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

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

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

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).

Demat Debit and Pledge Instruction (DDPI) attached to the demat application form is a document that allows a broker to debit the securities from the client’s demat account and deliver them to the exchange. The client does not have to enter the CDSL T-PIN and OTP to sell shares once the DDPI is submitted. However, DDPI is optional. If clients do not wish to submit the DDPI, CDSL T-PIN can be used for authorisation. To learn more, see What is Demat Debit and Pledge Instruction (DDPI)?

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 name of the LLP with the authorised partner or 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, Ministry of Corporate Affairs (MCA) copy, lease and rent agreement or certificate of incorporation.
  • Self-attested PAN copies of all the authorised partners or signatories.
  • 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 must sign without the company stamp on individual KYCs and supporting docs.
  • Additional copy of PAN and address proof of the authorised partners or signatories with the LLP seal and signature
  • Copy of certificate of registration for registered LLP firms.
  • 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.
  • A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised signatory or partner. The balance sheet must also 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. Refer to the sample balance sheet (PDF). The balance sheet has to be submitted every financial year after the account is opened.
  • 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 or 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 LLP letterhead.

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 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 15% or more.
  • A copy of the PAN and address proof with self-attestation of those holding 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 the following documents are to be submitted:

  • 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.
  • 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.

Sample copy and signature guidelines

Check the filled sample equity form (PDF) , commodity form (PDF) , sample FATCA form (PDF) , sample UBO annexure (PDF) and sample annexures (PDF) for reference.

Refer to the signature guidelines (PDF) to know how to sign all the forms.

In-person Verification (IPV)

As part of the mandatory IPV requirement for all brokers, the authorised person must complete the verification. The verification can be done online or offline. To learn how to do it online, see What is in person verification and why is it needed? To do it 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.

Additional documents to be provided for opening an LLP account where one partner is a company:

A board resolution is required to verify the authorised signatories if the company is KYC registered.

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.
  • Self-attested PAN card and address proof of the authorised partners or signatories without the company stamp.
  • The company's Memorandum Of Association (MOA) and Articles Of Association (AOA). The company's MOA should authorise the LLP to be a partner in the company and must have the seal and signature of the authorised director or signatories.
  • A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised signatory or director. The balance sheet must also 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. Refer to the sample balance sheet (PDF). 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 a CA along with an 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 must 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 are registered, the following documents are required to open an LLP account:

Application form

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

Demat Debit and Pledge Instruction (DDPI) attached to the demat application form is a document that allows a broker to debit the securities from the client’s demat account and deliver them to the exchange. The client does not have to enter the CDSL T-PIN and OTP to sell shares once the DDPI is submitted. However, DDPI is optional. If clients do not wish to submit the DDPI, CDSL T-PIN can be used for authorisation.To learn more, see What is Demat Debit and Pledge Instruction (DDPI)?

FATCA Declaration

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

Supporting Documents

  • A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised signatory or partner. The balance sheet must also 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. Refer to the sample balance sheet (PDF). 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 the UDIN number specified.
    • DP holding statement of the LLP.
  • Board resolution on the company letterhead (PDF).
  • UBO annexure (PDF).

Need help? Call on 080 4680 5727 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 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

It can take upto 72 working hours to open the account. To learn the charges applicable for an LLP account, see What are the charges applicable to a Limited Liability Partner (LLP) account?