NRI/PIO can open a demat account with any Depository Participant [DP] of NSDL. The NRI/PIO needs to mention the type [‘NRI’ as compared to ‘Resident’] and the sub-type [‘Repatriable’ or ‘Non-Repatriable’] in the account opening form collected from the DP. No permission is required from RBI to open a demat account. However, credits and debits from the demat account may require general or specific permissions as the case may be, from designated authorized dealers. No. Securities received against investments under ‘Foreign Direct Investment scheme (FDI)’, ‘Portfolio Investment Scheme (PIS)’ and ‘Scheme for Investment’ on non – repatriation basis has to be credited into separate demat accounts. Investment under PIS could be on repatriation or non – repatriation basis. Investment under FDI scheme is on repatriation basis.

No special permission is required. Holding securities in demat only constitutes a change in form and does not need any special permission. However, only those physical securities which already have the status as NR – Repatriable / NR- Non-Repatriable can be dematerialized in the corresponding Depository Accounts. No. An NRI must open separate demat accounts for holding ‘Repatriable’ and 'non-Repatriable’ securities.