Demat account in Nepal is a dematerialized account in short. This account is used to perform investment and trading in Nepal. A Demat account can be available to the customer from his/ her bank.
A capital bank or investment bank is involved to provide you with a unique materialized account. Demat account is also called BOID in short.
Demat Number in Nepal |Demat Account in Nepal
Beneficial Owner Identification Number (BOID) is a unique number in Nepal of the form 13XXXXXXX-XXXXXX. BOID is a unique 16 digit identification number given to the Beneficial Owner (BO) which is generated only when BO opens the Demat account in CDSC through an authorized DP.
It must be mentioned in all future transactions. BOID cannot be duplicated. It means two BOs cannot have the same BOID which replicates that the securities cannot be transferred into the wrong account.
Global IME Demat Account Online | BOID Meaning in Nepali
BOID means Beneficial Owner Identification Number (लाभदायक धनी पहिचान नम्बर ) in Nepali. It is also called dematerialized account/ Demat account number in Nepal.
A Depository Participant (DP) provides you with a 16 digit unique identification number. Your bank must have the capital or investment bank department to provide a Demat number.
A Demat number is given by your bank to you when you are processed to open from its capital or investment bank.
For example: If you are a customer of Global IME bank limited and you have opened a Demat account from it, the bank provides you with a Demat number which is registered by the capital or investment head bank of your general bank.
The investment bank of Global IME Bank, Nabil Bank, etc, and most of the investment and capital banks are located at Naxal, Kathmandu.
Free Demat Account in Nepal 2021
To open Demat accounts in Nepal. You can use one of the two methods,
(i) From your bank
Using your bank, you can open your Demat account. For that you can follow the below steps:
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Online from Bank’s website
Some of the banks in Nepal provide the facility to do most of the services electronically online from their websites.
They have added new features of filling forms online and submitting the documents by uploading them on the online forms. Here, some examples of banks that provide online Demat account opening services online are:
Global IME Bank Limited, NIC ASIA Bank Limited, Nabil Bank Limited, etc. But, some other banks that are not listed here also may provide such services online. please visit their websites manually.
To open a Demat account from the online websites of banks. Please do the following tasks;
- Go to your bank website
- Find the e-services/ online service/account opening section.
- Click on the Demat Account Open.
- Fill up the form details and upload the required documents.
- Submit the form.
Note: You may require a valid email account for opening a Demat account for sending you your BOID and CRN details. Please create it first and then proceed with the Demat account opening form. Similarly, you can also request to open a Meroshare account also.
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Visiting Banks physically
You can also visit your bank’s nearest branch to open your Demat account. Similarly, for opening the Demat account you may require a passport size photo, an original citizenship certificate.
- Fill up the Demat account opening form
- Attach the passport size photo in it.
- Make a copy of your original citizenship certificate and attach it with the form.
- Include your fingerprints and signatures in the form with a valid map to your house.
- You may also require a Nominee (Sakshi) if your bank asks.
- Submit the form in reception.
You will be charged NRS 100 for Demat opening and NRS 50 for your meroshare account. That’s why? you will be instructed to deposit this fee on the Capital’s account directly from the bank.
Keep the voucher and receipt with you safely. You need to visit your bank physically and CRN with BOID must be received by you manually.
Remember: Always try to open an account from those C-ASBA banks which do not charge you ASBA charges. Some banks in Nepal are charging people NRS 10 to NRS 20 for their transactions as ASBA charges in each IPO apply. This will make you uncomfortable until you apply more than 7 IPOs but are not allotted in any of them.
Free Demat account opening in Nepal
(i) From the securities broker
You can also open your Demat account from the securities brokers’ office in two ways.
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Online from securities broker’s website
Opening a Demat account with a broker is very easy. Hence, you need to just go to the securities brokers’ online website and find the Demat opening form same as you did before on the bank’s website.
- Go to the Security brokers website.
- Click on the Demat Account Opening Form.
- Fill in all the details in the form
- Upload all the required documents.
- Confirm your details.
- Submit your form.
You also need a valid email address for this purpose. It is because the BOID and CRN are associated with your account will be sent to you through those email addresses.
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Offline or visiting broker’s office
You can also visit the broker’s office nearest to your location to open your Demat account. Thus, for opening the Demat account you may require a passport size photo and an original citizenship certificate.
- Fill up the Demat account opening form
- Attach the passport size photo in it.
- Make a copy of your original citizenship certificate and attach it with the form.
- Include your fingerprints and signatures in the form with a valid map to your house.
- You may also require a Nominee (Sakshi) if the securities broker’s company policy needs/ asks.
- Submit the form in reception.
You will be charged NRS 150 for Demat opening and NRS 50 for your meroshare account. So, you will be instructed to deposit this fee on the Capital’s account directly from the bank. Therefore, keep the voucher and receipt with you safely.
You need to visit the security broker’s physically so that CRN with BOID must be received by you manually.
FAQ:
Which IPO is coming next in Nepal?
The next coming IPO in Nepal is Reliable Life Insurance Ltd.
