InvestorQ : Should one close their DEMAT account if they are to go outside India?
Arusha Ray made post

Should one close their DEMAT account if they are to go outside India?

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priya Shah answered.
1 year ago
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If you’re moving to another country for less than six months, then there is no need to close your Demat account. In case you’re going for over a year, then you need to close your Demat account. A resident trading account cannot be converted into an NRI trading account. An NRI customer has to close the resident trading account and open a new NRI trading, The other option you have is to transfer the shares to a family member’s Demat account. You also have the option of freezing the account, in case you will be coming back in sometime.
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