You can only open an Association of Persons (AOP) account offline, unlike resident individual accounts that you can open online. AOP is the integration of persons for a mutual benefit or common purpose. The documents required depend on the KYC status of the AOP and members. All documents must be within their validity periods when submitting your application. If any expire before you complete the account opening process, you'll need to obtain new copies.
If the AOP and the directors' KYC are NOT registered
Application form
Equity application (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.
FATCA Declaration
Foreign Account Tax Compliance Act (FATCA) declaration (PDF).
Account opening annexures
The annexures should be on the AOP letterhead.
The Authority letter, Annexure 4 and Annexure A - List of members (PDF).
Supporting documents
- A PAN copy of the AOP with the authorised member or signatory seal and signature.
- Address proof in the AOP name with the authorised member or signatory seal and signature. Address proof can be any one of the following: The latest month's transaction copy of bank statement, utility bill, lease, rental agreement or registration certificate.
- Self-attested individual PAN copies of all the members or signatories.
- Self-attested individual address proof of all the authorised members or signatories.
- Individual KYC form (PDF) filled and signed by authorised members or signatories. The members have to sign without the stamp on individual KYCs and supporting docs.
- Additional copy of the PAN and address proof of the authorised members with the firm seal and signature.
- A copy of the AOP deed with the investment clause included and attested by a public notary. The first three pages of the AOP deed (on all pages if lesser) should have the seal and signature of the authorised signatory.
- The object of the association.
- Powers of the Managing Committee.
- Copy of the Bye-Laws.
- A copy of the certificate of registration if the AOP is registered.
- A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised signatory or member. 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).
- If the AOP is newly incorporated, a net-worth certificate from a CA with the UDIN number specified and an income tax declaration (PDF) on the AOP letterhead with authorised members or signatories' seal and signature.
- A bank account proof of the AOP to link with the Zerodha account. The bank proof can be one of the following: Personalised cancelled cheque with the AOP name printed on it, 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 AOP account.
- Latest year audited Profit and Loss statements.
- Latest year ITR (Income tax return) Acknowledgement.
- Net-worth Certificate from the Chartered Accountant with UDIN- Number specified.
- DP holding statement of the entity.
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 self-attested copy of the PAN and address proof of those holding 15% or more.
Sample copy and signature guidelines
Check the filled sample equity form (PDF) , sample FATCA form (PDF) , sample UBO annexure (PDF) and sample annexures (PDF) for reference.
Refer to the signature guidelines (PDF) to learn 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. In-Person Verification (IPV) can be done online or offline. To do it offline, the authorised person must visit a Zerodha branch office, or a representative of Zerodha would be required to visit the client's offices or residences to complete the IPV procedure.
If the AOP and the members' KYC are registered
- A copy of the balance sheet of the latest two financial years with the seal and signature of the authorised signatory or members. 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).
- If the AOP is newly incorporated, then a net-worth certificate from the chartered accountant with UDIN number specified and income tax declaration (PDF) on the AOP letterhead with authorised signatory or member seal and signature.
- A bank account proof of the company for linking with Zerodha. The proof can be any one of the following: Personalized cancelled cheque with the AOP name printed on it, bank statement, 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 AOP 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 entity.
- Authority letter (PDF)
- Annexure 4 (PDF)
Submission process
- Email soft copies to [email protected] for review.
- Make corrections if requested.
- Courier documents with ₹500 cheque payable to Zerodha Broking Limited to:
Zerodha Customer Support Centre
192A 4th Floor,
Kalyani Vista, 3rd Main Road,
JP Nagar 4th Phase,
Bengaluru, 560076
Processing time:
Up to 72 working hours
To learn the charges applicable to a AOP account, see What are the account opening, brokerage and other transactional charges applicable to a Partnership account at Zerodha?
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.
Need help? Call 080 4680 5727 or create a ticket.