NRI Fact Sheet

NRIs Trading the Indian Markets

Non-residents Indians (NRIs) must confirm/complete the following before opening an account with Interactive Brokers.



1.) Ensure that you qualify for NRI status.


NRI Status

A Non-resident Indian (NRI) is a person who is a citizen of India or a person of Indian origin, currently residing outside India. To qualify for NRI status you must:

  1. Reside outside India for more than 182 days per year, and;
  2. Hold Indian citizenship, or;
  3. Be a Person of Indian Origin as defined in the Foreign Exchange Management Deposit Regulations of 2000.

Please note that you must satisfy criteria (1) AND criteria (2) or (3).

For more details and to confirm that you qualify for NRI status, please see the Indian Foreign Exchange Management Act of 1999 and the Indian Foreign Exchange Management Deposit Regulations of 2000.



2.) You must have, or apply for and receive, a Permanent Account Number (PAN) card.


PAN Card

For tax purposes, NRIs will need a PAN card from the Government of India. This ID is required for securities trading in Indian markets, and can be applied for online. For more information, visit the Permanent Account Number India Income Tax page. The card will generally be received within 15 days after you remit the application and payment.



3.) You must have (or open) bank account in India, as described below.


Customers are required to open an India bank account known as Non-resident Ordinary (NRO Account) - This account is required for trading at IB. The account serves the following functions:

  • Receives funds that have been converted from home currency to INR (India rupees).
  • Provides initial funding for IB account to trade futures and options.
  • Receives withdrawal proceeds from IB.