Can we add an NRI as a nominee in existing individual account?
Yes, you can add an NRI (Non-Resident Indian) as a nominee in your existing individual demat or trading account. There is no restriction on the nominee's residential status โ they can be a resident Indian or an NRI. You just need to provide the required nominee details such as their full name, date of birth, relationship, address, and ID proof (if needed by the broker or depository).
Please note that being a nominee does not give the NRI any ownership or trading rights in your account while you're alive. The nominee only has the right to claim the account assets in case of the account holderโs death, after completing the required documentation.