NRI (Non-Resident Indian) accounts at Lakshmishree cannot be opened completely online through the website. However, clients who want to open an NRO-Non-PIS Account, NRE-PIS Account, or both, can fill out the account opening form online for review. After the review, they must courier the signed documents to Lakshmishree.

Lakshmishree offers two types of NRI accounts based on the bank account linked:
 

1. Portfolio Investment Scheme (PIS) Account Documents

A Portfolio Investment Scheme (PIS) account needs a permission letter from the RBI, which should be arranged through any one of Lakshmishree's partner banks — HDFC Bank, Axis Bank, Kotak Bank, or ICICI Bank.

You must provide the following documents to open a PIS account:

• Equity Trading and Demat Account Form filled and signed.
   
• Demat Debit and Pledge Instruction (DDPI) form.
   
• Self-Attested Copy of the PIS Permission Letter from the bank.
   
• FEMA Declaration (Foreign Exchange Management Act declaration).
   
• Self-attested Indian Passport Copy.
   
• Self-attested Foreign Passport copy (if available).
   
• Self-attested PAN Card copy.
   
• Self-attested Indian Address Proof, which can be any one of the following:
  
  
  • Driving Licence,
  • Foreign Passport,
  • Utility Bills,
  • Bank Statement,
  • Rental Agreement, Lease Deed, Sale Deed, or
  • Overseas Citizen of India (OCI) Card.
    
     
• Self-attested personalised cancelled cheque or a bank statement from the NRE account.
   
• Latest six months' bank statement or passbook copy.
  
   

2. Non-PIS Account Documents

A Non-PIS account does not need any RBI permission letter. Investments are made only through an NRO Bank Account. Non-PIS accounts are generally preferred due to fewer restrictions and lower costs.

To open a Non-PIS account, the following documents are required:

• Equity Trading and Demat Aaccount Form filled and signed.
   
• Demat Debit and Pledge Instruction (DDPI) form.
   
• FEMA Declaration.
   
• Self-Attested Indian Passport copy.
   
• Self-Attested Foreign Passport copy (if available).
   
• Self-Attested and Notarised PAN Card Copy.
   
• Self-Attested and Notarised Indian Address Proof, which can be any one of the following:
  
  • Driving Licence,
  • Foreign Passport,
  • Utility Bills,
  • Bank Statement,
  • Rental Agreement, Lease Deed, Sale Deed, or
  • Overseas Citizen of India (OCI) Card.
     
• Latest Six Months' Bank Statement or Passbook Copy.
   

The account opening process for both PIS and Non-PIS accounts is fully offline.
Once all the documents are ready, Email Soft Copies to kyc@lakshmishree.com for checking. After verification, courier the physical forms to Lakshmishree’s office for final account activation.