I m an NRI and want to get KYC(KNOW YOUR CUSTOMER)?

Question

I m an NRI and want to get KYC Compliance? How to go about it?

Can I download forms through internet ?(if yes from where??)

or do i have to personally get forms from India?

can i make photocopies of the blank forms for my friends who also want to have KYC??

and where to send them after filling?(adress etc.)

Pls Answer soon.

Thanks

Samadu

Answer 1

KYC (Know Your Client) i now mandatory to invest Rs.50,000/- or above in India.

The requirements are as under

1. PAN Card

2. Address Proof (Voter Id, Residential Address, Bank Pass book, Electricity or Telephone bill etc)

3. Proof of Identity (Ration Card, passport, Identity card issued by your organisation etc...)

4. Proof of Your foreign Address (For NRIs)

If you are having a OCI )Other Citizen of India) status then submit a copy of the OCI card also.

A copy of the above documents alongwith the originals has to be sumitted to CDSL for verification. There are may collections centres in major cities across India Like MF collection centres, CAMS or Karvy customer service centres etc. The originals will be returned after verification. They will return a sealed copy of the application to you.

Everytime you make a new investement you wil l have to simply attach a copy of the same with your application. Additional investments to the same schemes only require your PAN number.

Have a nice day !!

photocopy of the forms can be used.

Note: Look in your mail for a copy

Answer 2

The KYC norms are actually a regulation put by the RBI on the banks.  This is put to verify the details of the account holder.  Since most of the banks do ask for address and identity proofs before opening the account, this will comply with the KYC  norms set in by the RBI.

Also all the banks are required to keep track of the transactions above Rs.50000 with the KYC.  This is done by taking the PAN of the individual

Answer 3

ou have not specified for what purpose you want to get KYC. AS an individual you do not require to get KYC, however these forms are to be filled only against nany deposit placed by you as per Reserve bank of India guidelines.