uTrade AlgosTo open a Demat account with Share India, you must be an Indian citizen, either a resident or a Non-Resident Indian (NRI). Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) who hold a valid Indian passport and are living abroad are eligible to open an NRI trading account with Share India.
Additionally, people of Indian origin and organisations operating within India can also open a Demat account.
Although the eligible age is 18, minors can also open a Demat account, which will be operated by a guardian who can transfer the rights once the applicant is an adult.
To open a Demat account, there are some standard set of documents that you will be asked for:
- PAN Card: A valid Permanent Account Number (PAN) card is essential for identification and tax purposes. The process for Know Your Customer (KYC) begins by uploading the same on our portal.
- Aadhar Card: An Aadhar card is required as proof of identity and address. If you have it uploaded on DigiLocker, you will be prompted on the portal to extract details from the same.
- Signature: A scanned copy of your signature is required. Please ensure it’s a clear scan of a signature made with a ballpoint or ink pen. Markers or sketch pens are not acceptable. The picture should be cropped neatly and proportionately.
- Income Proof: If you plan to engage in Futures and Options (F&O) or Currency Derivatives trading, you will need to provide income proof. This could include any of the following:
- Bank statement (from the last 6 months)
- Latest income tax return statement
- Latest 3-month salary slips
- Networth certificate
- Latest copy of Form 16
- Copy of annual accounts
However, it is important to note that additional documents may be required based on the category under which you apply. For example, NRIs may be required to submit proof of their visa status, overseas address proof, etc. Please also note that the eligibility criteria and required documents may change from time to time.