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Is it possible for the client to hand over a PoA to his family member who can sign / open the account on his behalf etc?
No.
An NRI cannot authorize a family member through PoA to sign or open a Demat / Trading account on his behalf.
This is not permitted under Indian KYC and SEBI norms.
Account opening & KYC – strictly personal
KYC must be completed by the client himself
Account Opening Form (AOF) must be:
Signed by the NRI account holder
Supported by client’s own IPV / OVD verification
PoA cannot substitute KYC or account opening
? Allowing a family member to sign defeats the “Know Your Client” requirement, which regulators do not permit.
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