A Demat account is similar to a bank account, except it stores securities and other financial instruments in electronic format. The procedure to open a Demat account online is almost the same across different firms and institutions.

You have to select a depository participant (DP) which can be banks, financial institutions, and brokers authorized by the SEBI to open a Demat account online.

After choosing a trusted DP, you must go through all the terms and conditions to understand the documents required for the Demat account opening process.

Eligibility to open a Demat account:

  • A person can only open a Demat account when they are above 18 years of age
  • One can also open a minor Demat account for their child, but the parent or guardian must supervise the account until the minor turns 18.
  • Even if you are an NRI (non-resident Indians) you can open an online Demat account in India.

The following categories of non-individuals are also eligible to open a Demat account online:

  • Corporate entities
  • Partnership organizations with the Demat account in the partner’s name
  • Registered or unregistered trusts, the Demat account being in the trustees’ name
  • Registered or unregistered societies with Demat account in the name of members
  • An association of persons (AOP)
  • Limited liability partnership (LLP)


Documents required for Demat account opening are:

  • Proof of identity (POI)
  • Proof of address (POA)
  • Proof of income
  • PAN card
  • Copies of recent passport size photographs

Below is the detailed list of documents required for Demat account opening

List of documents qualifying for proof of identity (POI):

  • PAN card with a credible photograph of the applicant. PAN card is mandatory for all applicants except for those specifically exempt from obtaining PAN
  • Unique identification number (UID) for example- Aadhar/ passport/ voter ID/ driving license
  • Ration card that contains your photograph
  • Identity card or document with the applicant’s photo, issued by the following bodies:

  • Central or state government
  • Statutory or regulatory authorities
  • Public sector undertakings (PSUs)
  • Scheduled commercial banks
  • Public financial institutions
  • University-affiliated college credit or debit card member IDs issued by the professionals like ICAI, ICSI, ICWAI, or the bar council

List of documents qualifying for the proof of address:

Documents required as address proof for Demat account opening are:

  • Applicant’s passport
  • Voter’s ID
  • Ration card
  • Any registered sale or lease agreement of your current residence
  • Driver’s license
  • Utility bills such as electricity bills or telephone bills containing your address that are not over 3 months old
  • An insurance copy
  • A copy of your bank statement or passbook which is not over 3 months old
  • Government or statutory authority document
  • Proof of address issued by: Bank Managers of commercial banks, co-operative banks, multinational foreign banks, gazetted officer, a notary public or legislative assembly or the parliament represent
  • Any document or identity card issued by: Central or state government and its department statutory or regulatory authorities, public sector undertakings (PSUs), scheduled commercial banks, public financial institutions, university-affiliated colleges, professional bodies like the ICAI, the ICSI, the ICWAI or the bar council.
  • Address Proof in the name of the spouse is accepted

List of documents qualifying for proof of income:

  • A copy of the income tax return (ITR), as submitted to the income tax department
  • A net worth certificate by a chartered accountant
  • Salary proof Demat account securities statement with other DP
  • A copy of the current bank account statement stating the history of the past six months’ income


List of people authorized to attest the documents:

  • Notary public, manager of a scheduled commercial bank or multinational foreign banks (name, designation, and seal should be affixed on the attested copy)

  • With NRIs
  • A judge
  • Court magistrate
  • Authorized officials of overseas scheduled commercial banks registered in India
  • An Indian embassy or the consulate general in the country where the client lives

After having all these documents ready, you can open a Demat account online and start your trading journey.

By Manali