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

An LLP account can only be opened offline, unlike regular accounts that can be opened online.

The documents required to open a LLP account depend on the KYC status of the LLP and the partners. To know how to check the KYC status, see What is Know Your Customer(KYC)? How can I check my KYC status?

If the LLP and the partners KYC are not registered, the following documents are required to open an LLP account:

Application form

Equity application form (PDF) and Commodity application form (PDF).

FATCA Declaration

A Foreign Account Tax Compliance Act (FATCA) Declaration (PDF).

Supporting Documents

  • A PAN copy of the LLP with the authorised partner or signatory seal and signature.
  • Address proof in the LLP name with authorised partner/signatory seal and signature. Any one of the following address proof can be submitted: The latest month's transaction copy of bank statement, utility bill, MCA copy, lease and rent agreement or, certificate of incorporation.
  • Individual self-attested PAN copy of all the authorised partners or signatories.
  • Individual self-attested address proof of all the authorised partners or signatories.
  • Individual KYC form (PDF) filled and signed by each authorised partner or signatory. The authorised partner or signatory is to sign without the company stamp on individual KYCs and supporting docs.
  • Additional copy of PAN and address proof of the authorised partner(s) signatories with the LLP seal and signature
  • Copy of certificate of registration for registered LLP firms only.
  • Copy of the LLP agreement duly attested by a notary public with the investment clause mentioned. The first 3 pages of the LLP agreement (on all pages if lesser) should have the seal and signature of the authorised partners or signatories.
  • A copy of the latest two financial years balance sheet of the LLP with authorised partners or signatory's seal and signature. After the account is opened balance sheet for every financial year to be submitted.
  • If the LLP is newly incorporated, submit a net-worth certificate from the Chartered Accountant with UDIN- number specified and Income Tax Declaration (PDF) on the company letterhead with the authorised partner or signatory seal and signature.
  • A bank account proof of the LLP. Any one of the following bank proofs can be submitted: A personalised cancelled cheque with the company name printed on it or a bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
  • Any one of the following income proof to activate the F&O and commodity segment:
    • Latest six months' Bank statement/passbook of the LLP account.
    • Latest year audited Profit and Loss statement.
    • Latest year ITR (Income tax return) Acknowledgement.
    • Net-worth Certificate from the Chartered Accountant with UDIN- Number specified.
    • DP Holding statement of LLP.

Account opening annexures

The board resolution and annexures should be on the company letterhead.

Ultimate Beneficial Owner (UBO)

If any individual has 15% or more of shareholding, capital or profits in the company, the individual should identify as an ultimate beneficiary and submit UBO annexure.

In case no natural person is identified, the senior managing official may be considered as UBO.

  • A copy of UBO annexure (PDF) with signature on the 3rd page of such who holds 15% or more.
  • A copy of the PAN and address proof with self-attestation of those who hold 15% or more.

If any entity has more than 15% of shareholding or capital or profits in the company. In that case, the entity should identify as a UBO, and submit UBO annexure.

  • A copy of UBO annexure (PDF) with signature on the 3rd page of the authorised partner or signatory of such an entity holding 15% or more.
  • A copy of the PAN and address proof with self-attestation of the authorised partner or signatory of such an entity holding 15% or more.
  • Latest shareholding pattern (PDF) on the company letterhead of such an entity holding 15% or more, with the signature of the authorised partner or signatory.

IPV

As part of the mandatory IPV requirement for all brokers, physical verification is required for non-individual accounts. Either any one of the partners or authorised signatory would need to visit a Zerodha branch office OR a representative of Zerodha would be required to visit the offices/residence of the client to complete the IPV procedure. See What is in person verification and why is it needed?

Additional documents to be provided for opening a LLP account in case a company is a partner:

If the company is KYC registered, a board resolution is required to verify the authorised signatories.

If the company is not KYC registered, the following documents and annexures should be signed by the authorised partners or signatories with the company's stamp:

  • KYC (PDF) of the company and the promoters or directors of the company.
  • Pan card and address proof of the company.
  • Pan card and address proof of the authorised partners or signatories with self-attestation without the stamp.
  • The company's Memorandum Of Association (MOA) and Articles Of Association (AOA). The company's MOA should authorise the company to be a partner in the partnership firm.
  • Balance sheet for the latest two years. If the company is newly incorporated then a net worth certificate from a chartered accountant along with ITR declaration annexure (PDF) is required.
  • Board resolution, latest shareholding pattern (PDF), list of directors Annexure (PDF), Annexure-A (PDF) with specimen signature and photograph. The annexures and board resolution are to be provided on the company's letterhead.
  • Certificate of incorporation with authorised partners or signatories' seal and signature.

If the KYC of the LLP and the partners is registered the following documents are required to open a LLP account:

Application form

Equity application form (PDF) and commodity application form (PDF).

If clients do not wish to submit the POA, CDSL T-PIN can be used for authorisation. To know more, see What is the CDSL TPIN and how do I use it to sell my stock holdings?

FATCA Declaration

Foreign Account Tax Compliance Act (FATCA) declaration (PDF) .

Supporting Documents

  • A copy of the LLP's latest two financial years' balance sheet with authorised partner or signatory seal and signature. The balance sheet has to be submitted every financial year after the account is opened.
  • If the LLP is newly incorporated, then a net-worth certificate from the chartered accountant with UDIN - number specified and income tax declaration (PDF) on the LLP letterhead with authorised signatory or partner seal and signature.
  • A bank account proof of the LLP for linking with Zerodha. The proof can be any one of the following: A personalised cancelled cheque with the LLP name printed on it, a bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
  • Any one of the following income proof to activate the F&O and commodity segment:
    • Latest six months bank statement or passbook of the LLP account.
    • Latest year audited profit and loss statement.
    • Latest year Income Tax Return (ITR) acknowledgement.
    • Net-worth certificate from the chartered accountant with UDIN number specified.
    • DP holding statement of the LLP.
  • Board resolution on the company letterhead (PDF) .

Need help? Call our desk on +91-080 4719 2020/080 71175337 or create a ticket.

Once all the documents are ready, e-mail the soft copy of all the forms to [email protected] The forms will be reviewed in case any corrections are required. After the forms are reviewed, courier the documents along with a cheque in favour of Zerodha Broking Limited for the following amount :

  • ₹500 towards Equity trading account opening charges.
  • ₹800 towards Equity and Commodity trading account opening charges.

Courier all the documents to the following address:

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

To know the charges applicable for a LLP account, see What are the charges applicable to a Limited Liability Partner (LLP) account?