List of Document to Open a Demat Account | My Espresso

Documents Required For Demat Account Opening

A Demat account stands for a dematerialized account. It is like any other bank account; the key difference is that this account holds the securities and company shares electronically. Also, the documents required for a Demat account are the same for every institution and firm. A Demat account contains everything from stocks, mutual funds, bonds, government securities, Exchange-traded funds, etc.

Published on 17 January 2023

Without a Demat account, you cannot trade online. This is a prerequisite if you want to start trading. It becomes easy for you to hold shares online rather than holding them in a physical form. In this article, we will discuss the documents required for opening a Demat account.

Before moving on to that, let's first look at the procedure of opening a Demat account.

Procedure for Opening a Demat Account

You can open a Demat account online easily. You need your updated KYC and a few other documents, which we shall discuss later. Verification is to be done by a DP- Depository Participant, and finally, you can receive Beneficiary Owner Identity.

Note: You can easily open a demo account online if your phone number and your Aadhaar Card are linked.

Eligibility Required for Opening Demat Account

  • Resident of India
  • Hindu Undivided Family
  • Non-residential Indians
  • Domestic companies

Documents Required for Opening Demat Account

To open a Demat account, you need to provide some documents. These documents are to be thereafter verified by a DP.

Proof of Identity

  • Under proof of identity, you have to submit a PAN card which is required
  • You need to provide a Unique Identification Number; for this, you can provide your Driving License/ Aadhaar Card/ Voter ID/Passport
  • Your identity card should be a government-issued ID with your photograph on it.

There are a few exemptions to PAN cards also-

  • Investors from the state of Sikkim.
  • Transactions are done on behalf of the Central Government/State Government
  • Multilateral agencies/UN and the organizations under who are exempted from filing tax returns or paying taxes in India
  • 50,000 per annum as a Systematic Investment Plan or SIP of mutual funds
  • Institutional clients, as defined under the Companies Act of 1956 are exempted.

Proof of Address

Documents that are admissible as Proof of Address include a Passport/Ration Card/Voter ID/Driving's License.

Apart from these, other documents that are admissible as proof of address are

  • Utility bills such as electricity bills, telephone bills, or gas bills should not be older than three months
  • Bank statement or your passbook of the prior three months
  • Proof of address issued by the manager of scheduled co-operative, scheduled commercial banks, or multinational foreign banks or a Gazetted Officer/MLA/MP/Notary public or any other documents issued by a government authority
  • Even an ID issued by the central/ state government, Public Sector Undertakings, Universities, Colleges affiliated with Universities, and other professional bodies such as the Bar Council, ICAI, etc.
  • Proof of address in the name of your spouse may also be accepted

Proof of Income

  • A photocopy of the ITR must be submitted to the Income Tax Department
  • A certificate of your net worth duly audited by your Chartered Accountant
  • A recent salary slip that proves the net worth or income
  • The current bank account statement with the income of the last six months
  • Other documents that prove the ownership of your assets with a self-declaration
  • A Demat account holdings statement with an eligible Depository Participant
  • Power of Attorney- this agreement paper is to be signed by you and given to the broker to settle trades and funds transfer. The POA has your Demat and bank account details linked to it

Proof of bank account

You can submit a canceled cheque as proof of a valid bank account.


Around 2-3 recent passport-size photographs.

Note: For the documents, you submit, make sure to check their expiry. They should not expire and be valid on the submission date.

Attestation of Documents for Opening Demat Account

There are a few people who are authorized to attest the documents.

  • In the case of Non-Residential Indians, the authorized officials of overseas Scheduled Commercial banks registered in India, the Court Magistrate, the Judge, and the Consulate General/Indian Embassy in the country where the NRI resides.
  • Gazetted officers, Managers of Scheduled Commercial/Co-operative banks or Multinational Foreign Banks, and Notary Public.


Apart from these documents, the Depository Participant might ask you for additional proof of identity, income, and address. The list of documents required for the Demat account opening is clearly defined, and if any further information/documents are needed, your broker or the DP will inform you of that.

Once the documents are submitted by you, verified by the DP, and checked and verified by the concerned authorities/departments, your Demat account will be opened.

Chandresh Khona
Team Espresso

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