 working day to get your “Scripbox account with the resident status as Resident Indian”, activated i.e. once we receive the above documents from you. However, we highly suggest that you continue with your investments once the entire process of Resident Status Change is completed. 

Below are the documents required for the folio movement from NRI to Resident Indian. Please share the below documents in the PDF format at help@scripbox.com: 

  1. A canceled cheque leaf (with your name printed on it) of the OLD bank account (NRE or NRO bank account). If you don't have a cheque with name printed, you can provide a recent 3-month bank statement with the seal and signature of a bank employee with employee code and designation mentioned.
  2. Request letter duly signed by you to move all  your Folios to the updated resident status as Resident Indian account (We will share the format with you). 

The change of resident status usually takes 4 weeks from the time we have received the complete set of documents.

NOTE:

  • For customers who were investing using NRE bank account, in some rare situations, some mutual fund companies may ask for a bank statement of the NRE account with the transactions pertaining to the investments made. We will contact you if the need arises.
  • There might be additional documents required if any of the mutual fund houses requests for it (we will keep you posted in case if any).

Hope we helped! Why not get started with your Scripbox.
If you need further assistance please feel free to reach us at 1800-102-1265