Can I open a Demat account without PAN card?
Demat
account is essential for any kind of activity such as trading in stock market
and shares etc as it holds all the records of shares and securities bought by an
individual in electronic format. You cannot buy, sell or retain shares without
holding a Demat account. The process of opening a demat account is really easy
and quick.
Is it essential to have a PAN card for Demat account opening?
It’s
essential to hold a PAN card in order to open a demat account. According to the
Security Exchange Board of India (SEBI) circular dated April 27,2007 it is
mandatory to hold a PAN card to open a demat account irrespective of the size
of the investment or objective of an individual.
At the moment of opening a Demat account, the
investor needs to reveal the original PAN card. Additionally, a self-attested
copy of your PAN card must be submitted. If there are joint holders in the
Demat account, PAN is necessary for all the joint holders. With one PAN card,
you can open multiple Demat accounts. The number of Demat accounts that one can
open has no limits. All these Demat accounts will, however, be linked to the
same PAN card.
What are the documents required for opening demat account?
You
need to provide some documents as a part of the demat account opening protocol
and complete the KYC (Know your Customer) process. So, as per the Official
Valid List (OVD) of documents, you need to provide your proof of identity,
address proof documents and a copy of your PAN card to successfully open a
Demat account.
Open demat account with Indira Securities and start your trading journey with the best full-service providing brokerage firm in Central India.
Also Read - How
can I recover my Demat account number?