Documents Required to Open a Demat Account

Ever since it was first introduced in 1996, a demat account has altered the whole process of trading and investing in the market. It provides a simple, seamless, secure, and paperless experience. However, to ensure that your demat account is not only active but also operational without any hiccups, you need to provide certain documents at the stage of account opening itself.

Documents needed for an Individual / Joint Demat Account

To open an individual / joint demat account, one needs to submit the below documents mandatorily:

Below is a list of documents that are needed for demat account opening and validation.

1.Account Opening Form: Duly filled account opening form and KYC application form with photograph of each holder / signatory of the account

2. Proof of Identity: There is a list of documents that are considered as valid Proof of Identity. Your PAN card is mandatory, except for the below categories:

1.Traders relating to a specific income slab as per Section 139A

2.Traders resident of Sikkim state

3.Transactions done on behalf of Central or State governments or by officials appointed by Indian courts

You can submit ANY one document of the following:

1. Valid Driving License

2. Voter’s ID Card

3. Passport

4. Unique Identification Number (UID) – Aadhaar

5. Any Identity Card or document with the applicant’s photograph, issued by Central / State Government, government departments, professional bodies such as ICAI, ICWAI, ICSI, Statutory / Regulatory Authorities, Public Sector Undertakings, Bar Council etc, to their members, Public / Financial institutions, Scheduled Commercial Banks, colleges affiliated to Universities and debit cards / credit cards issued by banks

3. Proof of Address: You can submit ANY one document of the following:

1. Valid Driving License

2. Voter’s ID Card

3. Passport

4. Utility Bill like telephone bills (landline only), electricity bill or gas bill – Not more than 3 months old

5. Sale Agreement of Residence or Registered Lease

6. Bank Account Passbook/Statement

7. Any Identity Card or document with the applicant’s photograph, issued by Central / State Government, government departments, professional bodies such as ICAI, ICWAI, ICSI, Statutory / Regulatory Authorities, Public Sector Undertakings, Bar Council etc, to their members, Public / Financial institutions, Scheduled Commercial Banks, colleges affiliated to Universities

4. Other Documents: Bank Account Details – An original cancelled cheque that bears your printed name, account number, MICR code, IFSC code and bank and branch details

It is also necessary to provide proof of income or the net worth of the applicant if the latter wishes to invest in derivatives or the commodities market. This can be furnished by submitting any of the following documents:

1. IT Acknowledgement Copy

2. Form 16

3. Bank Statement for last 6 months

4. Stock Holding Statement

5. Net Worth Certificate provided by a verified Chartered Accountant

Documents needed for a Corporate Demat Account

If you are a corporate entity and need to open a demat account to trade and invest in the market, below are the documents that you must submit.

1. Account Opening Form: Duly filled account opening form and KYC application form with photograph of each holder / signatory of the account

2. Proof of Identity: There is a list of documents that are considered as valid Proof of Identity. Your PAN card is mandatory.

You can submit ANY one document of the following:

1. Unique Identification Number (UID)

2. Udyog Aadhaar of the body corporate or Aadhaar of all signatories

3. Passports of all signatories

4. Voter’s ID cards of all signatories

5. Valid Driving Licenses of all signatories

6. Identity Card or document with the applicant’s photograph, issued by any of the following: Central / State Government, government departments, Statutory / Regulatory Authorities, Public Sector Undertakings, Public / Financial institutions, Scheduled Commercial Banks, colleges affiliated to Universities, professional bodies such as ICAI, ICWAI, ICSI, Bar Council etc and debit cards / credit cards issued by banks.

3. Proof of Address:

1. Document registered with Registrar of Companies along with the copies of Challans of payments made to ROC

2. Bank statement not more than 3 months old along with an original cancelled cheque

3. Registered copy of Leave & License agreement, self-attested (by authorities signatories as per the Board Resolution)

4. Registered copy of Agreement for Sale, self-attested (by authorized signatories as per Board Resolution)

5. Copy of telephone bill / electricity bill, not more than 3 months old in the name of a body corporate, self-attested (by authorized signatories as per the Board Resolution)

 4. Additional documents to be obtained over and above Identity and Address Proof:

1. Copy of the balance sheets in the name of a body corporate for the last 2 financial years (to be submitted every year)

2. Copy of latest shareholding pattern of the Body corporate including a list of all those holding control, either directly or indirectly, in the company in terms of SEBI Takeover Regulations, duly certified by the company secretary/Whole time director/MD (to be submitted every year)

3. Photograph, POI, POA, PAN and DIN numbers of whole-time directors/two directors in charge of day-to-day operations

4. Photograph, POI, POA, PAN of individual promoters holding control - either directly or indirectly

5. Copies of the Memorandum and Articles of Association and Certificate of Incorporation

6. Copy of the Board Resolution for investment in securities market

7. Authorized signatories list with specimen signatures

5. Other Documents: Bank Account Details - An original cancelled cheque that bears the printed name of Body Corporate, Account number, Bank and Branch details, IFSC Code, and MICR code.

Documents needed for an NRI Account

If you are a NRI and need to open a demat account to trade and invest in the market, below are the documents that you must submit.

1. Account Opening Form: Duly filled account opening form and KYC application form with photograph of each holder / signatory of the account

2. Proof of Identity: There is a list of documents that are considered as valid Proof of Identity. Your PAN card and Passport are mandatory.

You can submit ANY one document of the following:

1. Unique Identification Number (UID) (Aadhaar)

2. Voter’s ID card3

3. Valid Driving license

4. Identity card/ document with applicant’s Photo, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members; and Credit cards/Debit cards issued by Banks

3. Proof of Address:

1.Passport (mandatory)

2. Voters Identity Card

3. Ration Card

4. Registered Lease or Sale Agreement of Residence

5. Valid Driving License

6. Utility bills like Telephone Bill (only landline), Electricity bill or Gas bill - Not more than 3 months old

7. Bank Account Statement/Passbook — Not more than 3 months old.

8. Proof of address issued by any of the following: Bank Managers of Scheduled Commercial Banks/Scheduled Co-Operative Bank/Multinational Foreign Banks/Gazetted Identity card/document with address, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities and Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members

4. Additionally, the following also need to be explicitly obtained for NRIs:

1. Declaration that he/she has complied and will continue to comply with FEMA regulations.

2. Copy of the RBI approval letter, if any, for acquiring securities

3. RBI reference and date mentioned in the RBI approval letter should be entered according to whether the NRI/FN has ever purchased securities from the secondary market / has been allotted securities in the primary market / or does not hold any securities

4. While processing De-materialization, receipt, delivery or pledge instructions from NRI Client, the DP must obtain a copy of the relevant RBI approval letter.

5. Other Documents:

Bank Account Details – An original cancelled cheque that bears your printed name, Account number, IFSC Code, MICR code, and Bank and Branch details.