When applying to open a Demat account, you’ll be required to submit a specific set of documents for verification. These documents help your Depository Participant (DP) validate your identity and address, ensuring compliance with regulatory norms. Keep in mind that your PAN card—issued by the Income Tax Department—is mandatory, and all other documents are submitted in addition to the PAN.
Topics Covered
1. Proof of Identity Documents
As part of the KYC (Know Your Customer) process, your DP will ask for valid government-issued identity documents. Acceptable documents include:
Passport
Aadhaar Card
Voter ID Card
Driving License (issued by a Regional Transport Authority in India)
Your name and date of birth must exactly match the details filled out in your Demat account application form.
In addition, the following may also be accepted as valid ID proof:
Photo ID cards issued by central/state government departments, PSUs, or statutory/regulatory authorities
Employee IDs from scheduled commercial banks
Membership cards issued by professional bodies such as ICAI, ICWAI, ICSI, or the Bar Council
Student ID cards from universities or colleges affiliated with recognized institutions
2. Proof of Address Documents
To validate your residential address, the following documents are typically accepted:
Utility bills such as electricity, water, gas, or landline telephone bills (must not be older than 3 months)
Bank account statements or passbook entries (up to 6 months, not older than 3 months from the application date)
Aadhaar Card or any government-issued document that clearly mentions your current address (but cannot be used as both identity and address proof simultaneously)
Registered rent agreement (for tenants) or registered sale deed (for homeowners)
Spouse’s address proof, if both reside at the same address (subject to DP’s discretion)
A letter from a recognized authority, such as a government body, PSU, or bank, confirming your address
3. Is PAN Card Mandatory for Opening a Demat Account?
Yes, the PAN card is a compulsory document for opening a Demat account. However, there are a few exceptions:
Investors residing in Sikkim are exempt from submitting a PAN card.
Employees of foreign embassies and multilateral agencies who are exempt from filing income tax returns in India are also exempt from the PAN requirement.
If you don’t have a PAN card yet, you can apply using Form 49A and submit the acknowledgment to your DP. Once your PAN is issued, the DP will update it in their system.
4. What if You Don’t Have Original Documents?
If you’re unable to present original documents for verification, your self-attested photocopies must be authenticated by one of the following:
A Notary Public
A Gazetted Officer
A Manager of a Public Sector Bank
For NRIs, the documents must be attested by:
An authorized overseas bank branch
A judge or magistrate in the country of residence
The Indian Embassy or Consulate
Note:
Depository Participants are within their rights to request additional documents or clarification if needed. These extra checks ensure security and compliance with SEBI regulations.
