Frequently Asked Question

Unlike individual resident accounts, a corporate account can only be opened through the offline process.

The documents required to open a corporate account depend on the KYC status of the company and the director.

To learn how to check the KYC status

How to Check Your KYC Status

To verify your KYC status, follow these steps:

1. Visit cvlkra.com.

1. Click on ‘KYC Inquiry’.

1. Enter your PAN, complete the captcha, and click ‘Submit’.

1. Check the KRA and KYC Status columns to identify the KYC Registration Agency and the current status of your KYC.

What Does the KYC Status Indicate

• Validated/Registered:
  Your KYC is successfully registered. If your Upmove account was previously blocked, it will be unblocked within 72 hours of the KYC being updated.
• Under Process:
  This means your KYC details were recently updated and are currently being processed by the KRA. It may take up to 5 working days for the status to reflect as updated.
• On-Hold or Rejected:
  This indicates that the KYC update was unsuccessful due to incorrect or incomplete information or documents submitted to the previous intermediary.
• Upmove will send the required documents to the KRA to help correct the issue.
• If additional documents are needed, you will receive an email with the list of required documents.
• The KYC status may take up to 5 working days to be rectified.

If the KYC of the Company and Directors Is Not Registered

You’ll need the following documents:

✅ Application Forms

• Equity application form (PDF)

✅ FATCA Declaration

• FATCA declaration form
  

✅ Account Opening Annexures

• Board resolution on company letterhead
• List of directors
• Latest shareholding pattern
• Annexure A on company letterhead

✅ PAN Documents

• PAN copy of the company (with seal and signature of an authorized signatory/director)
• Self-attested PAN copies of all directors and authorized signatories
• Additional PAN copy of the authorized signatories with company seal and signature

✅ Address Proof

• Company address proof with seal and signature (any of the following):
• Certificate of incorporation
• Latest bank statement
• Utility bill
• MCA copy
• Lease/rent agreement
• Self-attested address proof of all directors/authorized signatories
• Additional copy of address proof with company seal and signature

✅ Individual KYC

• Individual KYC form (PDF) signed by each whole-time or executive director
• No company stamp should be used on personal KYC forms

✅ Company Documents

• Certificate of Incorporation (copy with seal/signature)
• Memorandum of Association (MOA)
• First 4 pages signed and sealed
• FORM-32 or DIR-12 required if director details are missing
• Articles of Association (AOA)
• Same requirements as MOA

✅ Financial Documents

• Latest two financial years' balance sheet (CA attested with name, firm, registration no., UDIN, date, and city)
• For newly incorporated companies:
• Net-worth certificate with UDIN
• Income tax declaration on company letterhead

✅ Bank Proof

• Any of the following in the company’s name:
• Personalized cancelled cheque
• Bank statement or passbook showing account number, IFSC, MICR

✅ Income Proof (for F&O and Commodity segments)

• Any one of the following:
• Last 6 months’ bank statement/passbook
• Latest audited P&L statement
• ITR acknowledgment
• Net-worth certificate with UDIN
• DP holding statement

If the KYC of the Company and Directors Is Registered

In this case, fewer documents are required:

• Equity application form and segment addition form
• FATCA declaration
• Board resolution on company letterhead
• Balance sheet (2 years, CA attested)
• Net-worth certificate (for new companies)
• Income tax declaration
• Bank proof
• Income proof for F&O 

If a Director Is an NRI

Additional documents are required:

✅ PAN & Address Proof

• Self-attested & notarized PAN card
• Overseas address proof (self-attested and notarized) – e.g., driving license, passport, utility bill, bank letter, rental agreement, etc.
• Indian address proof (if available)

✅ Passport & Visa

• For Indian passport holders: valid passport with place of birth as India and valid visa
• For foreign passport holders: passport, visa, and PIO/OCI/resident card (self-attested & notarized)

✅ FATCA Declaration

• FATCA declaration
  

In-Person Verification (IPV)

As per SEBI rules, IPV is mandatory. It confirms that the person opening the account matches the documents submitted.