An efficient way of guarding all your shares and other eligible securities, by holding them in an electronic, dematerialised form. Your holding of physical share certificates is converted into an electronic record or dematerialised, and reflects as a credit balance in your Demat Account.
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- Elimination of risks associated with physical certificates:
e.g., theft, loss in transit, mutilation, fire, etc.
- Periodic statements enabling easy portfolio monitoring
- Buy/sell even one share. No minimum lot in case of dematerialised shares
- Faster settlement cycle so you get your money/shares much faster
- Buy/sell free shares through any broker of your choice
- Elimination of problems related to change of address, transmission, etc.
You can benefit from Repatriable and Non-Repatriable Demat Accounts.
The Repatriable Demat Account: This account is for shares purchased using repatriable funds. Sale proceeds of such shares can be credited to your NRE Bank Account.
The Non-Repatriable Demat Account: This account is for shares and securities purchased with non-repatriable funds or when you were a Resident Indian. The sale proceeds of these shares can be credited to your NRO Bank Account.
Buying shares in dematerialised form
- Your broker will help to execute your transaction on the exchange
- Inform him that the shares should be credited to your Demat Account
- Provide him with your Demat Account details
- Submit a copy of the contract note to Citibank
Selling shares in dematerialised form
- Call your broker to sell the shares on the exchange where the shares of your company are listed
- On confirmation from your broker that the shares have been sold, transfer the shares from your Demat Account to your broker's account
- Submit the following to Citibank:
- Copy of the contract note
- Annexure L (transfer instruction) for getting the shares transferred from your Citibank NRI Demat Account to your broker's account
- Please remember there are strict deadlines within which you need to transfer the shares to your broker
Please Note: If your Bank account with Citibank is the designated account under the Portfolio Investment Scheme (PIS) as defined under the Foreign Exchange Management Act (FEMA) in India, you will also need to adhere to a few additional requirements under these regulations. Please contact your Relationship Manager for more details.
- Account opening form completely filled and signed by all the holders
- One photograph of all the joint holders with signatures across the photo
- PAN Card copy for all holders (please note: Holder name on the account opening form should be exactly the same as per the PAN Card)
- Address proof for all the holders. A copy of the Passport/Driving License/land line telephone bill or electricity bill (less than 2 months old)/bank statement for the last calendar quarter along with a canceled check leaf from the account can serve as address proof
- Canceled check leaf of the linked Bank account specified in the form (if not already provided as a document for the Address Proof)
- One photograph and signature of the nominee (if you are opting for the nomination facility)
- Please have all your supplementary documents verified by the local Indian embassy or a local banker prior to handing over the same to the NRI Service Centers
Click here for FAQs on the Citibank NRI Demat Account.
Click here to view your nearest NRI Service Center to meet our Relationship Managers.
Click here to view the schedule of charges.
Citibank and Citibank with Arc Design are registered service marks of Citigroup Inc. © 2006 Citibank N.A. Citibank N.A., India offers NRI Demat Accounts strictly as per the Foreign Exchange Management Act, 1999 and rules and regulations issued thereunder and/or any other rules/regulations/guidelines issued by the Reserve Bank of India and/or the Government of India from time to time.
The facility of NRI Demat Accounts is governed by the same and may change in accordance with changes in the aforementioned laws/legislations/guidelines. For detailed Terms and Conditions, please refer to the Citibank NRI Demat Application Form. NRI Demat Accounts are not available to US persons and may not be available in all jurisdictions. All income or capital gains derived from investments in the Indian equity market will be subject to taxation as per Indian tax laws. Applicable statutory capital gains tax will be deducted from the sale proceeds of shares prior to crediting the customer's linked NRE/NRO bank account, as the case may be. If tax has already been deducted, proof of the same needs to be submitted at time of share transfer instructions.
