Can I open a sole proprietorship account at Zerodha?
There is no concept of a trading and DEMAT account for a 'Sole Proprietorship' as it is not a separate legal entity. So the trading and the DEMAT account will be opened in the name of the individual.
However, the bank account linked to this trading account can be in the name of the proprietorship based on the confirmation by the respective bank.
If the bank statement contains the details of both the proprietorship firm and the proprietor, it is proof enough to link this bank account to the proprietor's trading account.
If the bank statement doesn't contain the above-mentioned details, then the client has to provide us with a confirmation letter from the respective bank. Click here for a sample confirmation letter format.