What are the necessary documents needed to open a Corporate Account with 5paisa?

What are the necessary documents needed to open a Corporate Account with 5paisa?

Corporate accounts are opened offline. The documentation requirements for initiating a corporate account rely on the KYC/KRA status. To easily check the status, visit www.cvlkra.com and select "KYC inquiry." Enter the PAN number of the company and its director. If the KYC status "KYC REGISTERED" shows a status date within 2 years from today, then the supporting documents listed as numbers 1 to 5 are not necessary. The documents required to open a corporate account at 5paisa include:

Application form

Supporting documents 
  1. PAN copy of the company: This should have the seal and signature of the authorized signatory or director.
  2. Address proof in the company's name: It should also have the seal and signature of the authorized signatory or director. The proof can be any one of the following: certificate of incorporation, the latest month's transaction copy of bank statement, utility bill, Ministry of Corporate Affairs (MCA) copy, or lease or rent agreement.
  3. Self-attested individual PAN copies: These are required for all authorized signatories or directors.
  4. Self-attested individual address proof: This is necessary for all authorized signatories or directors.
  5. Copy of the certificate of incorporation: It should have the seal and signature of the authorized signatory or director.
  6. Memorandum of Association (MOA) and Articles of Association (AOA): The first four pages of the MOA and AOA should have the seal and signature of the authorized signatory or director. If the director details are missing, an additional FORM-32 or DIR-12 copy is to be submitted.
  7. Copy of the balance sheet: This should be from the latest two financial years and should have the seal and signature of the authorized signatory or director. The balance sheet must also be attested by a Chartered Accountant (CA) and include the CA's name, CA company name, member registration number (M. NO), UDIN, date, and city. The balance sheet needs to be submitted every financial year after the account is opened.
  8. Net-worth certificate (for newly incorporated companies): This should be from a chartered accountant on the company letterhead and have the seal and signature of the authorized signatory or director.
  9. Proof of bank account: This can be any one of the following: a personalized cancelled cheque with the company name printed on it, a bank statement, or a bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
  10. Board resolution: This should be on the company letterhead. (Format is available in AOF form - Pg 25)
  11. List of directors: This should be on the company letterhead.
  12. Latest shareholding pattern: This should be on the company letterhead.
Ultimate Beneficial Owner (UBO):

The ultimate beneficiary is an individual who holds 25% or more shareholding, capital, or profits in the company. They must submit the UBO annexure (available in the AOF form on Page 26). In the case of a non-individual entity, the senior managing official may be considered the UBO. The following documents need to be submitted:

For Individuals:
  1. Copy of the UBO annexure with the signature of the individual holding 25% or more (Format available in AOF form - Page 26).
  2. Self-attested copies of PAN and address proof for individuals holding 25% or more shareholding, capital, or profits in the company.
For Non-Individuals:
  1. Copy of the UBO annexure with the signature of the whole-time director or individual promoters holding 25% or more (Format available in AOF form - Page 26).
  2. Copy of PAN and address proof (self-attested) of the whole-time director or individual promoters holding 25% or more.
  3. Latest shareholding pattern (on the company letterhead) of the entity holding 25% or more, with the signature of the whole-time director or individual promoters.

FATCA Declaration
Foreign Account Tax Compliance Act (FATCA) declaration (Attached below)

For activating the F&O and commodity segment (Click here to download the Form), any one of the following income proofs is required:
  1. Latest six months' bank statement or passbook of the company account.
  2. Latest audited profit and loss statement for the previous year.
  3. Income Tax Return (ITR) acknowledgement for the latest year.
  4. Net-worth certificate from a chartered accountant with a specified UDIN number.
  5. DP holding statement of the entity.
Once all the documents are ready, email the soft copies of the forms to accountopening@5paisa.com. The forms will be reviewed, and if any corrections are required, you will be notified. After the review process, courier all the documents to the following address:

5paisa Capital Ltd.
Sun Infotech Park,
Road No.16V, Plot No. B-23
Thane Industrial Area, Wagle Estate,
Thane - 400604.



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