295. Domestic demat account

should be closed by Non

Resident

Q. Dear Sir, I am in Muscat for my company project in Salalah Airport. I have already converted my salary account to NRE & NRO account. I am already having Demat account, can this demat convert it into NRI demat account by giving letter request and attaching visa & passport copy to my bank where I am having demat as well as NRE & NRO account. Can you suggest. Thanks & Regards, A. Now that you are an non resident, the domestic demat account you already have should be closed. You can open a new non resident demat account under the Portfolio Investment Scheme. This would normally require a PIS application form, your passport copy, Visa and PAN. Your bank should be able to do this for you once you send them the required documentation. You also have the option of opening a repatriable demat if you prefer, Non residents are allowed to have both types of demat accounts. I am not publishing your name or your companies name address etc.