To get started on DSPP / DRIP investing, you’ll need the following:

• An account with a Transfer Agent, like Computershare or Shareowner Online. Of course, the account would be with the Transfer Agent of the company whose shares you want to purchase. Generally, the account is created as part of your first investment in the company.
• A bank account so that money for investing and money from your investments like capital gains and dividends can be transferred back to you. The bank account would be linked to your DSPP/DRIP account with the Transfer Agent.
• A tax ID, like a Permanent Account Number (PAN) and Aadhaar numbers in India, or Social Security Number (SSN) in the US, or Social Insurance Number (SIN) in Canada etc. This will enable the Transfer Agent to know that you are a valid person, and for tax management and reporting for your account and activities to the government. Mind you, this is not a number to keep tab on you, so don’t panic :). There are tax implications on dividends, sales of stock, etc. that the Transfer Agent is supposed to execute on behalf of the government, and to abide by the laws in your country.
• A physical address where you can be reached for mailings etc.
• An email address where you can be reached via electronic communications. Remember, when you buy stock in a company, you’re now a part owner in the business. Thus, every year you get a chance to cast your vote on the affairs of the company as called out / proposed by the management of the company or by a shareholder or group of shareholders. The physical and email addresses are where such communications are sent to you by the Transfer Agent on behalf of the company to advise you of the proposals, the voting period, etc.

Next: Preparing to invest