Procedure for Opening an Account

WRITE UP ON PROCEDURE FOR OPENING AN ACCOUNT

As per the regulations, new accounts cannot be opened if the PAN is not linked with Aadhar. Even if Aadhar is successfully linked with PAN, it must still be updated in the IT records, which can take up to 7 working days. To learn more, see How to link PAN with Aadhar?

To open an offline account, the following documents are required:

1. APPLICATION FORM

• Equity trading and demat account form (PDF).
• DDPI, optional (PDF). Submitting DDPI is optional. Clients who have opened accounts online can use the CDSL TPIN to authorize the debit of securities. To know more, see How to generate the CDSL TPIN required to authorize the CNC sell transactions?

2. SUPPORTING DOCUMENTS

• A passport-size photograph to affix and sign across on the equity.
• Self-attested copy of the PAN with the signature under Applicant signature.
• Self-attested address proof. Any one of the following documents: Driving license, voter ID, passport, Aadhar card. If Aadhar is submitted as proof, ensure that a masked Aadhar is submitted, i.e., black out the first 8 digits of the Aadhar number. Only the last four digits should be visible. To download a masked Aadhar online, visit myaadhaar.uidai.gov.in and tick the "Do you want a masked Aadhar?" option while downloading Aadhar.
• A bank account proof in the client’s name. The bank proof can be one of the following:
  • A personalized cancelled cheque with the name printed on it
  • Bank statement
  • Bank passbook copy with the bank account number, bank logo, seal, MICR, and IFSC code clearly visible.
• An income proof to trade in F&O. The income proof can be one of the following:
  • Bank statement for the last six months with an average balance of more than Rs.10,000.00
  • The latest salary slip with gross monthly income exceeding Rs. 15,000.00
  • ITR acknowledgement with gross annual income exceeding Rs. 1,20,000.00
  • Form 16 with gross annual income exceeding Rs.1,20,000.00
  • Certificate of net worth more than Rs.10,00,000.00
  • Statement of demat holdings with current holdings value exceeding Rs. 10,000.00

3. IN-PERSON VERIFICATION (IPV)

As part of the mandatory In-Person Verification (IPV) requirement for all brokers, Webcam or a physical verification is required.

What is In-Person Verification (IPV), and why is it required?

In-Person Verification (IPV) is the process of verifying that the person opening the account and the documents submitted are of the same person. As per regulations, brokers can perform a video In-Person Verification (IPV).

NEED HELP?

Call ROI NET Securities Pvt. Ltd. Account opening desk at 0124-4154700

Once all the documents are ready, e-mail the soft copy of all the forms to ops.securities@roinetsecurities.in. The forms will be reviewed in case any corrections are required. After the forms are reviewed, courier the documents and a cheque in favour of ROI NET Securities Pvt. Ltd. for the DEMAT AMC Charges + DDPI & KRA Charges or you can NEFT and send a screenshot with transaction details to ops.securities@roinetsecurities.in.

Courier all the documents to:

DGB-08-011, Tower B, Emaar Digital Greens Building,
Golf Course Extn Road, Sector 61, Gurgaon-122011 Haryana.

DID YOU KNOW?

If the account holder is a senior citizen and cannot sign the forms, a medical certificate and a thumb impression of the account holder on a sheet of paper must be sent along with the other documents.

WHAT DOCUMENTS ARE REQUIRED TO OPEN ACCOUNT AS AN NRI?

Non-Resident Indian (NRI) accounts can only be opened offline, unlike resident individual accounts that can be opened online. The documents required to open an account as an NRI varies based on the type of NRI account. They are as follows:

1. Portfolio Investment Scheme (PIS) account:

A PIS account requires a permission letter from the RBI to buy and sell shares in the Indian markets. The permission letter has to be through RNSPL partner banks (Axis bank). To learn what NRO and NRE bank accounts are, see the difference between an NRE and NRO bank account.

Non-PIS account:

A Non-PIS account does not require a permission letter from the RBI. In this account, funds only from an NRO bank (any NRO Bank) account can be invested.

