In order to start mutual fund advising business, you need to first take up the NISM-Series-V-A: Mutual Fund Distributors Certification Examination.
Once you have cleared the exam you need to register yourself with Association of Mutual Funds of India (AMFI) to get your ARN and EUIN. You can apply for ARN and EUIN online, as well by following this simple procedure:
STEP-1: You need to go to the AMFI website, http://www.amfiindia.com
STEP-2: Now, you need to go to ‘Distributor’s Corner’
STEP-3: Now, click on ‘Online Registration/Renewal’
STEP-4: On the appeared window, click on ‘Register’ button and select ARN option
STEP-5: On the appeared window, you need to select your ‘Tax Status’ as ‘individual’ and ‘Your Category’ as whether you are a ‘senior citizen’ or ‘individual’
STEP-6: Now you need to fill in all the mandatory fields with your Name, PAN number, Aadhar Number and Mobile Number, please ensure that the mobile number you entered is registered with Aadhar. Now click on the ‘Check’ button
STEP-7: Now you need to upload the scanned copy of your PAN card, Aadhar and NISM certificate.
If you are a Company or a Bank you are also required to enclose-
- Memorandum & Articles of Association (If photocopy then attested by the Co. seal with signature & AMC Branch).
- Board Resolution mentioning distribution of Mutual fund products in original / photocopy, (If photocopy then attestation should be done by Co. seal with signature and AMC Branch) Board Resolution should be signed by all the Signatories or Company Secretary. Authorized Signatory List should include Mode of Operation.
If you are a Partnership Firm or a Trust you are also required to enclose-
- Partnership/Trust Deed
- Partnership/Trust resolution mentioning distribution of mutual fund products in original/photocopy,(If photocopy then attestation should be done by partnership firm/trust seal with signature and AMC Branch) Partnership/Trust Resolution should be signed by all the Partners/Trustees. Authorized Signatory List should include Mode of Operation.
STEP-8: Now you will receive an OTP on your registered mobile number and you need to enter the same, in the appropriate field, on the displayed window and click on ‘submit’
STEP-9: On the window so displayed, you need to correctly enter your mobile number, Date of Birth and email id and click on ‘next’, other fields will be filled automatically on the basis of your Aadhar Card and PAN Card details. Click ‘Next’ to continue.
STEP-10: Now you need to enter your Bank details such as- Account Number, Account type, Bank Name, Branch name, NEFT/ IFSC code etc. and educational details such as- qualifications, Year of Passing, Passing University etc. correctly. Now click on ‘Submit’
STEP-11: At last, you need to pay the registration fees by selecting appropriate payment option and clicking ‘Pay now’ button.
Now you can tie up with any company and sell or distribute their products and earn commission on the same.