What is the procedure to open a Geojit trading and demat account for a Partnership Firm?

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A Partnership can be either a Normal Partnership or a Limited Liability Partnership (LLP). The document requirements for account opening are the same, but they differ in the aspect that: 

Partnership Type	Trading Account	Demat Account
Normal Partnership Firm	Must be opened in the name of the Firm.	Must be opened in the name of the partners (up to 3).
Limited Liability Partnership (LLP) Firm	Must be opened in the name of the Firm.	Must be opened in the name of the Firm.

To open a Partnership account, the following documents must be submitted at a branch along with a filled and signed account opening form. Use our branch locator to find a Geojit office near you. 

A. Firm documents: 

Sl No.	Documents	Requirements
1.	PAN	* Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
2.	Address Proof	* Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories) * Accepted proofs: i. Registered lease/ Sale agreement of residence.  ii. Utility bills (not older than 2 months)- telephone bill (land line)/ electricity bill/ gas bill  iii. Bank account statement/ Passbook (not older than 2 months) iv.  Certificate of Incorporation/ Formation v. GST Certificate
3.	Bank Account Proof	* Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories) * Accepted proofs: i. Specimen copy of cheque/ cancelled cheque  ii. Bank statement copy  iii. Bank passbook copy iv. Letter from the bank- including:     a) Bank name     b) Branch address      c) IFSC/ MICR code     d) Name of the account holder     e) Account number
4.	Financial Statements of the last 2 financial years	Required documents: * Independent Audit Report * Profit & Loss Statement with notes to accounts * Balance Sheet with notes to accounts In case it is not available for 2 years: * Newly incorporated firms (less than 1 year) must submit: i. Letter from the Firm mentioning reason for non-submission ii. CA certified Networth Certificate * 1 year+ old firms must submit: i. The previous year's financial statements ii. Letter from the Firm mentioning reason for non-submission * The first and last page of the Internal Audit report to have the Firm seal with designation (of the authorised signatory) and be signed by the authorised signatory (or signatories) * All pages of the P&L Statement, Notes and Balance Sheet to have the Firm seal and be signed by the authorised signatory (or signatories) * Must be submitted annually
5.	Registration Certificate copy (if registered)	* Mandatory for LLPs * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
6.	Latest Partnership Deed copy	First and last page to have: * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
7.	List of Partners	* Dated, on the letterhead of the firm * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)/ managing partners
8.	List of Authorised Signatories	* With specimen signatures of the authorised signatories * Dated, on the letterhead of the Firm * Firm seal with designation (of the authorised signatory) * Proofs and documents to be signed based on the number of authorised signatories: i. Joint (2)- all signatories must sign the required documents ii. Several- any one signatory can sign the required documents
9.	Profit Sharing Agreement	* Dated, on the letterhead of the Firm * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
10.	Trading Account Resolution	* Passed to authorise the partner(s) who is to open and operate the trading account * Dated, on the letterhead of the Firm * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
11.	Demat Account Resolution	* Passed to authorise the Firm to open and operate a demat account through Geojit with NSDL/ CDSL * The format varies for Normal Partnerships and LLPs  * Dated, on the letterhead of the firm * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
12.	Commodity Resolution (if required)	* Dated, on the letterhead of the firm * Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories)
13.	Proof for Derivatives Trading and/ or Commodity Categorisation (if required)	* Firm seal with designation (of the authorised signatory) * Signature of the authorised signatory (or signatories) * Accepted proofs: i. Latest Networth Certificate ii. Latest Financial Statements iii. Latest ITR (Income Tax Return)

B. Individual Partners and Related Persons Documents:   

Sl No.	Documents	Requirements
1.	Passport size photo (2)
2.	PAN	Self-attested
3.	Address Proof	Self-attested
4.	CKYC Form	* CKYC of all partners/ related persons.  * If an individual is KYC registered, their CKYC number must be provided * If an individual is not KYC registered, fill in the CKYC form in the account opening booklet. There are forms for 3 individuals in the booklet. Additional forms can be printed.