If you want to trade stock in share market, at first you have to open a BO account. It is important to have a BO account for stock trading in the stock market.In this article, we are interested to tell you about the procedure and necessary workouts for opening a BO account in stock broker house under Bangladesh Stock Market whether it is under Dhaka stock exchange or Chittagong stock exchange. Our guideline will work for you.
However, You have to open BO account from brokerage houses of Bangladesh share market under stock exchange if you want to trade on the stock market.
I think, you want to open a BO account but before starting the process, it is very important to know, what is BO Account and why it is necessary for starting share market business.
What is BO Account?
The full meaning of BO account is Beneficiary Owners account and you have to open a BO account with the reference of a bank account no.
You have to open a BO account from brokerage houses and brokerage house will register your BO account under a stock exchange market.
Why is It Necessary For A Shareholder?
A BO account is very important for starting share trading business and it is used for stock trading by a brokerage house.
A brokerage house is registered under a stock exchange and for this reason, they can register a BO account.
💞 You can buy and sell shares of listed companies in stock exchanges market with a BO account.
How to Open a BO account?
There are few steps to open your BO account and it is not a very hard task.
At first, you need a bank account for opening a BO account. A BO Account can be opened in two ways such as individually, individual account or single account can be a joint account and the other is a company name.
Three steps are describing below to open your desired BO account in the stock market...
Open a BO Account:
If you want to open a BO Account, you have to fill up the necessary fields in the following forms.
First, you will provide a Customer Account Information Form by a broker and you have to fill up this form properly.
If account holder wants to give the power of attorney to anyone, the nominee has to fill up the power of attorney form properly and later the nominee of the account has to fill up another form and it is call Nomination Form.
Necessary Documents for Opening a New BO Account:
Single Account: 🔁 Photocopy of NID care or National ID card/ Passport. (Must be signed by Account holder).
🔁 Passport Size 3 Copy Photo of Account Holder.
🔁 Passport Size 1 Copy Photo by Power of Attorney. (Must be signed by Nominee).
🔁 Photocopy of National ID card of POA (Power of Attorney). (Signed by account holder and POA).
🔁 All Signatures in all Documents should be same.
*** For Linking Account you have to attach a photocopy of existing BO Account.
Joint Account:
🔁 For Opening Joint Account, You Have To Need All Above Documents of Single Account.
🔁 Passport Size 3 Copy Photo of Joint Holder.
🔁 National ID card 1 photocopy of Joint Holder.
For A Company:
🔁 Trade License of the Company.
🔁 TIN (Tax Identification Number) Certificate Photocopy.
🔁 Passport Size 3 Copy Photo and National ID card of Authorized Person.
🔁 Passport Size 1 Copy Photo of Nominee. And
🔁 Bank Certificate.
Some BO Account Form that above described. We have given BO Account Form to Download. Please, Download All Forms from Below.
🔺 Customer Account Information From
🔺 Nominee Form
🔺 POA (Power of Attorney) Form
🔺 BO Account Opening Form
🔺 BO Account Nominee Form
🔺 Terms and condition
🔺 CDBL Agreement
I think, now you are able to do how to open a BO Account for share market in Bangladesh by reading this post and if you think that it is very important who are doing business in share market, you can share this post with your friends.
💞 Newbie Stock Trader Tip: Remember opening a BO account on the stock broker house is the beginning of your stock trading experience.
So, it is an identity of a successful trading experience having trade by acquiring proper knowledge and gaining analytical ability.
