Yes. Along with an individual account, you may open an account in a company, trust, superannuation or joint account. Different identification documents will be required for each account type.
Here’s the link where you can register for other types other than individual:
SUPERANNUATION
What documents do I need to open an account with my superannuation fund?
To open with a Super Account, you’ll need a Full Copy of Trust deed, ID and Address documents for Trustees and Beneficiaries and if the company is the trustee, ASIC extract and certificate of incorporation is required.
JOINT ACCOUNT
I want to open a joint account with you guys. However, I want to be the primary user of the account and only allow my partner to have limited access to our account. Can you make that happen?
A joint account is owned by two account holders, that's you and your partner, and can be used by either one of you. Both of you will be having the same login details, so both of you have the same access too.
If you like to give your partner limited access to your account, I suggest you open an individual account instead. You will be given your own login, and you will be the primary user. We can give your partner limited access using an investor password. This password allows your partner to login into your account in a read-only format, meaning he can see your trades but cannot open or close any trade. He won't be able to change anything.
To sign up for an individual account, just fill in the details on this link then upload one government photo ID like your passport then a proof of address, e.g. utility bill
What documents do I need to open a company/corporate account?
You will need the following documents also for corporate / trust.
Certificate of Incorporation
Article of Association
The List of members/directors/shareholders
Trust Deed (for trust account only)
Finally, all members/directors/shareholders need to provide proof of ID and proof of address documents also.
Do you have a LEI number? You will need this for the trading account also, as the regulations changed not too long ago, and these are required for corporate accounts.
If there are individuals that own less than 25% of the shares, we still need to verify them as we would anybody else.
Let's go through an example to highlight what we need to do:
Example1
Company A has the following shareholder structure:
John Doe - 40%
Steve Smith - 20%
Allan Smith - 10%
Smith Holdings Pty Ltd - 30%
In this instance, we need to obtain all the ID from the 3 individuals. We also need all of the company information for Smith Holdings Pty Ltd and verify who the beneficiaries of this entity are right down to the point where we have gone through every layer of ownership to just get down to the individuals behind it.
Example 2:
Jane Smith- 40%
Steve Smith - 20%
Bruce Smith - 30%
Smith Holdings Pty Ltd - 10%
In this instance, we still need to obtain all the ID from the 3 individuals. We also still need to obtain all of the company information for Smith Holdings Pty Ltd BUT, we don't need to keep going until we get down to the end individuals.
Let's assume that the structure of Smith Holdings Pty Ltd is as follows:
Smith Holdings Pty Ltd:
Steve Smith: 20%
Smith Corporate Trust: 80%
In example 1, we would need to obtain all of the ID for the Smith Corporate Trust. Details like their directors, trust deed, shareholders, etc. This is because Smith Holdings Pty Ltd held more than 25% of the applying company.
In example 2, Smith Holdings Pty Ltd only held 10%. Therefore, we still need the documents for Smith Holdings Pty Ltd (as we would need ID for an individual owning any stake in the company), but we do not need the documents of Smith Corporate Trust. We can stop the verification process there.
In summary: We always need to verify the owners of the corporate account that is applying for the account. Whether their ownership be 2% or 100%. The only difference will be if it is a company and it holds less than 25%, we still need to verify the company itself (certificate of incorporation, articles of association, list of directors/shareholders) but we do not need to keep going down the verification process if there are more layers of ownership.