What documents do I need for SEBI investment adviser registration as an individual?

BSE Limited acts as the Investment Adviser Administration and Supervisory Body and runs one membership portal and one Form A for advisers and analysts. The list below follows that form. The slot layout and what BSE accepts in each slot are practice we have seen on filings, so pull current formats from the form on the day.

Identity and entity

• PAN with upload, and Aadhaar (last four digits with an upload).
• A Shops and Establishments registration. Individual filings need one, so arrange it first.
• GST declaration on letterhead in the prescribed format, if you are registered for GST.
• A self-attested PAN copy in the income tax return and net worth slots, which the form still carries. That is what we have seen accepted.
• A declaration that your name is as per your PAN. BSE asked for one on a recent adviser filing.

Addresses and infrastructure

• Address proofs for correspondence, registered office, principal place of business and billing, with a confirmation that they are in your name.
• Ownership document for the premises, or a rent agreement with a no-objection letter from the owner.
• Evidence for each infrastructure line: office space, equipment, communication, computer hardware and software.

Qualification and certification

• NISM-Series-X-A and X-B certificate proof.
• Self-certified qualification and experience documents.
• The regulation 7 declarations on qualification and certification.
• Details of your other business or job, if you apply part-time. The adviser circular does not ask a teacher or professor for an employer NOC. The research analyst circular does.

What an adviser filing adds

On a recent adviser filing, BSE asked to see the risk profiler as a working questionnaire, and checked that the applicant's LinkedIn profile matched the current activities declared in the application. Sort out both before you upload. Risk profiling and the client's consent on the completed profile come before any advice, so the questionnaire you file is the one you will use with clients.

Declarations and write-ups

Fit and proper and disputes declarations, a write-up on current activities, details of the advisory services you propose, a conflict of interest policy and standard disclosures. Each goes on letterhead, signed and dated. Prescribed annexures stay in the prescribed format with no edits.

Bank and fees

A business bank account with proof. SEBI's fees for an individual adviser are ₹2,000 on application and ₹3,000 on registration for the first five years. The deposit starts at ₹1 lakh for up to 150 clients, and BSE charges its own administration fee on top.