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Account Opening

What documents are required to open an account for Limited Liability Partnership (LLP) at Zerodha?

A Limited Liability Partnership (LLP) account can only be opened offline, unlike resident individual accounts that can be opened online.

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

Table of contents

KYC of the LLP and the partners are not registered

The table below shows the documents required if the KYC of the LLP and the partners are not registered:

Type of document Requirements
Application forms
  • Equity application form (PDF). Sample equity form (PDF).
  • Commodity application form (PDF). Sample commodity form (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 LLP with the seal and signature of the authorised signatory or partner.
  • Self-attested individual PAN copies of all the authorised signatories or partners.
  • Additional PAN copy of the authorised signatories with LLP seal and signature.
Address proof
  • Address proof in the LLP's name with the seal and signature of the authorised signatory or partner. 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 partners. 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 LLP seal and signature.
Individual KYC form
  • Each authorised signatory or partner must sign an individual KYC form (PDF). The partner must sign without the stamp on individual KYCs and supporting documents.
Certificate of incorporation
  • A copy of the certificate of incorporation with seal and signature of authorised signatory or director.
Balance sheet
  • The latest two financial years' balance sheet copy with the seal and signature of the authorised signatory or partner. 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 has to be submitted every financial year after the account is opened. 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.
LLP agreement
  • A copy of the LLP agreement with the investment clause included and attested by a notary public. The first three pages of the LLP agreement (on all pages if lesser) should have the seal and signature of the authorised partners or signatories.
Bank account proof
  • A bank account proof of the LLP 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.
Income proof
  • Any of the following income proof to activate the F&O and commodity segment:
    • The latest six months' bank statement or passbook of the company account.
    • Latest year audited profit and loss statement.
      Latest year Income Tax Return (ITR) acknowledgement.
    • Net-worth certificate from the chartered accountant with the UDIN number specified.
    • DP holding statement of the entity.

KYC of the LLP and the partners are registered

The table below shows the documents required if the KYC of the LLP and the partners are registered:

Type of document Requirements
Application forms
  • Equity application form (PDF). Sample equity form (PDF).
  • Commodity application form (PDF). Sample commodity form (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
Balance sheet
  • The latest two financial years' balance sheet copy with the seal and signature of the authorised signatory or partner. 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 has to be submitted every financial year after the account is opened. 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 LLP 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.
Income proof
  • Any of the following income proof to activate the F&O and commodity segment:
    • The latest six months' bank statement or passbook of the company account.
    • Latest year audited profit and loss statement.
      Latest year Income Tax Return (ITR) acknowledgement.
    • Net-worth certificate from the chartered accountant with the UDIN number specified.
    • DP holding statement of the entity.

One partner in the LLP is a company

The additional documents required if one partner in the LLP is a company depend on the KYC status of the company.

KYC of the company is not registered

The table below shows the documents required if the KYC of the company is not registered:

Type of document Requirements
KYC
  • KYC of the company with the company seal and signature of the authorised signatories or directors (PDF).
  • KYC of the promotors or directors of the company with the company seal and signature of the authorised signatories or directors. (PDF).
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.
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?
Certificate of incorporation
  • A copy of the certificate of incorporation with seal and signature of authorised signatory or director.
Memorandum of Association (MOA)
  • The company's Memorandum Of Association (MOA) The company's MOA should authorise the company to be a partner in the LLP and must have the seal and signature of the authorised director or signatories.
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
  • The latest two financial years' balance sheet copy with the seal and signature of the authorised signatory or director. 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 has to be submitted every financial year after the account is opened. 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.

KYC of the company is registered

The table below shows the documents required if the KYC of the company is registered:

Type of document Requirements
Account opening annexures
  • Board resolution on the company letterhead (PDF).

Ultimate Beneficial Owner (UBO)

An individual is identified as an ultimate beneficiary if they have shareholding, capital or profits of 15% or more in the LLP. 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:

  • If an individual holds 15% or more, a copy of the UBO annexure (PDF) with the UBO signature and the authorised person's seal and signature on the third page is required.
  • A self-attested copy of the PAN and address proof of those holding 15% or more.

If an entity has more than 15% of the shareholding, capital or profits in the LLP. 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 15% 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 15% or more.
  • The latest shareholding pattern (PDF) (on the LLP letterhead) of such an entity holding 15% or more, with the whole-time director's or individual promoters' signature.

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:

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 charges applicable to a Limited Liability Partner (LLP) account? 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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