Answered on February 05,2020
You are required to inform your bank or service provider about change in your residential status and request for your holdings to be moved to an NRO demat account. As a Non-Resident Indian (NRI), all your demat holdings must be moved to an NRO demat account. Besides, you must comply with Foreign Exchange Management Act (FEMA) and the Reserve Bank of India rules related to demat account holdings and investments. You can sell these holdings and receive the proceeds in your NRO account and further remit them to your country of residence after meeting specified conditions. FATCA compliance is required, and it may be requested at the time of conversion to NRO demat account.