When you find a perfect depository participant that meets your needs and requirements, the next step is to fill out the Demat Account form.

This form is available on the Depository Participant's official website that you have chosen (in the case of online DP). If the DP is a verified Stockbroker or bank, you can also get the forms from their offices.

Now that you have filled the form, you need to upload the scan copies of your documents for completing the KYC norms. KYC is compulsory, and it verifies your identity to ensure genuine accounts are created. KYC documents include -

• Identity Proof
• Address Proof
• Bank Account Statement
• Income Proof

Ensure to keep all these documents ready. If you are submitting the Demat account form online, keep the documents prepared in the scanned format and as per the Depository participant's size requirements.

Such information is displayed right before you start filling the paperwork to open a Demat Account.

Once you have submitted the Demat Account form with all the required KYC documents, the Depository Participant should now mandatorily check the documents in person for the documents' authenticity.

This process is known as IPV or In-Person Verification.

Depending on the Depository Participant, they can call you at one of their offices for verification purposes.

Here, you need to carry the original documents and xerox copies of them. The verifier can take several days to complete the verification process, and this varies among different Depository Participants.

There is also a possibility that the Depository Participant conducts an online verification process using the webcam or smartphone camera.

Either way, a verifier checks for authenticity, and the whole process is mandatory when you are opening a Demat account.

Once the In-Person Verification (IPV) is completed, the Demat Account applier needs to sign an agreement with the Depository Participant.

This agreement consists of the duties and rights of the Depository Participant and the investor. Ensure you read the agreement thoroughly and do not rush.

You can ask doubts before signing, and if you feel inappropriate, you can cancel the account with the current Depository Participant and look for an alternative.

Once the verification and agreement process is completed, you might have to wait for a few days till the authorities approve the account. Once the account is approved, you are assigned a unique Beneficial Owner Identification Number (BO ID) which is used to access the Demat Account.

• Aadhaar card
• Voter's identity card
• Driver's license
• Passport
• Electricity bill
• Ration card
• Bank passbook or account statement (not older than three months from the date of receipt of documents)

A copy of the bank account statement, which is not older than three months from the date of filing the form.

Copy of Salary slips and Income Tax Returns.

• Link your Demat Account to your Trading Account
• Be aware of the charges involved
• Fill in the correct details and ensure all the documents have similar information.
• Do not forget to add a nomination.