Demat Account is used to hold shares and securities in electronic format. It stands for the dematerialised account. The main goal of opening this is to keep shares that have been purchased or dematerialised (converted from physical to electronic shares). The dematerialisation of shares eliminates the risk associated with physical certificates and eases user for the online transaction.
Opening the DEMAT account is mandatory for all types of shares transaction in Nepal. Here is a complete article about opening DEMAT Account in Nepal and a list of DEMATE Form Link of different banks of Nepal.
Benefits of Opening DEMAT Account
1) It gives fast & easy access to your investments and statements through online banking.
2) Eliminates risks associated with the physical certificate such as thefts, losses, or damages.
3) It is time-saving as securities are stored in a dematerialized form.
4) Reduces costs, such as stamp duty, handling charges, and other such expenses.
5) Easily accessible through the Internet using a computer, smartphone, etc.
6) Easy Share transfers and highly secure & speedy.
7) Immediate transfer of securities, settlement cycle, and distribution of shares allotted in IPO.
8) Easy in portfolio management and pledge of securities.
How to open a DEMAT Account in Nepal?
The process of opening a Demat account is very simple and easy. It is similar to opening a bank account. You can open this through Depository merchant banks, broker companies and Participants (DP) offering DEMAT services to its clients.
There are many banks in Nepal where you can open a DEMAT account. Some namely Everest Bank Ltd., NABIL Investment Bank Ltd., Global IME Bank, NIBL Capital Markets Ltd., etc. It costs about Rs. 150 for opening an account and Rs. 100 for its renewal every year.
To Open a DEMAT account to store company shares in Nepal, follow these steps:
1) Choose a particular bank that provides this service and visit the online portal.
2) Get the form Online or through the bank directly and fill-up it dually.
3) Attach Nepali Citizenship and Photograph with it.
4) After verification from CDSC, you will receive a 16 digit DEMAT account number from your respective banks.
After opening the DEMAT account, you can now submit your physical share certificates to the place where you opened your account. It will be converted and stored in a digital form.
List of Banks with online form offering DEMAT Account:
There are different banks which offer online Demate registration and also offline. Here’s the DEMAT Form Link of different banks which you can fill up online or offline as per the service provided by the bank.
|S.N.||Name of Bank||DEMATE Form Link|
|1.||BANK OF KATHMANDU LIMITED||Click Here|
|2.||CITIZENS BANK INTERNATIONAL LIMITED||Click Here|
|3.||CIVIL BANK LIMITED||Click Here|
|4.||EVEREST BANK LTD.||Click Here|
|5.||GLOBAL IME BANK LIMITED||Click Here|
|6.||HIMALAYAN BANK LTD.||Click Here|
|7.||KUMARI BANK LTD.||Click Here|
|8.||LAXMI BANK LIMITED||Click Here|
|9.||MACHHAPUCHCHHRE BANK LIMITED||Click Here|
|10.||NABIL BANK LIMITED||Click Here|
|11.||NEPAL CREDIT AND COMMERCE BANK LTD.||Click Here|
|12.||NEPAL BANGLADESH BANK LIMITED||Click Here|
|13.||NEPAL BANK LIMITED||Click Here|
|14.||NIC ASIA BANK LIMITED||Click Here|
|15.||NIBL CAPITAL BANK LTD||Click Here|
|16.||NMB BANK LTD||Click Here|
|17.||PRABHU BANK LTD||Click Here|
|18.||PRIME COMMERCIAL BANK LTD||Click Here|
|19.||SANIMA BANK LIMITED||Click Here|
|20.||SUNRISE BANK LIMITED||Click Here|
This is all about opening a DEMAT account in Nepal. Select the suitable bank from the list and apply for your DEMAT account. If Still You have any doubt or any problem let us know in Comment Section.
You can go through this article if you want to know about SWIFT/BIC codes and a list of SWIFT/BIC code of different banks of Nepal.