For Residents

Thank you for considering Banyan Tree Advisors for your investment needs.

This page is designed to guide our prospective resident clients through the account opening process with clarity and ease. If you’re uncertain about your residency status for investment purposes, we recommend referring to the Income Tax website for clear guidelines. Understanding your residency status is a crucial first step in the account setup process.

Opening an account with Banyan Tree Advisors is a fairly simple process, but it does involve some paperwork, which is mandated by various legal and regulatory frameworks. But there’s no need to worry – our team is dedicated to making the paperwork process straightforward and stress-free for you. A knowledgeable advisor from our team will always be available to assist you, ensuring all steps are completed correctly and efficiently.

If you live in Mumbai or Bangalore, we can arrange for a member of our team to visit you personally, helping you through each step of the process. For those residing outside these cities, we are fully equipped to assist you through email or video calls, ensuring that no matter where you are, you receive our full support.

Broadly, the process for opening an account with us involves completing the following steps:

1. Sharing documents that establish your identity and address, such as your Aadhaar, PAN card, Passport or Voter ID, and photographs.
2. Completing the paperwork required to set up your PMS account with us.
3. Completing the paperwork necessary for HDFC Bank Custodial Services to open your bank and demat accounts. A member of the bank’s team will visit you to help you complete this step.
4. Once you have completed these steps, your investment journey with Banyan Tree Advisors starts when you transfer your investment amounts to your newly created bank account.

This process is usually completed within seven business days, but may take longer if there are issues with your documents, or if there are unexpected delays at the end of HDFC Bank.

At Banyan Tree Advisors, we believe in maintaining transparent and regular communication with our clients. To ensure you are always informed and up-to-date with your investments, we provide a comprehensive suite of reports and updates. Here’s what you can expect in terms of communication and reporting:

From Banyan Tree Advisors:

1. Notifications for any Fund/Securities transfers made by you to your PMS account.
2. Monthly Reports: A detailed Portfolio statement by the 3rd working day of each month.
3. Quarterly Advance Tax Data: Capital gains, Interest, Dividend information for advance tax purposes, provided by the 12th of each quarter-ending month.
4. Annual Tax Filing Report: An audited report with relevant data for India tax filing, provided by May each year, including details like capital gains, interest, dividends, TDS, securities at cost, bank statement, broker ledger, etc.
5. Annual Billing/Fee Report: An audited fee calculation report provided annually on the anniversary month of your account opening. For example, if your account was opened in January 2019, your billing period will be January 2020, and the fee report will be sent in February 2020.
6. Event-based and ad-hoc communication: This includes updates related to share buybacks, IPOs, Re-KYC notifications (if if required by the bank/broker), and any other regulatory/account-related updates.

From HDFC Bank:

1. Net Banking Access: Login ID & Password sent by HDFC Bank to the client’s registered address for access to savings and demat accounts.
2. Bank & Demat Statements: Emailed monthly for the bank account and quarterly for the demat account.

Staying informed about your investments is crucial, and at Banyan Tree Advisors, we ensure you have all the necessary information at your fingertips. Our reporting is designed to keep you well-informed, helping you make sound decisions with confidence.

If you have more questions our FAQ section is a good starting place. It addresses a wide variety of topics and is constantly updated.

Ready to start your investment journey with Banyan Tree Advisors?

Fill the form below and our business development team will get in touch with you within one business day. They will also be able to answer any further questions you may have.