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Documents Required For Demat Account

If you wish to trade in the stock markets, you will need to open a demat account . A demat account is a digital platform through which you buy and sell stocks. It is very easy to open such an account. You can complete the entire process online. All you need to have in hand are the correct documents required for demat account .
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  • 07 Feb 2023
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If you wish to trade in the stock markets, you will need to open a demat account. A demat account is a digital platform through which you buy and sell stocks. It is very easy to open such an account. You can complete the entire process online. All you need to have in hand are the correct documents required for demat account

There are different kinds of demat accounts. Which type should you open? This would depend on your exact need. You can choose from the following options:

  • Individual Demat Account

This account is opened and run by a single account holder. You cannot have more than one account holder for this type of demat account.

  • Joint Demat Account

Up to three people can open a joint demat account. One of them will be named the main holder. The other two will be joint holders.

  • Corporate Demat Account

A company or a corporate house, as a whole, can open a demat account in its name.

  • Demat Account For NRIs

Are you a non-resident Indian (NRI)? You can still trade in certain segments of the Indian stock markets. You will need an NRI demat account for this purpose.

There are different documents required to open demat account. You will need to submit certain papers based on the type of account you want to open. An identity (ID) proof and an address proof are compulsory for all account types.

You will need an ID proof to open any type of demat account. You can use any of the following documents for this purpose:

  • PAN card
  • Aadhaar card
  • Passport
  • Voter ID
  • Driving licence
  • Any other government-issued photo ID card
  • Photo credit or debit cards issued by Indian banks

What Are The Documents Accepted As Proof Of Address?

Next, you will need a valid proof of address. For this, you can submit any of the following documents:

  • Passport
  • Voter ID
  • Driving licence
  • Sale or lease agreement of current residence
  • Current utility bill (landline telephone/electricity/gas)
  • Bank statements of last three months
  • Proof of address issued by a bank manager Note:The address proof documents needed to open a demat account may be in the name of your spouse. They will still be honoured.

What Are The Documents Accepted As Proof Of Income?

Apart from your ID and address, you also need to prove your financial status. You will have to submit the following documents:

  • Acknowledgement copy of your Income Tax Return (ITR)
  • Salary slips of the last three months or Form 16
  • Bank account statements of the last six months

Who Are The People Authorized To Attest Your Documents?

You can get the documents needed to open a demat account attested by a:

  • Notary public
  • Gazetted officer
  • Bank manager (with the name, designation, and seal)

For NRI demat accounts you can get the documents attested by a:

  • Manager of an Indian scheduled bank’s foreign branch
  • Notary public
  • Judge
  • Court magistrate
  • Indian Embassy or the Consulate General of country of residence

It is very easy and helpful to open a Kotak Securities demat account. You just need to submit four basic documents:

  • Duly filled in account opening form
  • Passport-sized photographs
  • PAN card
  • Aadhaar card (you can use this document both as an ID and address proof) Note: Other documents valid here include Voter ID and driving licence.

Opening a Kotak demat account is a simple process. First, you need to complete the application form. Then, you will be assigned a relationship manager. The manager will guide you about the procedure. He or she will also meet you in person and collect the necessary documents. This makes the process even more convenient.

Conclusion

The first step is to decide the type of demat account you want to open. Keep the related documents ready with you. Get the attestation done beforehand to enjoy a hassle-free process. Speak to your relationship manager. If you have any doubts, get them cleared. Now you can start trading in the correct manner and watch your wealth grow.

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