The documents required to open an NRI account are:

• Application form
• NRI account opening form
• Demat Debit and Pledge Instruction (DDPI), allows brokers to debit shares from the demat account.
• FATCA Declaration

Foreign Account Tax Compliance Act (FATCA) declaration . Tax Identification Number (TIN) must be filled in the FATCA declaration. The common TINs are as follows:

• USA: SSN, EIN or ITIN
• Canada: SIN
• UK: UTR or NINO
• Singapore: NRIC or FIN
• Australia: TFN

TINs for other countries can be found by visiting OECD website

P.O. Box Declaration

Declaration of P.O. box of your country of residence

FEMA Declaration

Foreign Exchange Management Act (FEMA) declaration form Supporting Documents

• A passport-size photograph to affix and sign across on the account opening form.

Client details and declaration form

• Self-attested and notarised copy of the passport:
  • In case of an Indian passport, a valid passport with the place of birth as India and a valid visa.
  • In case of a foreign passport, a valid passport, visa and the PIO, OCI or resident card.
• Self-attested and notarised copy of the PAN card.
• Self-attested and notarised copy of the overseas address proof.
  • Driving licence, foreign passport, utility bills, a bank statement.
  • Banker letter attested by the bank (on the bank’s letterhead).
  • Rental agreement or lease or sale deed.
  • Mariner’s declaration or certified copy of Continuous Discharge Certificate (CDC) in case of Merchant Navy NRIs.
• Self-attested copy of the Indian address proof (if available).
• A cancelled cheque from the NRO or NRE bank account.
• ID proof of the nominee if a nominee is being added. The proof can be:
  • Aadhaar
  • Voter’s ID
  • Driving licence
• A self-declaration if there is a minor mismatch in the name between the supporting documents.

NRIs are mandated to submit income proof while opening an account due to their classification as Clients of Special Category (CSC). To learn more, see Who are Clients of Special Category (CSC). Income proof can be any of the following:

• Bank statement or passbook for the last six months.
• The latest salary slip.
• Form 16 or Income Tax Return (ITR) acknowledgement.
• Net worth certificate
• Statement of demate holdings

If the KYC status of the NRI is non-resident, there is no need to notarise the documents required for opening an account. If it is not, the documents need to be notarised by the Indian embassy or any other competent authority, such as authorised officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrates, judges, or the Indian embassy or consulate general in the country that they reside in the country where the NRI resides. The attesting authority should affix a verified with original stamp, name, designation, authority or employee code, signature and date on the said documents. Equity F&O trading is not available by default with NRI accounts. F&O trading requires a Custodial Participant (CP) code See Can a Non-resident Indian (NRI) trade in futures and options (FnO)?

ADDITIONAL DOCUMENTATION IF A PIS ACCOUNT IS BEING OPENED:

• An NRE or NRO bank account with Axis Bank.
• Copy of the PIS letter from the bank.

IN-PERSON VERIFICATION (IPV)

As part of the mandatory In-Person Verification (IPV) requirement for all brokers, Webcam or a physical verification is required.

What is In-Person Verification (IPV), and why is it required?

In-Person Verification (IPV) is the process of verifying that the person opening the account and the documents submitted are of the same person. As per regulations, brokers can perform a video In-Person Verification (IPV).

Once all the documents are ready, e-mail the soft copy of all the forms to account.opening.com. The forms will be reviewed in case any corrections are required. After the forms are reviewed, courier the documents along with a cheque in favour of ROI NET Securities Pvt. Ltd for the following amount:

Courier all the documents to:

DGB-08-011, Tower B, Emaar Digital Greens Building,
Golf Course Extn Road, Sector 61, Gurgaon-122011 Haryana.

DID YOU KNOW?

What are the documents required to open a corporate account?

A corporate account can only be opened offline, unlike resident individual accounts that can be opened online.

The documents required to open a corporate account depend on the KYC status of the company and the director.

