Account Opening FAQ’s

Ans. To Open Demat and Trading Account in Delhi with Elite Wealth Advisors Ltd., you are required to call us at +91-11-42445800 or email us at contact@elitewealth.in

Or simply Download the forms from the links below:

Account Opening Form for Equity and Currency   

Account Opening Form for Commodity

Our executives will contact you and will arrange to collect duly filled and signed application form at your convenience. The pick-up facility is only applicable to the clients of Delhi/ NCR. Other outstation clients will have to courier/ post the documents to the below mentioned address:

S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091

Ans. Required Documents for Trading/ Demat Account Opening (All documents must be self-attested) are as below:-

  • Pan Card Copy
  • Address Proof any one (Bank Passbook with latest statement ,Voter id Card, Driving License, Passport & Aadhar Card)
  • Two passport size Photographs
  • Latest Bank statement (Last six months )
  • Cancelled cheque

Ans.

  • Driver’s License
  • Electricity/ MTNL latest Phone bill
  • Aadhar Card
  • Voter’s ID
  • Passport

Ans. Yes, you can use email id and mobile number of your family members. You can use the email ID/ mobile number of the family members as listed below:

  • Spouse
  • Dependent children
  • Dependent parents

In such cases you just need to give undertaking for using the same email id and mobile number and it is available in the Account opening form. You can’t use email id and mobile number of your cousin’s, neighbour’s and your friends.

Ans. You can easily open an account with us. You just need to give a valid proof of your surname in which you are showing that your surname is so and so. Like in aadhaar card or voter card your father name is printed with surname. In such case you just have to fill the name mismatch declaration form in our account opening form.

Ans. Yes you have to fill the name mismatch declaration form in the Account opening form.

Ans. Yes, you can give correspondence address proof but in such case you have to give your permanent address proof also.

Ans. Yes, but in such case you have to show your relation proof like marriage certificate, passport etc.

Ans. Yes, we will consider this bank account but you just have to give “No Objection letter” from 1st holder so that 1st holder does not have any objection that you are using his/ her account for trading purpose with us and this letter can be given on a plain paper duly signed by the 1st holder.

Ans. No, if you are 1st holder then there is no need to give “No Objection letter”.

Ans. Yes, Minor can be nominee. You have to give guardian details in case of minor in the nomination form.

Ans. Yes, but in such case you have to declare the ratio of part of your holdings that you want to give your nominee. Nomination form is available in our customer care download section on our website www.elitewealth.in

Ans. Yes, You can open Demat account of minor with guardian details. Following are the self-attested documents required for opening minor’s Demat account.

  • Pan card
  • Address proof
  • One passport size photograph
  • DOB proof (birth certificate in language Hindi or English)
  • Bank proof (name printed on that)
  • Guardian’s Pan card
  • Guardian’s address proof
  • Guardian’s photograph

Ans. No, You can’t appoint authorize person on your behalf for trading activity in your account.

Ans. Power of Attorney is authority given by Demat account holder to us. In that authority you will give the right to us that we can directly debit the shares from your account and provide to the exchange only for Pay-in of securities or against margin obligation.

Ans. Yes, but all Bank proof’s (cancelled cheque) need to be given.

Ans. Yes, but all bank proof’s (cancelled cheque) need to be given. But only one Bank account will be act as primary Bank in which automatically the payout will be transferred and in case you want in other Bank account as per our records then you need to write an email at customercare@elitewealth.in for the same.

Ans. No you can’t give bank details of 2nd person. You have to give your own bank details to us. You can give joint bank account details.

Ans. Yes. But in trading account you have to give your demat account details. Another problem you will face is that you can not sell your securities from your trading account with us before transferring the securities in our pool account.

Ans. Please submit any one of the following documents:

  • Photo with across sign.
  • Pan of nominee.
  • Aadhaar number of nominee.
  • Saving bank account no of nominee, if maintain with the same participant.
  • Demat account details of nominee.
  • Copy of any proof of identity document (accompanied by original for verification or duly attested by any entity authorized for attesting the documents).

