Opening an account for Non-Resident Indian (NRI) clients requires specific documentation and mandatory verification, as prescribed by regulatory guidelines. Below is a comprehensive overview of the documents and procedures involved.
Documents Required for NRI Registration
-
NRI Account Opening Form – Duly filled and signed.
-
Proof of NRI Status (Passport)
-
Indian Passport holders: Valid passport with place of birth as India, along with a valid visa (work, student, employment, or resident permit).
-
Foreign Passport holders: Valid passport along with any one of the following:
-
Place of birth mentioned as India in the foreign passport, or
-
Copy of PIO/OCI card, if applicable.
-
-
-
PIS Permission Letter – Issued by the designated bank (applicable only for PIS accounts).
-
Bank Proof – Cancelled cheque or bank statement of the NRO/NRE account.
-
PAN Card – Mandatory for all NRI clients.
-
Overseas Address Proof – Any one of the following:
-
Driving licence
-
Foreign passport
-
Utility bill or bank statement (not older than two months)
-
Notarized copy of rental agreement
-
-
Indian Address Proof – Copy of valid Indian address document.
-
Passport-Size Photograph – Recent color photograph.
-
FATCA Declaration Form – As per tax compliance requirements.
-
FEMA Declaration Form – To confirm compliance with foreign exchange regulations.
-
Nominee ID Proof – Required if a nominee is being added.
-
Power of Attorney (Optional) – If the client wishes to appoint a POA holder.
-
For NRI PIS accounts, processing is done exclusively through HDFC Bank. Therefore, the client must hold a PIS account with HDFC Bank, and only HDFC Bank PIS accounts are eligible for acceptance.
In-Person Verification (IPV)
Physical or webcam-based In-Person Verification (IPV) is mandatory for all NRI clients as part of the onboarding process.
Important Note
Copies of the PAN card, passport, and overseas address proof must be self-attested and notarized by the Indian Embassy/Consulate or any other competent authority, such as:
-
Authorized officials of overseas branches of scheduled commercial banks registered in India
-
Public notaries
-
Court magistrates or judges
The attesting authority must clearly mention “Verified with Original”, along with their name, designation, signature, and date.
If the client is currently in India and submitting documents at an Enrich branch, the latest immigration copy is mandatory.
This structured process ensures regulatory compliance and smooth onboarding for NRI clients.