Arihant Plus App
Home > Account Opening > NRI demat account > ...
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.
Did this help?
Thanks for your feedback!
Thanks for your feedback!
Thanks for your feedback!
Related Articles
Still stuck?
Connect with our client advisor executives on
customersupport@arihantcapital.com, or
Play Store
App Store