A Demat account can be opened with a joint account holder, allowing multiple individuals to manage investments together. However, minors are not allowed to be joint holders in a Demat account, as financial regulations require the primary holder to be an adult. This ensures that only individuals who are legally eligible to make financial decisions can operate the account. Additionally, there is no requirement to maintain a minimum balance of securities in a Demat account. Investors can hold any number of shares, making it a flexible option for both small and large investors who wish to manage their securities efficiently.
If you are planning to start investing in the stock market, the first step is to open a Demat account. This account holds all your securities, such as stocks, bonds, and mutual funds, in an integrated electronic format. For new investors, understanding the eligibility criteria and requirements for opening a Demat account is essential. There are specific rules and conditions that must be met before opening an account.

Who Can Open a Demat Account?
Anyone who is 18 years or older can open a Demat account as an individual retail investor. Minors with a PAN card can also open a Demat account, but it must be managed by a guardian. Apart from individuals, different entities such as Non-Resident Indians (NRIs), Hindu Undivided Families (HUFs), partnership firms, Limited Liability Partnerships (LLPs), public and private limited companies, trusts, and societies are also eligible to open a Demat account. This allows various types of investors and organizations to hold and manage their securities in a secure electronic format.
Documents Required to Open a Demat Account
To open a Demat account, certain documents are necessary. A PAN card is mandatory for all applicants. For Non-Resident Indians (NRIs), a Portfolio Investment Scheme (PIS) approval letter from the Reserve Bank of India (RBI) is required, and the Demat account must be linked to an NRE/NRO bank account. Companies need to provide a Certificate of Incorporation, Memorandum of Association (MOA), and Articles of Association (AOA).
For identity proof, accepted documents include a Voter ID, Driving License, Passport, Aadhaar Card, or any valid identity card issued by the Central or State Government. For address verification, documents such as a Ration Card, Bank Statement or Passbook, Utility Bills (Electricity, Water, Gas, or Telephone), and the last six months’ bank statement are required.
To verify financial details, applicants may need to submit their latest salary slip, Form 16, a copy of their Income Tax Return (ITR) receipt, Demat holdings statement, Net Worth Certificate, or a canceled cheque/bank passbook for bank account verification. These documents ensure compliance with financial regulations and help in the smooth processing of the Demat account application