What are the Documents Required for Opening an Account with Sharekhan?

You must provide specified documents and information to Sharekhan in order to open an account or a demat account and satisfy regulatory and verification criteria. These papers help in proving the reliability and authenticity of your trading account. The list of paperwork and information needed to open an account with Sharekhan is provided below:

1. Form for Opening an Account: Either as a sole account holder or as a joint account holder, you must finish the Demat Account Opening Form. The KYC (Know Your Customer) Application Form, which is necessary for both individual and joint accounts, must also be completed.

2. Photograph: Join the form with a current passport-sized photo of each account holder or signatory. To verify their authenticity, these photos need to be attached to the form and signed across from them.

3. Acceptable forms of proof of identity (POI) Sharekhan accepts a variety of documents as POI. The required paperwork is typically a PAN card with a picture on it. Certain income groups, Sikkim residents, or transactions on behalf of governmental organisations are exempt, though. You can provide one of the following in lieu of a PAN card:

• Unique Identification Number (UID) or Aadhaar Card

• Passport

• Voter ID Card

• Valid Driving License

• Identity card/document with your photo issued by government authorities, statutory/regulatory bodies, public sector undertakings, banks, educational institutions, professional bodies, or credit/debit cards issued by banks.

4. Proof of Address (POA): Sharekhan requires proof of your address (POA) for account verification. You can provide any of the following documents:

• Passport
• Voter ID Card
• Ration Card
• Registered Lease or Sale Agreement of Residence
• Valid Driving License
• Utility bills such as Telephone Bill (landline only), Electricity bill, or Gas bill (not more than 3 months old)
• Bank Account Statement/Passbook (not more than 3 months old)
• Address proof issued by government authorities, banks, educational institutions, statutory/regulatory bodies, public sector undertakings, or professional bodies.

5. Bank Account Information: Include information about your bank account, as well as a genuine canceled check showing your printed name, account number, IFSC code, MICR code, bank information and branch location.

6. Optional Documents (for Trading in Derivatives and Commodities): You might need to present evidence of your income or your net worth if you want to invest in derivatives (futures and stocks) or the commodities market. Among the acceptable documents are:

• Form 16
• Income Tax Acknowledgment Copy
• Bank statements for the last six months
• Stock Holding statement
• Certificate from a verified Chartered Accountant confirming your net worth.

7. Minor Account: If the primary account holder is a minor, the information about the parent or legal guardian must be included on the account opening form. The signature, contact information, and pertinent records of the parent or legal guardian should also be included.

Conclusions

Making sure you have all the necessary paperwork on hand can speed up the Sharekhan account opening procedure and let you get started with your investing right away. Remember that Share Khan’s requirements could change, so it’s a good idea to contact them for any updates or precise instructions before starting an account.