Can NRIs Open a Mutual Funds Investment Account with Scripbox?
As an NRI, the possibility of opening a Mutual Funds investment account with Scripbox depends on your citizenship and whether you hold an OCI (Overseas Citizenship of India) card.
- OCI Cardholders (Persons of Indian Origin/PIOs): As of May 2024, Scripbox does permit PIOs to open accounts. However, you will need to upload your OCI card during the signup process as part of the mandatory verification procedure.
- US/Canada Citizens: Unfortunately, Scripbox does not currently allow new account signups for individuals residing in the US or Canada. This restriction is in place regardless of whether you are a new investor or an existing Scripbox customer transitioning to NRI status.
- Exceptions: Individuals from restricted countries specified in SEBI regulations and circulars are strictly prohibited from investing in Indian markets. Consequently, if you are from one of these countries, you would be unable to open an account with Scripbox.
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