Ans. Following self-attested documents copy are required for HUF account:

  • Pan card of HUF.
  • Address proof of HUF(bank passbook with latest transactions) .
  • Pan card of karta.
  • Address proof of karta.
  • Bank accounts details of HUF(it should be either cheque with name printed on that or bank passbook with latest transactions).
  • 3 photographs of karta.
  • HUF Declaration Deed.

Ans. Following documents copy are required for company account as below:

  • Pan card of a company
  • Address proof of a company
  • Board resolution
  • MOA, AOA and certificate of incorporation.
  • Copy of balance sheets for the last 2 financial years.
  • Copy of latest share holding pattern.
  • Photograph, POI, POA, PAN and DIN numbers of whole time directors or two directors.
  • Copy of cheque or bank passbook with latest transactions.
  • Photograph, POI, POA and PAN of individual promoters holding control – either directly or indirectly.
  • Authorised signatories list with specimen signatures.

Ans. Following self-attested documents copy are required for NRE/NRO account:

  • 2 color photographs.
  • Pan card (self-attested).
  • Address proof self-attested (Indian and the other country where the person is residing).
  • PIS letter from bank.
  • Bank proof (it should be either cheque or bank passbook with latest transactions).

Ans. Yes, you can change nominee by submitting the nomination form.

Ans. You can add multiple Bank account and Demat account in your trading account. But there will be one primary Bank account where we will be sending the payouts.

Ans. Yes, we send all details regarding your account like contract note, statement of accounts etc. in your email id.

Ans. Yes, you can change your signature. You just need to give a request letter for signature change and new signature should be duly attested by your bank manager.

Ans. Trading account can’t be open jointly but demat account can be open in the name of two or more.(Max. 3 Holders)

Ans. Following are the documents required for derivative segment activations.(give any one of them):

  • Copy of ITR Acknowledgement for last 2 years
  • Net worth certificate
  • In case of salary income – Salary Slip, Copy of Form 16
  • Bank account statement for last 6 months
  • Copy of demat account holding statement – not more than 3 months old
  • Any other relevant documents substantiating ownership of assets.

You have to submit new segment activation form with any one of the above written documents.

Ans. As per the law of SEBI when any person wants to open a trading or demat account then one person of the broking firm has to meet the person personally and verify his/her original documents. This process we called in-person verification. Yes this process is mandatory. Since we provide online facility for account opening we verify your original documents via skype or any other online facility.

Ans. DIS is delivery instruction slip. It is required for transfer of shares and at the time of transactions in a Demat account. It is the authorization you are giving to your depository participant to debit the shares from your account. It will be used only when you have not given Power Of Attorney and if you want to transfer your shares from one Demat account to another Demat account offline.

Ans. In such case you need to check whether company’s KYC is registered or not then, if company’s KYC is registered then you need to submit the following documents:

  • Reactivation form duly signed by the Authorised person as mentioned at the time of opening of account.
  • Board Resolution for requesting reactivation
  • last 2 yrs Balance sheet and ITR with Audited financial statements.

If company’s  kyc is not registered the you need to submit the following documents:

  • Pan card of a company
  • Address proof of a company
  • Board resolution
  • MOA, AOA and certificate of incorporation.
  • Copy of balance sheets for the last 2 financial year.
  • Copy of latest share holding
  • Photograph, POI, POA, PAN and DIN numbers of whole time directors or two directors.
  • Copy of cheque or bank passbook with latest transactions.
  • Photograph, POI, POA and PAN of individual promoters holding control –either directly or indirectly.

Authorised signatories list with specimen signatures.

Ans. For Trading minimum age should be 18yrs and for Demat account there is no minimum age limit.

Ans. FATCA stands for the Foreign Account Tax Compliance Act. It is a declaration by each individual / corporate etc .that they don’t have any foreign accounts or funds routed from foreign etc.

Ans. All individual who currently have one account or plan to open an Demat account where they are the sole first holder will be allowed to open the BSDA, provided that the value of securities held here will not be more than Rs2 lakh at any given point of time. Keep in mind that you are allowed to open only one BSDA across all DPs.

Ans. We open an account in following segments:

  • Equity
  • Derivatives
  • Currency
  • Commodity

Ans. No. In the case of HUF, shares can be held in the name of existing karta on behalf of HUF.

Ans. No. The Demat account cannot be operated on “either or survivor” basis like the Bank account.

