Opening an LLP Account at FYERS - Documents & Process

Can an LLP (Limited Liability Partnership) open an account at FYERS?

Absolutely, FYERS welcomes LLP entities to open accounts with us. However, please be aware that the process for opening an LLP account is conducted offline. Here's a breakdown of the essential steps and documents required for a successful LLP account opening:
Required Documents for Opening an LLP Account:
  1. Duly Filled Forms: Complete the Trading/Trading & Demat/Commodity form, including affixing a photograph of the Karta (partner) with a signature across it.
  1. Attested LLP Agreement: Provide a copy of the LLP Agreement, duly attested by a Public Notary. Ensure that the Investment Clause is explicitly mentioned in the agreement.
  1. PAN Card Copies:
    • PAN Card of the LLP Firm.
    • PAN Card of all Partners (Attested by Each Individual Partner).
  1. Income Proof Documents:
    • Proof of Bank Account (Specimen copy of a canceled check leaf/Bank Statement/Bank Passbook/Letter from Bank).
    • Copy of the Balance Sheet of the Firm for the last two Financial Years (to be submitted annually). If the firm is newly incorporated, provide a Networth certificate from a Chartered Accountant. (The Balance Sheet should have the seal and signature of the Authorized Signatory on all pages).
  1. Address Proof Documents:
    • Address Proof of the Firm.
    • Address Proof of all the Partners (Attested by each Individual Partner).
  1. Aadhaar of Authorized Person: Include the Aadhaar of the Authorized Person as per the Letter of Authority in the firm's letterhead.
  1. Authority Letter: Provide an Authority Letter in favor of the Managing Partner – Annexure 1A (For Equity Account).
  1. List of Authorized Signatories/Partners: Prepare a list of Authorized Signatories/Partners' photos with signatures on the letterhead of the Firm – Annexure I.
  1. Certificates of Registration: If applicable (For registered LLP firms only), include copies of Certificates of Registration with the Investment clause mentioned.
  1. Latest Shareholding Pattern.
  1. FATCA Declaration.
  1. Annexure 4 for Demat Account.
Ensure that all the necessary documents are meticulously prepared and submitted to FYERS. This will help streamline the account opening process for your LLP.

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