A Demat account is an account to hold financial securities in electronic form. It holds shares in digital forms. The CDSC provides 16 digits Boid number which is required in the process to open a Demat account.
Things you need to open a Demat account:
1. Photocopy of citizenship along with three generations of details.
2. Passport size photo
3. In the case of the minor, the guardian should submit a photograph of the minor along with a photocopy of the birth certificate of the child and the guardian’s citizenship.
Process of Opening a Demat account:
1. The one who is going to create a Demat account should submit legal documents to open it. It is similar to the documents required to open a bank account.
2. The investor or account creator should also fill out the form of KYC and submit it.
3. The creator should fill in the details of Meroshare.
4. Afterwise, CDSC verifies the entry of DP and provides the verification letter to the beneficiary.
5. The account creator should receive the BOID number. (It may take 4-5 days)
6. You will receive your MeroShare credentials via email provided in the MeroShare application form.
7. You have successfully created your Demat account
Charges for creating a Demat account in Nepal
It costs Rs. 50 to create a Demat account. It costs Rs 100 per annual. So you may have to pay Rs.150 at the time of creating your Demat account.
Can a Demat account be create online in Nepal?
Some banks allow you to fill out the form of a Demat account online. You can search for Banks and financial institutions to provide such services in Nepal. Fill out that form and submit an application form from their website and you can apply for a Demat account online.