Account Opening FAQ’s

Ans. A Demat Account helps the investors hold shares and securities in electronic format. This kind of account is also called a dematerialised account. It also helps to keep a proper track of all the investments an individual makes in shares, exchange-traded funds, bonds and mutual funds in one place.

Ans. A trading account is used to purchase and sell shares in stock markets. Once you have a Demat Account, and want to sell your shares, or purchase new securities, you need a Trading Account. Your Trading Account will have a unique trading number, which will be used to trade in shares.

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. 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. 1 -For Individual Account

  • Pan Card
  • Address Proof ( Aadhaar card , Driving licence , Voter Id card, Passport, Bank statement)
  • Passport size photograph
  • Nomine Id proof ( Pan / Aadhaar)
  • Cancelled cheque( If account opening charges paid online than we will receive cancelled cheque otherwise required Amounted cheque)

         2-For Corporate Account

  • Copy of the balance sheets for the last 2 financial years (to be submitted every year).
  • Copy of latest share holding pattern including list of all those holding control, either directly or indirectly, in the company in terms of SEBI takeover Regulations, duly certified by the company secretary/Whole time director/MD (to be submitted every year).
  • Photograph, POI, POA, PAN and DIN numbers of whole time directors/two directors in charge of day to day operations.
  • Photograph, POI, POA, PAN of individual promoters holding control-either directly or indirectly
  • Copies of the Memorandum and Articles of Association and certificate of incorporation.
  • Copy of the Board Resolution for investment in securities market.
  • Authorised signatories list with specimen signatures.

     3-For HUF Account

  • PAN of HUF.
  • Deed of declaration of HUF/ List of coparceners.
  • Bank pass-book/bank statement in the name of HUF.
  • Photograph, POI, POA, PAN of Karta

       4-For NRE/ NRO account

  • Passport size 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).

 *In case client wants to trade in derivatives than latest six month bank statement required


Ans. Steps given below:

*Required Information & documents for online Account Opening

     –  PAN details

– Aadhaar details to complete EKYC for ESign

– Aadhaar linked mobile number for OTP authentication

– Bank Account details such as Bank Account number and IFSC

Soft copy of following documents:

  • PAN card. (JPEG & PNG Format, Size 2mb)
  • Signature on white paper. (JPEG & PNG Format, Size 96kb)(Scanned, cropped and clearly visible. Signature should cover 90% of screen)
  • Cancelled Cheque leaf. (JPEG & PNG Format, Size 2mb)
  • Bank account statement. (PDF Format, Size 2mb)

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. 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, but all Bank proof’s (cancelled cheque) need to be given and your name should be printed on cheque

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 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 cannot sell your securities from your trading account with us before transferring the securities in our pool account.

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

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

Ans. 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. 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. 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. 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 KYC Misc Forms section on our website

Ans. No. Minor cannot be a joint holder in a demat account

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

Ans. We open an account in following segments:

  • Equity
  • Derivatives
  • Currency
  • Commodity

Ans. Yes, HUF Karta can trade and invest in stock, commodity and currency markets similar to individual trading account. A trading and a demat account can be opened on the name of HUF. For HUF Trading and Demat account, a HUF PAN Card and HUF Bank Account is mandatory.

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. 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. Your account will be activated within 24 hours 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 and your RM name etc.

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

Ans. Before you close your Demat account with your Depository Participant, please ensure the following:

  1. All your existing shares and securities are transferred to your Elite Wealth Demat account
  2. All your negative cash balances (arising due to non-payment of AMC or transfer charges) are settled with the Depository Participant
  3. In order to close your existing Demat account, you will have to submit a duly filled account closure form that can be found on the website of your Depository Participant. It typically takes around 7 to 10 business days to close the account once you have completed all the required formalities.

Ans. Download account closing form from our website and fills the same and submit to us

ce you have completed all the required formalities.

Ans. No, The depository has not prescribed any minimum balance. You can have zero balance in your demat account.