What are the documents required to open a limited liability partnership(LLP) account?
Documents to be provided for opening an LLP account at Zerodha -
1. Duly filled copies of Trading & DEMAT and/or Commodity form with a photograph of Authorized Signatory affixed and signed across.
2. Duly filled Annexures needed for an LLP (with the authorized partner's signature and the firm's seal affixed on the authorized partner's signature).
3. Copy of the LLP Agreement duly attested by a notary public (investment clause must be mentioned). The first 3 pages of the LLP agreement (on all pages if lesser) should have the seal and signature of the Authorized Signatory.
4. A copy of the PAN;
PAN card copy of the Firm.
PAN card of each individual Partner (Attested by each such partner).
5. Address proof:
Address Proof copy of the Firm.
Address Proof copy of all the partners (Attested by Each Individual Partner).
6. Proof of Bank Account (Specimen copy of cancelled check leaf/Bank Statement/Bank Passbook/Letter from Bank).
7. Copy of Balance Sheet of the Firm for the last 2 Financial Years* (to be submitted every year) if the firm is newly incorporated then, net worth certificate from CA. (The balance sheet should have the seal and signature of the Authorized Signatory on all the pages)
8. Income Proof which shall include:
- 6 month Bank statement/passbook of the partnership account.
- Latest audited Profit and Loss statement.
- ITR (Income tax return) Acknowledgement
- If the Company is newly incorporated, then a net worth certificate from a Chartered Accountant and an Income Tax Return declaration is required. If the return hasn't been filed, declaration of Income Tax returns has to be submitted.
Note: If any of the partners is a foreign national or an NRI, then the KYC forms have to be notarized by Authorized officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrate, judge, or the Indian embassy/consulate general in the country that they reside.
9. Aadhaar of the Authorized Person as per the Letter of Authority on the letterhead of the firm [not mandatory]
10. Duly filled Board resolution.
11. Copy of Certificate of Registration (For Registered LLP Firms only) (Investment clause must be mentioned).
12. Latest percentage interest of each partner/ shareholding in the Partnership firm, attested by a partner.
13. FATCA Declaration.
14. Individual KYC form filled and signed by each partner (Partners have to sign without the stamp on individual KYC's and supporting docs)
15. A physical verification, as part of the mandatory IPV requirement for all brokers, is required for non-individual accounts. Either a representative of the client would require 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.
16. If an individual is a shareholder of the applicant, having more than 15% of profits sharing of the applicant, the individual should identify as an ultimate beneficiary and is required to submit Annexure A.
17. If an entity is a shareholder of the applicant, having more than 25% of shareholding or capital or profits of the applicant, the entity should identify as an ultimate beneficiary and is required to submit Annexure A along with -
(a) self-attested copies of the KYC documents of the Whole Time Director/ Individual Promoters of such an entity holding 25% or more; AND
(b) shareholding pattern (with the company letterhead) of the entity holding 25% or more.
18. Account opening cheque favouring "Zerodha Broking Limited":
(a) Rs. 500 towards equity trading account opening charges
(b) Rs. 300 towards commodity trading account opening charges
Additional Documents to be provided for opening an LLP account in case a company is a partner-
A. In case the company is KYC registered, a Board Resolution is required to verify the authorized signatories.
B. In case the company is not KYC registered, the following documents and annexures should be signed by authorized directors with the company's stamp:
1. KYC of the company and the Promoters/Directors of the company
2. Pan card and address proof of the company
3. Pan card and address proof of the directors with self-attestation (without the stamp)
4. MOA and AOA of the company (The company's MOA should authorize the company to be a partner in the LLP)
5. Balance sheet for the latest two years, If the company is newly incorporated then we required a net worth certificate from CA along with ITR Declaration annexure
6. Required Board resolution, Latest shareholding pattern, List of directors Annexure, Annexure-A with specimen signature and photograph (these annexures and board resolution are to be provided on the company's letterhead)
7. Certificate of incorporation with authorized director seal and signature.
- Partnership Deed should allow the Firm to trade in Secondary Markets.
- Authority Letter in favour of Managing Partners should be on Letterhead of the Firm.
- All the documents need to be signed by the Managing Partner
- Seal of the Partnership Firm to be put where signatures are made.
- In case of a new Partnership Firm, provide Balance Sheet after the close of immediate Financial Year.
- The Bank proof should contain the Bank name, Branch address, IFSC/MICR code, Name of the account holder, Account number.
Please raise a ticket below in case you have any queries regarding the documents required and our support representative will get in touch with you.