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Documents Required for Sub Broker Registration

You might be gearing up to begin your journey as a sub broker. Understanding the formalities, selecting the stock broker and making payments are all important steps. However, these formalities also include submitting official documents to the respective authorities.

The paperwork will include your identity proof and address proof. Let’s delve into the details of the vital documents required for sub broker registration that will help you ease your sub brokership journey.

Importance of Understanding Sub Broker Eligibility

It is important to understand the eligibility requirements of a sub broker. You will encounter these regulations while selecting the stock broker you want to collaborate with. Understanding these rules will help you narrow down all the documents you require.

The basic eligibility criteria to become a sub broker includes the following regulations –

  • Must be above 21 years
  • Must have completed senior secondary school education (class 12)
  • You need to be an Indian citizen
  • The applicant must not have any past criminal history or ongoing cases against them about financial fraud
  • Defaulters in other stock trades are not eligible

To work as a sub broker, it is also necessary that you are no longer associated with a registered sub broker franchise. Besides these basic eligibility criteria it is advisable that you go through the sub broker eligibility in detail. Also the eligibility criteria might differ slightly according to your preferred stock broker.

So, if you fulfill the eligibility rules of a particular stock brokerage firm, ask their executives about the required documents for registration.

Registration Form

The primary document that you need is the sub broker registration form. It will consist of the basic information about the applicant. Make sure the data you enter is factually correct and matches other official documents like address proof.

Then you will require a copy of the agreement between you and the stock broking company, signed by both parties. Other additional documents include a third-party reference letter, declaration of non-conviction and paperwork confirming the sub broker is not associated with any trading member.

It’s recommended to talk with the government authorities like SEBI and stock broker professionals to learn about the appropriate list of documents.

Address Proof Documents

Selecting and submitting address proof documents and the registration form is important. The information in these documents must match that of the form.

The following documents can validate the authenticity of your residential details –

  • Electricity bill
  • Ration card
  • Passport
  • Telephone bill
  • Driving license
  • Last month’s bank statement from a government bank

Academic and Professional Documents

Submitting your academic and professional documents is also vital for registration. So, submit your class 12 pass certificate and graduation documents. If you have completed your Master’s degree, share those documents.

However, if the applicant has not completed/passed their class 12 examination, professional experience documents will apply. Then, the candidate has to submit corporate experience of at least 2 years in the stock market, associated with a registered broker.

In addition, if you have prior work experience as a sub broker, relevant documents might be required during the registration process.

Proof of Identity

Lastly, submission of identity proof documents is a must for sub broker registration. These will consist of the following –

  • Aadhar card
  • PAN card
  • Voter ID card
  • Passport
  • Driving license
  • Ration card

You might have to submit copies of some of these documents to verify your identity. Like the other documents mentioned earlier, the data in this identity paperwork must match the registration form’s data.

The Bottom Line

By now, you must’ve understood how to become a sub broker in India with the correct documents. To ensure your application process is smooth, gather the essential documents beforehand. Store them separately, so they do not get misplaced.

After the broker and SEBI analyze the documents, they will declare them accurate. Based on the result, your registration process will move forward. So, if you update some data in these documents, properly incorporate them in the registration form.

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