Yes, at Bloom, you can convert your existing resident individual account into an NRI-NRO trading and DEMAT account. However, you will not be able to convert your resident individual account to an NRI-NRE account.

Transfer your holdings to another residential account, close your resident account, and open a new NRI (NRE) account as an alternative to converting your resident individual account to an NRI account. (It is not possible to transfer shares from a resident account to an NRI (NRE) account.)

An NRE account is a bank account that allows you to repatriate both the principal and interest generated. Repatriation is restricted by an NRO.

Note: To trade futures and options, you must have an NRO account linked to your trading account.

Documents required to convert a resident account to a non-resident account –
- Account Modification Form - To change the CDSL's bank information and overseas address.
- FEMA declaration copy
- Form for FATCA Declaration
- P.O. Box Declaration - This is just for residents of the UAE countries.
- Trading Form for terminating a resident trading account
- Application for a job in trading
- Notarized copy of PAN card* Notarized copy of - - Overseas address proof* – Copy of Driving License/Foreign Passport/Utility Bills/Bank Statement (within the last two months)/Notarized copy of rent agreement/Leave & License agreement/Sale Deed
- In the event of an Indian passport, a notarized copy of a valid passport* with India as the country of birth is required, as well as a copy of a valid visa.
- In the case of a foreign passport, a notarized copy of the valid passport* and a copy of the PIO/OCI acquired.
- Account Verification canceled cheque leaf of your NRO savings bank account).
- To confirm all of the information entered in the application, fill out the Client Details form.
Identification of the nominee (In case you have added a nominee)

Note: A copy of the NRI's PAN card, passport, and evidence of foreign address must be notarized by the Indian Embassy or another competent authority in the country where the NRI resides, such as a Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker.

Your mutual fund investments with SS Corporate will be transferred to the NRO-non PIS account when you convert your existing account.