Comment on NRI trading on Indian Stock Exchanges

Himanshu commented on 03 Oct 2016, 05:14 PM

First of all, I must appreciate the help you and your team are extending to all ignorant souls like me. Thank you very much!
I am currently staying in India and will shift to foreign land in 2 months’ time. So, technically I will not be an NRI till March of 2017. I have ICICI bank Savings account and a linked ICICIdirect trading account. I also have a HDFC savings account which is my salary account as well. I want to open a Trading account with Zerodha which will be linked with HDFC savings bank account.
My queries are –
1. Can I open Zerodha account linked with my HDFC savings account now and later (probably before April 2017) change the status of HDFC savings account to NRO account? Will it work properly or will I again have to open a new demat and trading account when I change status to NRO?
2. Can I maintain my ICICIdirect demat account as well by converting my ICICI savings account to NRO account?
3. My ICICI direct demat account has exposure to Equities, MFs and Insurance. I just want to keep it live so that I can exit the equities at appropriate times. So, can an NRI maintain multiple Demat accounts?

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