Minor Demat Account: He/she can invest in the stock market if you too wish to make a financial commitment to your child’s future. Minors under the age of eighteen are also permitted to open a demat account in the nation through the market regulator SEBI, but their parents will manage this account.
Documents Needed
- To open a demat account of a minor, PAN card of the parent will be required. Signatures can be done both online and offline. For this, Aadhar card of the parent will be required.
- Residence certificate of parents – Aadhaar card, passport, driver’s license, voter ID card or any other document will be valid.
- Passport size photographs of parents and minor.
- Birth certificate of minor
Introduction to Minor Demat Accounts
You must open a demat account if you wish to invest in the stock market as well. A Minor Demat Account is required if a parent want to make stock market investments in their child’s name.
It is permitted for minors under the age of eighteen to register a demat account, but the account would be managed by the parent, according to the Securities and Exchange Board of India, or SEBI, the nation’s market regulator. The parents may only manage this account until the youngster becomes eighteen (18), per the rules. After the child becomes eighteen, the account will be transferred to him.
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