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How to open a demat account for an individual?An important step in understanding the dematerialization of securities is how to open the demat. Dmat opening involves some basic steps. Furthermore, if all your documents are in place then the opening of your demat account will take a couple of days. Below are some important measures that you require to remember while opening a demat account.Step 1 – Identify and select your DP to open a demat accountDP stands for depository participants of India. In India DP’s is the agent of a depository. Two depositories are working in India, viz., NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).  These depositories are institutions to hold your securities in de-mat format. While the depository participants are intermediaries that links depositories with an investor. A DP needs to register under Section 12 (subsection 1A) of the SEBI Actin order to offer depository-related services. Most of the stockbrokers in India have depository participation license. You will need to open your de-mat account only with any of such DP’s and nor directly with the depositories. Now, it is completely your choice to select a DP based on the features they offer. Features like demat charges, nearness to your location and etc. Keep in mind that in general the broker which you choose will open your trading-cum de-mat account. It is always better that you have your trading account and demat account with the same broker. This facilitates all demat process quick and easy like issuance of DIS (debit instruction slips)in case you need to sell your holdings. However, you have the option to choose a different DP and a trading broker. Step 2 – You will require specific documentation and procedure to open a demat accountYou will require mainly four documents for opening a demat account. You will require proof of identity and proof of residence. Besides it, your Income Tax PAN card and Aadhar Card is a mandatory document nowadays for opening a demat account.Depository participants who are mainly your stock brokers accept a variety of documents in lieu of identity proof and proof of residence. Passport, Aadhar card, elector voting card, pension card, etc. can act as your identity proof. For address, you may present an updated passport, current landline telephone bill, property tax assessment, income tax assessment, credit card bill, electricity bill, etc.One thing you need to remember is that all documents must be a self-attested photocopy. Step 3 – You need to sign the DP agreement Along with the documents you will also require to submit the DP agreement. You need to sign each page od this DP agreement. A DP agreement is in between you and your depository participant. Please keep in mind that each DP has its own agreement. The SEBI sets guidelines for such agreements. It contains a long list of rights and obligations for the demat account holder. It is always wise to read the fine print in detail as the devil lies in the details.These agreements also contain a schedule for charges. You must go over it in detail. If you don’t understand any point, don’t forget to discuss it with your brokers’ representatives for clarification before signing and submitting. Make sure to obtain a copy of the agreement and an updated schedule of charges for later reference. You must get yourself acquainted with the demat account opening and demat charges before signing any agreement.Step 4 – Don’t forget to fill nomination along with demat account opening formNot only with your demat account, but also with all your assets especially financial assets you must fill nomination form. Be it your insurance policy, bank account, your fixed deposit or any other asset which is financial in nature, the nomination must be there. Nomination smoothens the means of delivery of your securities to the beneficiaries, upon your demise.Sometimes back when there was no demat account available for physical shares, one needs to avail nomination individually for each company you own shares or debentures. However, when you do nomination for your demat account, all your investments in that account automatically come under that nominatince. So to avoid such mishaps you need not have to sign this POA during applying for Demat account opening. 


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