Ans. C-KYC stands for Central KYC, a process storing the KYC records of the customer centrally. The programme was announced by the Government of India in the 2012-13 Union Budget and went live in July 2016. With Central KYC (cKYC) program, once you finish the KYC process with an entity authorized to conduct KYC, it will be sufficient for you to invest in all the other financial products including Mutual Funds. Central KYC (cKYC) is being managed by The Central Registry of Securitization and Asset Reconstruction and Security Interest in India (CERSAI).

You need to give your one passport size photograph, pan card and valid address proof along with CKYC form for CKYC registration.

Ans. With a view to bring uniformity in the KYC requirements for the securities markets, SEBI has initiated usage of uniform KYC by all SEBI registered intermediaries. In this regard SEBI has issued the SEBI {KYC (Know Your Client) Registration Agency (KRA)}, Regulations, 2011. KRA provides for centralization of the KYC records in the securities market. The client who is desirous of opening an account/trade/deal with the SEBI registered Intermediary shall submit the KYC details through the KYC Registration form and supporting documents. The Intermediary shall perform the initial KYC and upload the details on the system of the KYC Registration Agency (KRA). This KYC information can be accessed by all the SEBI Registered Intermediaries while dealing with the same client. As a result, once the client has done KYC with a SEBI registered intermediary, he need not undergo the same process again with another intermediary.

You need to give your one passport size photograph, pan card and valid address proof along with kyc form for KYC registration in KRA.

Ans. Once your account is opened with us you will get your user id and password on your email id and also in your welcome letter.

Ans. No. CKYC is applicable only in individual account.

Ans. Once the account gets opened the client will receive an email as well as an SMS.

Ans. Nomination can be made only by individuals holding beneficial accounts either singly or jointly. Non-individuals including society, trust, body corporate, Karta of HUF, holder of POA cannot nominate.

Ans. Our representative will contact you in case there is any rejection. Also the client will get an SMS from KYC department.

Ans. Net worth certificate should be enough, there is no minimum net worth.

Ans. This is as per the Plan opted by the client.

Ans. Following are the steps:

  • Receiving of duly filled up form along with the documents required.
  • Scrutiny of documents and checking of signatures done.
  • Verification call is made to the client to verify the details as per the KYC
  • Once verification done then Demat account is opened and then the trading account gets uploaded.
  • Once the account is opened welcome mail sent by us on client’s registered email id with us.

After opening the Trading and Demat account we do the KRA registration as well as cKYC registration.

Ans. Your account will be activated within 3 days from the day we receive your completed form along with all the required documents.

Ans. Welcome letter will be reached at your address within 10 days of open an account with us.

Ans. You will get DIS booklet and welcome letter in which the details are mentioned like your user id and password, your back office login id and password, your client code your RM name etc.

Ans. No. Because the purpose of sending welcome letter at your address is verifying your address.

Ans. By your welcome letter that was sent at the time of account opening.

Ans. Download account closing form from our website www.elitewealth.in and fill the same and submit to us.

Ans.

  • The correct documents should be sent as proof for the KYC process. Please refer to the next question to know the valid documents.
  • The documents should be self attested & all documents should be legible after the print out. Moreover, the signature of the client should be consistent throughout the form. Any discrepancy may lead to a delay in the account opening process.
  • The Cheque submitted by the client should have the client’s name printed (below the Signature). If not, then the client is mandated to submit his/her passbook and bank statement.
  • The address mentioned in the account opening form should be consistent with the address proof submitted.
  • The forms should be filled correctly and completely. Please view sample forms in order to fill the form correctly.

Ans. 

The following reasons are mostly behind the delay in the Account Opening process:

  • The correct documents should be sent as proof for the KYC process (Check FAQs to know the list of required documents).
  • The documents should be self-attested.
  • All documents should be legible after the print out.
  • The Cheque submitted by the client should have the client’s name printed (below the Signature). If not, then the client is mandated to submit his/her passbook and bank statement.
  • The address mentioned in the account opening form should be consistent with the address proof submitted.
  • The forms should be filled correctly and completely. Please view sample forms in order to fill the form correctly.
  • The signature of the client should be consistent throughout the form. Any discrepancy may lead to a delay in the account opening process.