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Account Opening

How can a Portfolio Management Services (PMS) firm open an account as a corporate entity?

A corporate account can only be opened offline, unlike resident individual accounts that can be opened online. PMS firms can only trade in equity cash and F&O segments.

The documents required to open a corporate account depend on the company and the director's KYC status. To learn how to check the KYC status, see What is Know Your Customer (KYC), and how can it be checked?

Table of contents

KYC of the company and the directors are not registered

The table below shows the documents required if the KYC of the company and the directors are not registered:

Type of document Requirements
Application form
  • Trading application form (PDF).
    Sample trading form (PDF).
  • Most Important Terms and Conditions (PDF).
  • Refer to the signature guidelines (PDF) to learn how to sign all the forms.
Foreign Account Tax Compliance Act (FATCA) declaration
Account opening annexures
PAN
  • A PAN copy of the company with the seal and signature of the authorised signatory or director.
  • Self-attested individual PAN copies of all the authorised signatories or directors.
  • Additional PAN copy of the authorised signatories with company seal and signature.
Address proof
  • Address proof in the company's name with the seal and signature of the authorised signatory or director. The proof can be any of the following: certificate of incorporation, the latest month's transaction copy of bank statement, utility bill, Ministry of Corporate Affairs (MCA) copy, or lease or rent agreement.
  • Self-attested individual address proof of all the authorised signatories or directors. If an Aadhaar is being submitted as proof, ensure that a masked Aadhaar is submitted. To learn how to get the masked Aadhaar, see How to download masked Aadhaar?
  • Additional address proof copy of the authorised signatories with company seal and signature.
Individual KYC form
  • Each authorised signatory or director must sign an individual KYC form (PDF). The director must sign without the stamp on the individual KYCs and the supporting documents.
Certificate of incorporation
  • A copy of the certificate of incorporation with the company seal and signature of the authorised signatory or director.
Memorandum of Association (MOA)
  • The Memorandum of Association (MOA) of the company, with authorised signatory or director seal and signature on the first 4 pages. If the director details are missing, an additional FORM-32 or DIR-12 copy must be submitted.
Articles of Association (AOA)
  • The Articles of Association (AOA) of the company, with authorised signatory or director seal and signature on the first 4 pages. If the director details are missing, an additional FORM-32 or DIR-12 copy must be submitted.
Balance sheet
  • A copy of the latest two financial years' balance sheet with the seal and signature of the authorised signatory or director must be submitted every financial year after the account is opened. The balance sheet must be attested by a Chartered Accountant (CA) and have the CA's name, CA company name, member registration number (M.NO), UDIN, date, and city. The balance sheet must be attested by a CA and have the CA's name, CA company name, member registration number (M.NO), UDIN, date, and city. Sample balance sheet (PDF).
Net-worth certificate
  • If the company is newly incorporated, a net-worth certificate from a Chartered Accountant (CA) must be provided. It must also have the UDIN number. An income tax declaration (PDF) on company letterhead with an authorised signatory or director's seal and signature.
Bank account proof
  • A bank account proof of the company for linking with Zerodha. The proof can be any one of the following:
    • Personalised cancelled cheque with the company name printed on it.
    • A bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
Client Master Report (CMR)
  • Provide a copy of the custodian demat account CMR.
CP allotment letter from the exchange
  • Provide a copy of the CP allotment letter from the exchange.
SEBI certificate
  • Provide a copy of the SEBI certificate.

KYC of the company and the directors are registered

The table below shows the documents required if the KYC of the company and the directors are registered:

Type of document Requirements
Application form
  • Trading application form (PDF).
    Sample trading form (PDF).
  • Most Important Terms and Conditions (PDF).
  • Refer to the signature guidelines (PDF) to learn how to sign all the forms.
Foreign Account Tax Compliance Act (FATCA) declaration
Account opening annexures
  • Board resolution on the company letterhead (PDF).
Balance sheet
  • A copy of the latest two financial years' balance sheet with the seal and signature of the authorised signatory or director must be submitted every financial year after the account is opened. The balance sheet must be attested by a Chartered Accountant (CA) and have the CA's name, CA company name, member registration number (M.NO), UDIN, date, and city. The balance sheet must be attested by a CA and have the CA's name, CA company name, member registration number (M.NO), UDIN, date, and city. Sample balance sheet (PDF).
Bank account proof
  • A bank account proof of the company for linking with Zerodha. The proof can be any one of the following:
    • Personalised cancelled cheque with the company name printed on it.
    • A bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
Client Master Report (CMR)
  • Provide a copy of the custodian demat account CMR.
CP allotment letter from the exchange
  • Provide a copy of the CP allotment letter from the exchange.
SEBI certificate
  • Provide a copy of the SEBI certificate.

Ultimate Beneficial Owner (UBO)

An individual is identified as an ultimate beneficiary if they have shareholding, capital or profits of 10% or more in the company. They are required to submit the UBO annexure (PDF).

In case no individual is identified, the senior managing official may be considered as the UBO, and the following documents are to be submitted:

  • A copy of the UBO annexure (PDF) with the UBO signature and the authorised person's seal and signature on the 3rd page if an individual holds 10% or more.
  • A self-attested copy of the PAN and address proof of those holding 10% or more.

If an entity has more than 10% of the shareholding, capital or profits in the company. The entity should identify as an ultimate beneficiary and is required to submit the following documents:

  • A copy of the UBO annexure (PDF) with the authorised person's seal and signature and signature of all the shareholders of such an entity holding 10% or more on the 3rd page.
  • A copy of the PAN and address proof with self-attestation of all the shareholders of such an entity holding 10% or more.
  • The latest shareholding pattern (PDF) (on the company letterhead) of such an entity holding 10% or more, with the signature of the whole-time director or individual promoters.

In-Person Verification (IPV)

In-Person verification (IPV) is the process of verifying that the person opening the account and the documents submitted are of the same person. As part of the mandatory IPV requirement for all brokers, the authorised person must complete the verification.

To complete the IPV online, visit signup.zerodha.com/ipv. A 4-digit OTP is generated and shown on the screen. Clients are required to enable the camera and show the OTP while being clearly visible. To learn how to enable the camera. See, How can the camera be enabled for an in person verification (IPV)?

To complete the IPV offline, the authorised person must visit a Zerodha branch office or a representative of Zerodha would be required to visit the offices or residences of the client to complete the IPV procedure.

The account opening charge is ₹500 for equity trading, demat and commodity accounts. Once all documents are prepared, email soft copies of the forms to [email protected]. The forms will undergo review for any necessary corrections. Upon completing the review process, courier the documents and a cheque of ₹500 in favour of Zerodha Broking Limited to:

Courier all the documents to the following address:

Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

It can take upto 72 working hours to open the account. To learn about the applicable charges, see What are the account opening, brokerage and other transactional charges applicable to a Corporate account at Zerodha? For further assistance, call 080 4680 5727 or create a ticket.

Did you know? As per the CDSL guidelines (PDF), the nomination facility is available only for individual demat accounts. Therefore, non-individual account holders cannot add a nominee.

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