Who Can Open a Demat Account?

Well, pretty much anybody can. This is the answer to the question in point – Who Can Open a Demat Account? Although, most Indian citizens can go ahead and start their stock market investments journey there are a few aspects that needed to be taken care of.

In this quick review, we will be answering what formalities you need to consider.

Who Can Open a Demat Account in India?

There are no set eligibility criteria as such when it comes to the requirements for demat account opening. That is, you don’t really need to take care of the age, educational background or professional experience.

You might believe that 18 years should ideally be the minimum age limit for Demat account but not really. You can go ahead and open a minor Demat account if you are not 18 yet.

Let’s talk about the other eligibility requirements for demat account opening online in India.

Documents Required for Demat Account Opening

As you can expect, there would be a little documentation involved when it comes to a demat account.

Here is the list of such documents that you would need to go ahead with in the process:

• PAN Card (mandatory)
• Identity Proof:
• Voter ID
• Aadhar Card
• Passport
• Driving License
• Address Proof
• Ration Card
• Passport
• Driving License
• Voter ID
• Electricity Bill
• Telephone Bill
• Bank Passbook
• Bank Proof
• Cancelled cheque
• Passbook
• Bank Statement
• Signature
• Passport-sized photograph
• Income Proof (for derivatives trading)
• Bank Statement
• Salary Slips
• ITR (Income tax returns)

Who Can NOT Open a Demat Account?

There are always sides to a coin. While most of the doors are open for people looking to open a demat account and start trading, there are a few closed ones too.

Let’s quickly try to learn who cannot go ahead and simply open a demat account in India:

• a foreign national holding a foreign passport
• if you are an Indian adult citizen but do not have a valid PAN Card yet
• if you do not hold a bank account with you

There could be a few other reasons that might stop you from demat account opening, thus, make sure you have all the authentic documentation mentioned in the above section before you look to open a demat account.

Conclusion

Since demat account is being managed by the major depositories of India hence opening a demat account is as easy as signing up for a social media account, just make sure you have valid documents required for opening a Demat account.

Further, it is important to open an account with the stockbroker offering you the best services without imposing any hidden or additional charges.

So, if you are looking forward to beginning your stock market investment journey, get started now by opening a Demat account online for Free!