Process of status change Individual to NRO
- In case of change of status from Individual Resident to NRI proof of residential status i.e. Passport which indicates the change of residential status, Resident Visa/ Work Permit/ Employment Visa/ Current Visa or any other type of visa
- Bank modification form with preprinted cancelled cheque, along with address modification whose necessary self-certified supporting documents.
- KRA form duly filled.
- C-KYC (File attached – CKYC Form)
- Modification form filled and signed.
- FATCA form duly filled and signed. (File attached – FATCA declaration)
- In case of change of status from Resident to Non-resident, documents as required for opening a NRI account will be required to be obtained. Further DPs will be also required to obtain, a declaration duly signed by the NRI that he/she has complied with and will continue to comply with, FEMA regulations and other applicable laws.
- FEMA Declaration Note: All supporting documents should be self-certified required and attached all necessary forms for your ready reference.
Process of status change from NRO to Individual
Standard operating process for transmission process
The account holder has not added a nominee to their account but has holdings less than 15 lacs
A. If the holdings and funds value is equal to or less than Rs. 15 lakhs. If the account has No Nominee and the value of the stock is equal to or less than 15 lakhs than the claimant has to follow the below process:
- Transmission Form signed by claimant (As per format)
- Original / Copy of Death Certificate duly attested by a Notary Public or by a Gazetted Officer
- Affidavit-cum-Indemnity Signed by all the legal heirs, stamped and notarized (As per format
- No objection certificate(s) signed by each legal heir separately and signature duly attested by the authorized person of the bank / notarized (As per format)
- Identity proof of the claimant
- Cheque for outstanding balances if any.
- Client Master Report of the claimant duly stamped and signed by DP.
- · Ration card copy or Family Tree (A family tree is a self-prepared pedigree/genealogy by the family members issued by the Tahsildar or a revenue officer)
If the holdings and funds value is more than Rs. 15 lakhs. If the account has No Nominee and the value of the stock is equal to or less more than 15 lakhs, then the claimant has to follow the below process:
- Transmission Form (Link) signed by claimant (As per format)
- Original / Copy of Death Certificate duly attested by a Notary Public or by a Gazetted Officer
- Copy of Succession Certificate or Probate of Will or Registered Will or Letter of Administration - Attested by a Notary Public or by a Gazetted Officer or an Order of a Court of Competent Jurisdiction - Attested by a Notary Public or by a Gazetted Officer
- Court Decree
- An Affidavit-cum-Indemnity from all legal heir(s) made on appropriate non judicial stamp paper, to the effect of identification and claim of legal ownership to the securities shall be required for Registered Will. ( As per format)
- Identity proof of the claimant with OSV (original seen and verified),
- Cheque for outstanding balances, if any.
- Client Master Report of the claimant duly stamped and signed by DP.
Note: In case deceased holder does not have succession or letter of administration or probate and holding is more than 15 lakhs, claimants can submit legal heirship certificate along with Notarized indemnity bond & Affidavit from all legal heir along with no objection certificate from all legal heirs.
- Transmission Form (Link) signed by claimant (As per format)
- Client Master Report of the claimant duly stamped and signed by DP.
- Identity proof of the claimant with OSV (original seen and verified), Self-attested copy of Permanent Account Number Card of the nominee(s)/claimant(s)/legal
- Cheque for outstanding balances, if any.
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Identity proof of the claimant with OSV (original seen and verified), Self-attested copy of Permanent Account Number Card of the nominee(s)/claimant(s)/legal
Nomination process for joint holders:
- 1. Transmission form of joint holder.
- 2. Client master copy of survivor holder duly seal and signature of counter DP.
- 3. Death Certificate original or photocopy, must be notarized.
- 4. All ledger debit balances must be zero or credit.
- 5. Closure form.
- 6. Death Declaration.
Nomination process of sole holder, where nominee registered:
- 1. Transmission form of Sole holder.
- 2. Client master copy of survivor holder duly seal and signature of counter DP.
- 3. Death Certificate original or photocopy, must be notarized.
- 4. All ledger debit balances must be zero or credit.
- 5. Death declaration from survivor holder.
Please find the required forms as below:
Note : If any transaction taken place in deceased holder account, whose Indemnity form required on Rs.500/ duly notarized
Referral Agent Registration Form