I'm currently investing with Scripbox through my savings account, but I've recently become an NRI. Could you assist me in updating my resident status from Resident Indian (RI) to Non-Resident Indian (NRI)?

Any resident status change process involves four steps.

1. KYC Modification

2. Creation of a new account

3. Updating the new TAX status in the existing folios

4. Movement of Folios to the new account 

For updating the KYC (7-10 working days) (Scanned and Physical Copies): 

1. Self-signed PAN

2. Self-signed Passport (first and last page) 

3. Self-signed Overseas address proof (accepted proofs are mentioned below)

   1. International Driver’s licence

   2. Resident card

   3. Utility bills (internet/water/electricity)
      

4. KYC form: Kindly affix your passport-size photo, sign across the same and also sign on the first and second page in the given slot (Applicant E sign and Applicant Wet signature). The details that are required to be filled in are contact number, email ID, and PAN details. Please do not fill in any other details, we will do what is needed according to the documents you will share with us. Attached is the KYC form).

5. FATCA forms (CAMS and KARVY): The forms are to be filled and signed along with the TIN details (required by the fund houses and the KYC registration agencies). (Attached)

Note: The KYC modification process is offline and we would need the above-mentioned physical documents to be attested by a scheduled Indian bank (in India or overseas) or from a Notary Public or by the Indian Embassy and then couriered to our office address. 

We request you share the coloured scanned copies of the documents for the KYC change via email for pre-verification. Post confirmation that documents are good to proceed, they are required to be couriered to our office address.

Creation of New Account (within 2 hours from the time of completion of sign-up):   

Once the KYC is registered as an NRI, request you to create a new Scripbox account by adding yourself as a family member in your Scripbox account, entering the new NRO bank account details & with the Resident status as NRI.

Steps to add yourself as a family member

Once the account is active, we recommend you not start the investments in your new NRI account until the entire process is completed. This is to avoid any investments being rejected due to Multiple Tax Status at the folios.

For Updating the folios with the new Tax status (10 working days) (Scanned Copies):

6. New bank proof: Cancelled cheque with name printed for NRO bank account or Latest bank statement with the recent three transactions along with banker's attestation (Seal, signature, designation, name, and employee code)

7. Old Bank Proof: Cancelled cheque with name printed for Savings bank account {BANK NAME & LAST 4 DIGITS} or Latest bank statement with the recent three transactions along with banker's attestation (Seal, signature, designation, name, and employee code)

8. Signed Resident change form (form will be shared later once the KYC is approved as NRI and NRI account is active)

Movement of folios (1 working day):

9. Once the tax status is updated in the folios, we will move the folios from the Resident-Indian account to the new NRI account.

If we need any additional documents, we shall let you know accordingly. The change of resident status usually takes 4 weeks from the time we have received the complete set of documents.

Office address: Scripbox India Pvt Ltd Indiqube @ The Leela Galleria, 3rd Floor, No. 23, Old Airport Road, Bangalore- 560008.