Frequently Asked Question

A partnership account can only be opened offline, unlike resident individual accounts that can be opened online.

1. Application Forms

• Equity Application Form (PDF)
• DDPI (Demat Debit and Pledge Instruction) – Optional. Allows Upmove to debit securities without CDSL T-PIN/OTP.

2. FATCA Declaration

• Submit the FATCA Declaration Form (PDF).

3. Account Opening Annexures (on firm’s letterhead):

• Authority Letter
• Annexure 4
• Annexure A – List of Partners

4. Supporting Documents

Firm-Level Documents:

• PAN copy of the firm with seal & signature of authorized signatory/partners.
• Address proof of the firm (bank statement, utility bill, rent agreement, or registration certificate).
• Partnership Deed (notarized) with an investment clause. Seal and signature on first 3 pages.
• Certificate of registration (if applicable).
• Latest 2 years’ audited Balance Sheet, signed and stamped by a CA (with name, reg. no., UDIN, city & date).
• New firms must submit a Net-Worth Certificate from a CA and an IT declaration.
• Bank Proof: Personalized cancelled cheque or bank statement/passbook with account no., IFSC, MICR.

Partner-Level Documents:

• Self-attested PAN & address proof (Passport, Aadhaar – masked, DL, etc.) for all partners.
• Individual KYC Form (PDF), filled and signed (no stamp).
• Additional PAN and address proofs with firm seal and signature.
• If a partner is a foreign national/NRI:
• KYC (PDF) with notarized copies of PAN, passport, visa, OCI/PIO/resident permit, and Indian/foreign address proofs.

5. F&O Segment Activation

Submit any one of the following as income proof:

• Last 6 months’ bank statement/passbook.
• Latest audited Profit & Loss statement.
• Latest ITR Acknowledgement.
• Net-Worth Certificate (with UDIN).
• DP holding statement.

6. If a Company is a Partner:

If KYC is registered:

• Submit a Board Resolution authorizing signatories.

If KYC is not registered:

• KYC (PDF) for the company and directors.
• Company PAN and address proof with seal.
• MOA, AOA (with permission to enter partnerships).
• Certificate of incorporation.
• Board resolution, shareholding pattern, list of directors, Annexure A (with photos & signatures).
• Latest balance sheet (CA attested) or Net-Worth Certificate if newly incorporated.
• ITR Declaration.

7. In-Person Verification (IPV)

Required by SEBI for verification. Can be done:

• Online by taking a live selfie
• Offline by visiting a Upmove branch or scheduling a representative visit.