Short answer

You can convert your resident demat account to an NRI demat account by submitting application forms, identity documents, address and bank proof along with a ₹500 fee. The conversion takes up to 7 working days, during which your Arrow access is temporarily suspended, though you can view holdings through CDSL Easi. You can only convert a resident account to an NRO account, not an NRE account. Before starting, ensure your residential status is marked as non-resident on the ITD website.

Documents required for conversion

If your KYC status is non-resident, you don’t need to notarise documents. If not, you must notarise all documents through the Indian embassy, authorised officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrates, judges, or Indian embassy/consulate general in your country of residence. Create a ticket mentioning your PAN and date of birth to check KYC status.

The table below shows the documents required to convert a resident account to an NRI account:

Equity application form (PDF). Sample equity form (PDF).

Refer to the signature guidelines (PDF) to learn how to sign all the forms.

Account closure form (PDF). Fill out the correspondence address as per the existing account. Sample copy (PDF).

FATCA declaration (PDF). Sample FATCA form (PDF).

TINs for countries can be found on OECD. The common TINs are as follows: USA: SSN, EIN or ITIN Canada: SIN UK: UTR or NINO Singapore: NRIC or FIN Australia: TFN

USA: SSN, EIN or ITIN

Canada: SIN

UK: UTR or NINO

Singapore: NRIC or FIN

Australia: TFN

NRI client details form (PDF). Sample NRI client details form (PDF).

Indian passport Self-attested and notarised valid passport copy with the place of birth as India, and a valid visa.

Self-attested and notarised valid passport copy with the place of birth as India, and a valid visa.

Foreign passport Self-attested and notarised valid passport, visa and the PIO, OCI or resident card.

Self-attested and notarised valid passport, visa and the PIO, OCI or resident card.

Self-attested and notarised PAN copy.

Self-attested and notarised copy of the Indian address proof if available.

Self-attested and notarised copy of the overseas address proof. The address proof can be any of the following: Driving licence Foreign passport Utility bills Bank statement Banker letter attested by the bank (on the bank’s letterhead) (PDF) Rental agreement, or lease, or sale deed Mariner’s declaration or certified copy of Continuous Discharge Certificate (CDC) in case of Merchant Navy NRIs. Resident permit card Overseas Citizen of India (OCI) card

Driving licence

Foreign passport

Utility bills

Bank statement

Banker letter attested by the bank (on the bank’s letterhead) (PDF)

Rental agreement, or lease, or sale deed

Mariner’s declaration or certified copy of Continuous Discharge Certificate (CDC) in case of Merchant Navy NRIs.

Resident permit card

Overseas Citizen of India (OCI) card

A notarised hard copy of the marriage certificate if the name has changed due to marriage.

Annexure B (PDF) to update the name in the demat account as per the latest documents. Sample copy (PDF).

If the client is in India and submitting the documents to the iRage branch or if the notary is being done in India, the latest immigration copy should be provided.

A self-declaration (PDF) if there is a minor mismatch in the name between the supporting documents.

Banker’s signature letter (PDF) if your signature has changed. It must have your new signature and the seal and signature from the bank.

If your current signature does not match the previous KYC records, you will need to provide a Banker’s signature letter (PDF) from your bank (Indian or Overseas).

Self-attested personalised cheque or bank statement from the NRO bank account.

Due to their classification as Clients of Special Category (CSC), NRIs must submit self-attested income proof while opening an account. Income proof can be any of the following: Bank statement or passbook for the last six months. The latest salary slip. Form 16 or Income Tax Return (ITR) acknowledgement. Net worth certificate. Statement of demat holdings.

Bank statement or passbook for the last six months.

The latest salary slip.

Form 16 or Income Tax Return (ITR) acknowledgement.

Net worth certificate.

Statement of demat holdings.

Steps to convert your account

The steps to convert a resident account to an NRI account are as follows:

1. Pre-conversion requirements:

Clear all debit balances in your account.

Withdraw any existing credit balance.

Close all open positions, including MTF.

Verify your name and signature match existing account records.

2. Document preparation:

Download and fill out the required forms.

Gather supporting documents.

Ensure all signatures match your existing signature proof. The signature in the existing account can be found by visiting app.arrow.trade/account/documents, selecting Signature proof in the drop-down menu, and clicking on E-mail to me.

3. Initial submission:

Email all completed documents to support@arrow.trade.

Wait for document review and feedback.

Make any corrections if requested.

4. Complete In-Person Verification (IPV):

5. Final submission:

Courier the documents and account opening fee of ₹500 (cheque payable to iRage Broking Limited) to iRage’s Bangalore office:

iRage Customer Support Centre 192A 4th Floor, Kalyani Vista, 3rd Main Road, JP Nagar 4th Phase, Bengaluru, 560076

Nominee

You can add resident Indians and NRIs as nominees to your Arrow account. For NRI nominees, you must provide an Indian address and mobile number.

Required details (based on CDSL requirements):

Your nominee’s identification: PAN, Aadhaar, passport, or driving licence number

Your nominee’s mobile number and email ID

For minor nominees Guardian’s contact details and ID number must be provided, along with the minor’s contact details. If the minor’s contact details are not available, the guardian’s contact details can be considered instead. You may also use your own contact details for the minor.

Guardian’s contact details and ID number must be provided, along with the minor’s contact details.

If the minor’s contact details are not available, the guardian’s contact details can be considered instead.

You may also use your own contact details for the minor.

While you don’t need to submit ID proof, iRage recommends providing valid ID proof for accuracy.

FATF Compliance (Blacklisted & Greylisted Countries)

Blacklisted countries: NRI clients residing in blacklisted countries cannot open a Arrow account as per Financial Action Task Force (FATF) guidelines.

Greylisted countries: Clients in greylisted countries may open an account only after iRage’s compliance team approves.

Broker details

iRage Broking Services LLP (SEBI registration INZ000011262), product name Arrow. Registered office: Gift City, Gandhinagar.