Before moving forward with the documents required for opening a Trading and Demat account in an LLP or limited liability company, you should be aware of what a Trading and Demat account is and how to make LLP registration online.

Online LLP Registration Process

Before opening a Trading & Demat account in LLP, first, you can know how to properly conduct the process of registering an LLP.

To avail of the fast LLP Registration Services In India, you need to follow five steps.

These steps are:

1. Digital Signature Certificate is the first requirement of the registration process. Digital Signature of both you and your partner is required for the process. 
2.  After DSC or Digital Signature Certificate, you need to apply for the DIN (Director Identification Number). All the business partners of the limited liability company must apply for the DIN.
3. The LLP-RUN (Limited Liability Partnership- Reserve Unique Name) is the third step of the LLP registration process. You can get a unique name for your company.
4. You need to fill up the FiLLiP (Form for Incorporation of Limited Liability Partnership) form for LLP incorporation.
5. The LLP agreement occurred between the partners. The agreement will depict what will be the mutual right and duties among all the business partners.

These are the five steps of the LLP online registration process.

What’s a Demat Account?

A Demat Account or Dematerialised Account facilitates the benefit of holding shares and securities in e-format or electronic format.

A Demat Account keeps all the investment an individual keeps in shares, government securities, exchange-traded funds, mutual funds in a consolidated place.

Now, take a look at what the trading account is. A trading account is required to keep stock-trading activities.

You can create a trading account by registering yourself with a firm.

Why Do You Need Both Trading & Demat Account?

You need both trading and Demat accounts for making smooth transactions. The Demat account works as a storehouse of your financial securities.

You need a trading account for transaction purposes.

These are the purposes when both trading and Demat account is required by you.

Credentials of Opening a Trading & Demat Account?

Your age and residential status is not the factor while you are opening a Trading & Demat account in a limited liability company.

It is only a PAN Card and KYC is required to open a Trading & Demat account. However, you only need to submit these documents if you want to create trademark registration for your business.

What’s the Importance of Demat Account

A Demat account is a digitally secured way of holding shares and securities. Demat account decreases the chance of forgery, loss, theft, or any other kind of misleading incident.

You can immediately transfer your shares to the Demat account.

This is the facility of using a Demat Account.

The Working Procedure of Demat Account

There is no difference between using a Demat account and making physical trading.

Demat account works through electronic way.

The Demat account details the market price of shares as well as the availability of shares is verified by using the Demat account.

Documents required for Trading & Demat account for LLP

A list of documents is required for opening a Trading and Demat account for LLP (Limited Liability Partnership company).

Have a look at the lists:

1. You need to complete the Demat & Trading along with the commodity form. You need passport size photographs also. You need to sign the passport size photo.
2. You need to fill up the annexures also. It is also another requirement for opening a trading and Demat account in LLP.
3. The notary public has to attest to your LLP document.

The Other Proofs Required

There are some other documents required as proof.

The list of proofs are:

• A xerox copy of the PAN.
• A xerox copy of the company’s PAN card.
• Each partner of the LLP should submit their PAN card number.
• You need to submit the address proof.
• You need to submit the address proof of your LLP firm.
• You need to submit the proof of the bank account.

What about the Income Proof

There are various segments of income proof that you need to submit.

You can have a look at the lists:

1. 6 months bank statement or the passbook of the partnership firm.
2. Updated profit and loss statement with an audited copy.
3. An acknowledgment copy of ITR (Income Tax Return).
4. You need to show a net worth certificate from a Chartered Accountant firm if the company is newly incorporated.

What if a Partner is NRI

The system will change a little bit if one of the limited liability company business partners is NRI or a foreign national.

The KYC form must be attested by officials from the Indian embassy of the resident country, judge, court magistrate, public notary, or officials from scheduled commercial bank’s overseas branches.

This is the procedure if a business partner in the LLP is foreign national or NRI.

The Final Words

Online Legal India™ has a complete team of experts who have vast experience and knowledge about how to make LLP registration.

The business incorporation professionals can help the business partners who are willing to open trading and Demat accounts for an LLP or limited liability company.