Frequently Asked Question
Documents Required to Open a Limited Liability Partnership (LLP) Account with Upmove
LLP accounts can only be opened offline, unlike individual resident accounts that support online onboarding. The documentation depends on whether the KYC of the LLP and its partners is registered or not.
If KYC of LLP and Partners is Not Registered
Document Type | Requirements |
Application Forms | - Filled Equity application form (PDF). |
FATCA Declaration | - FATCA form (PDF). |
Annexures | - Board resolution on LLP letterhead. |
PAN | - PAN copy of LLP with seal & signature of authorized partner. |
Address Proof | - LLP's address proof (e.g. certificate of incorporation, recent bank statement, utility bill, MCA copy, lease/rent agreement) with LLP seal and signature. |
Individual KYC | - Each authorized partner must fill and sign the KYC form (PDF) without stamps on individual KYC and support docs. |
Certificate of Incorporation | - A signed copy with LLP seal and authorized partner signature. |
Balance Sheet | - Last two financial years, signed by a Chartered Accountant (CA) with UDIN, date, city, and firm details. This must be submitted annually. |
Net-Worth Certificate | - For new LLPs, a CA-certified net-worth certificate (with UDIN) along with an income tax declaration on LLP letterhead, signed by an authorized partner. |
LLP Agreement | - Notarized LLP agreement including investment clause. First three pages (or all if shorter) must have seal and signatures of authorized partners. |
Bank Proof | - One of the following: Cancelled cheque with LLP name, recent bank statement, or passbook showing account number, MICR, and IFSC. |
Income Proof | - Any one of: Last 6 months' bank statement, audited P&L, ITR acknowledgement, CA net-worth certificate (with UDIN), or DP holding statement. |
???? If KYC of LLP and Partners is Already Registered
Document Type | Requirements |
Application Forms | - Filled equity application |
FATCA Declaration | - FATCA declaration (PDF). |
Annexures | - Board resolution on LLP letterhead. |
Balance Sheet | - Last 2 years' CA-signed and sealed financials with UDIN, and city details. |
Net-Worth Certificate | - If newly incorporated, submit CA-certified net-worth certificate (with UDIN) and income tax declaration on LLP letterhead. |
Bank Proof | - One of: Cancelled cheque (with LLP name), or recent bank statement/passbook. |
Income Proof | - Same options as above. |
???? If One Partner is a Company
If the Company's KYC is Not Registered:
Document Type | Requirements |
KYC Forms | - KYC of the company and its promoters/directors with company seal and authorized signatory signature. |
Annexures | - Board resolution, list of directors, shareholding pattern, and Annexure A on company letterhead. |
PAN & Address Proof | - Company PAN with seal & signature. |
Certificate of Incorporation | - Signed copy with seal. |
MOA & AOA | - MOA authorizing the company to be an LLP partner. |
Balance Sheet | - Last 2 years CA-certified financials with full CA credentials (as above). |
Net-Worth Certificate | - Same as for newly incorporated LLPs. |
If the Company's KYC is Registered:
- Only the board resolution on company letterhead is required.
- In-Person Verification (IPV)
IPV is mandatory to verify the identity of the account holder.
- Online IPV: Click A Live Selfie And Upload
- Offline IPV: The authorized partner must visit a branch or schedule a representative visit.
- Account Opening Fee
- ₹500 for opening an equity demat account