Demat account without PAN card

Can I open a Demat account without PAN card?

About Demat account                                        

Demat account is essential for any kind of activity such as trading in stock market and shares etc as it holds all the records of shares and securities bought by an individual in electronic format. You cannot buy, sell or retain shares without holding a Demat account. The process of opening a demat account is really easy and quick.

Is it essential to have a PAN card for Demat account opening?

It’s essential to hold a PAN card in order to open a demat account. According to the Security Exchange Board of India (SEBI) circular dated April 27,2007 it is mandatory to hold a PAN card to open a demat account irrespective of the size of the investment or objective of an individual.

 At the moment of opening a Demat account, the investor needs to reveal the original PAN card. Additionally, a self-attested copy of your PAN card must be submitted. If there are joint holders in the Demat account, PAN is necessary for all the joint holders. With one PAN card, you can open multiple Demat accounts. The number of Demat accounts that one can open has no limits. All these Demat accounts will, however, be linked to the same PAN card.

Documents needed to open a Demat account.

You need to provide some documents as a part of the demat account opening protocol and complete the KYC (Know your Customer) process. So, as per the Official Valid List (OVD) of documents, you need to provide your proof of identity, address proof documents and a copy of your PAN card to successfully open a Demat account.

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