How to Open a BO Account in Bangladesh
Opening a BO account is the first step to start trading in the stock market in Bangladesh. The full meaning of BO account is Beneficiary Owners account. If you want to start investing and stock trading in the stock market in Bangladesh then you need to open a Beneficiary Owners account.
The BO account is the type of account where you can buy and sell your stocks. It is easy to open in Bangladesh. But the most important fact is, you have to choose the right broker house to open your BO account.
In general, there are two types of Beneficiary Owners account are available in Bangladesh. One is Individual/joint BO and another one is NRB (Non-Residential Bangladeshi). Besides, there is also another account is called link BO that is used to less. As you general investor you need to open individual BO account. A person can open two Beneficiary Owners account in his lifetime. Single/ Individual account and next one is the joint account.
The supporting documents you need to open a BO account in Bangladesh
- 3 copies passport size photo of the account holder.
- 2 copies passport size photos of the nominee of the account holder.
- If you want to give authority to someone of your account, then you need to provide his/her 2 copies passport size photo.
- Account holder’s bank certificate/deposit slip.
- Fresh photocopy of your NID/Driving License/ Passport Copy.
- Agreement paper on service/residence permit/visa copy (for NRB)
- Foreign currency Bank account confirmation (for NRB)
Process to Open a BO account in Bangladesh
Along with these document, you will go to your selected broker house and they will the rest. Usually, it takes 2 or 3 business days to open your Beneficiary Owners account. While your account is ready the broker house will knock you. This is the simple as that and you are ready to invest in primary and Second stock market in Bangladesh.
Therefore, you needs to pay 500 BDT for each account to maintain renew CDBL charge every year. The broker house will help you in this case.