Can an account be opened in the name of a sole proprietorship firm?
Yes, an account can be
opened in the name of a sole proprietorship firm. The process is similar to
opening an individual account but with some additional requirements.
Steps to Open an Account:
- Online Onboarding Process
- Visit online
platforms such as 5paisa.
- Complete the
onboarding journey online, similar to the individual account process.
2. Required Documentation
- In addition to
the standard documents needed for individual accounts, sole proprietorship
firms must submit proof of the proprietorship bank account.
- The bank proof
must mention both the name of the proprietorship firm and the name of the
proprietor.
By following these steps
and providing the necessary documentation, clients can successfully open an
account for their sole proprietorship firm.
Related Articles
Can an NRI account be opened online?
As per the guidelines issued by RBI, an NRI account can be opened online by visiting the respective banks' websites, such as SBI. The user needs to fill out an application form online and send it to the Global NRI Center in India for account opening ...
How do I change my name on my account?
To change your name on your 5Paisa account, you will have to contact 5Paisa support. Email support@5paisa.com with the subject line: “Name Update in 5Paisa Account.” After our team reviews your request, you will be asked to send some vital documents ...
Can a trading account be opened without opening a demat account?
No, 5Paisa does not allow a trading account to be opened without opening a demat account. This is due to the following reasons: A demat account is necessary to settle open equity intraday positions each day that takes place in a trading account. A ...
Where can the DP name be viewed?
To view the DP name easily, you need to login into your 5paisa account and navigate to https://emodify.5paisa.com/customer-dashboard/client-profile Once you are on the page, you will see the DP details, including the name (5paisa Capital Limited).
What is the procedure to change or correct the name in the 5Paisa account?
To change or correct the name on your 5Paisa account, please follow the offline process outlined below: 1. Write an email to support@5paisa.com with the subject line: "Name Update in 5paisa Account". 2. Our team will review your request and ask for ...