If the KYC of the company and the directors are not registered, the following documents are required to open a corporate account:

Application form

Equity application form

Demat Debit and Pledge Instruction (DDPI) attached to the demat application form is a document that allows a broker to debit the securities from the client’s demat account and deliver them to the exchange. The client does not have to enter the CDSL T-PIN and OTP to sell shares once the DDPI is submitted. However, DDPI is optional. If clients do not wish to submit the DDPI, CDSL T-PIN can be used for authorisation.

FATCA Declaration

Foreign Account Tax Compliance Act (FATCA) declaration

Supporting documents

• A PAN copy of the company with the seal and signature of the authorised signatory or director.
• Address proof in the company’s name with the seal and signature of the authorised signatory or director. The proof can be any one of the following: certificate of incorporation, the latest month’s transaction copy of bank statement, utility bill, Ministry of Corporate Affairs (MCA) copy, or lease or rent agreement.
• Self-attested individual PAN copies of all the authorised signatories or directors.
• Self-attested individual address proof of all the authorised signatories or directors.
• Additional copy of PAN and address proof of the authorised signatories with company seal and signature.
• Individual KYC form signed by each whole-time or executive director. The director has to sign without the stamp on individual KYCs and supporting documents.
• A copy of the certificate of incorporation with seal and signature of authorised signatory or director.
• The Memorandum of Association (MOA) and the Articles of Association (AOA) of the company, with authorised signatory or director seal and signature on the first 4 pages of the MOA and AOA. If the director details are missing on the MOA, and AOA, an additional FORM-32 or DIR-12 copy is to be submitted.
• A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised signatory or director. The balance sheet must also be attested by a Chartered Accountant (CA) and have the CA’s name, CA company name, member registration number (M. No), UDIN, date and city. The balance sheet has to be submitted every financial year after the account is opened.
• If the company is newly incorporated, then a net-worth certificate from the chartered accountant with UDIN - number specified and income tax declaration on the company letterhead with authorised signatory or director seal and signature.
• A bank account proof of the company for linking with RNSPL. The proof can be any one of the following: A personalised cancelled cheque with the company name printed on it, a bank statement, a bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
• Any one of the following income proof to activate the F&O segment:
• Latest six months’ bank statement or passbook of the company account.
• Latest year audited profit and loss statement.
• Latest year Income Tax Return (ITR) acknowledgement.
• Net-worth certificate from the chartered accountant with the UDIN number specified.
• DP holding statement of the entity.

Account opening Annexures

• Board resolution on the company letterhead
• List of directors
• Latest shareholding pattern
• Annexure A on the company letterhead

Ultimate Beneficial Owner (UBO)

An individual is identified as an ultimate beneficiary if they have shareholding, capital or profits of 10% or more in the company. They are required to submit the UBO annexure.

In case no individual is identified, the senior managing official may be considered as the UBO, and the following documents are to be submitted:

• A copy of the UBO annexure with the UBO signature and the authorised person’s seal and signature on the 3rd page if an individual holds 10% or more.
• A self-attested copy of the PAN and address proof of those holding 10% or more.

If an entity has more than 10% of the shareholding, capital or profits in the company. The entity should identify as an ultimate beneficiary and is required to submit the following documents:

• A copy of the UBO annexure with the authorised person’s seal and signature and signature of all the shareholders of such an entity holding 10% or more on the 3rd page.
• A copy of the PAN and address proof with self-attestation of all the shareholders of such an entity holding 10% or more.
• Latest shareholding pattern (on the company letterhead) of such an entity holding 10% or more, with the signature of the whole-time director or individual promoters.

In-person Verification (IPV)

As part of the mandatory IPV requirement for all brokers, the authorised person must complete the verification. The verification can be done online or offline. To do it offline, the authorised person must visit a RNSPL branch office, or a representative of RNSPL would be required to visit the offices or residences of the client to complete the IPV procedure. Once all the documents are ready, e-mail the soft copy of all the forms to ops.securities@roinetsecurities.in. The forms will be reviewed in case any corrections are required.

Courier all the documents to:

DGB-08-011, Tower B, Emaar Digital Greens Building,
Golf Course Extn Road, Sector 61, Gurgaon-122011 Haryana.

For ROI NET Securities Private Limited

Vivek Gupta
(Designated Director)span>
DIN No-07907604