Methods involved in registering LLP
Limited Liability Partnership (LLP) is an ideal type of organization among entrepreneurs as it contains the merits of both partnership firm and company.
Defining attributes of LLP
It possesses a different legal entity similar to companies
The partners' liability depends on the contribution made by them
Forming an LLP is an economical affair
Compliance and regulations are very minimal
Minimum capital contribution is not needed
Other highlights
The minimum number of partners required to form an LLP is 2 and a limit on the maximum number of partners for LLP is not there. As for the partners, there can be two minimum designated partners who shall be individuals, and at least one of them should be an Indian resident. All partners are directly responsible for the compliance of all the provisions of LLP Act 2008 and provisions mentioned in LLP agreement.
In case you want to form a company with Limited Liability Partnership, then you need to register under Limited liability Partnership Act, 2008.
Registration process regarding LLP
Step 1: Get hold of DSC
Step 2: Apply for DIN
Step 3: Name Approval
Step 4: Incorporation of LLP
Step 5: File LLP Agreement
Process involved in registering a limited liability partnership
Get Digital Signature Certificate (DSC)
Prior to starting the procedures involved in registration, you need to apply for the digital signature of the designated partners of the proposed LLP. Every document of LLP is filed online and needs to be digitally signed. Hence it is critical to obtain digital signature certificates from government-approved certifying agencies. The price involved in DSC varies according to the certifying agency. Further, you should get either class 2 or class 3 category of DSC.
Apply for Director Identification Number (DIN)
You are required to apply the DIN for all the proposed partners wanting to be a part of your LLP. The application regarding allocation of DIN has to be made in Form DIR-3. You need to embed the scanned copy of documents (usually Aadhaar and PAN) into the form. The form has to be signed by a Company Secretary, who is a full-time employee of the company or by the Managing Director/Director/CEO/CFO of the current company in which the applicant would be appointed as a director.
Step 3: Name Booking
LLP-RUN(Limited Liability Partnership-Reserve Unique Name) has to be done for the booking of the name of LLP in question. This will be assessed by the Central Registration Centre under Non-STP. However, prior to giving the name in the application form, it is in your best interest to go for a free name scouting on MCA portal. The gateway will offer the list of names similar to your current companies/LLPs on the basis of search criteria. The form RUN-LLP needs to be given with fees according to Annexure ‘A’ which might be approved or rejected by the registrar. The form can be resubmitted within 15 days for correcting the mistakes. You are free to provide 2 proposed names of the LLP.
Incorporating LLP
The form meant for incorporation is FiLLiP(Form for incorporation of Limited Liability Partnership) which has to be filed with the Registrar who has an authority over the state in which the LLP registered office is located. Fees has to be given according to Annexure ‘A’.
The application to reserve the name of LLP can be made through FiLLiP too.
File Limited Liability Partnership Agreement
LLP agreement guides the mutual rights and duties amongst the partners and also between the LLP and its partners. The agreement has to be filed in form 3 online via MCA portal.
Form 3 related to the LLP agreement needs to be filed by 30 days of the date of incorporation.
The LLP Agreement needs to be printed on Stamp Paper. The value of Stamp Paper varies from state to state.
Documents needed to register as LLP
Documents meant for Partners:
PAN Card/ ID Proof of the Partners
Address Proof of the partners
Residence Proof of Partners
Photograph
Passport (if Foreign Nationals/ NRIs)
Documents of LLP:
Proof of Registered Office Address
Digital Signature Certificate
A. Documents pertaining to partners
Each and every partner needs to give their PAN while registering LLP. PAN card is a major ID proof.
Partner has to submit any document such as Voter’s ID, Passport, Driver’s license or Aadhar Card. There should be a match between the address filled up in the form and the proof of address provided like a PAN card. In case of any spelling mistakes regarding name or father's name or any other discrepancy in address proof and PAN card, it should be rectified before submitting to the RoC.
Newest bank statement, telephone bill, mobile bill, electricity bill or gas bill needs to be given as a residence proof. The bill or statement shouldn’t be older than 2-3 months and must have the name of partner as prescribed in the PAN card.
Partners have to give their passport size photographs, ideally on a white background.
To be a partner in the Indian LLP, foreign nationals and NRIs have to mandatorily submit their valid passport.
Foreign Nationals or NRIs also need to furnish a proof of address which could be a driving license, bank statement, residence card or any government issued identity proof having the address.
If the documents happen to be in languages other than English, a notarized translation copy has to be attached.
B. Documents of LLP
1. Proof of Registered Office Address
Proof of registered office needs to be presented during registration, or within 30 days of its incorporation. If the registered office happens to be a rented space, the rent agreement and a no objection certificate from the landlord should be submitted. The NOC serves the purpose of the landlord's approval to permit the LLP to use his space as a ‘registered office’.
Also any document such as gas, electricity, or telephone bill needs to be submitted. The bill must have the full address of the premise and owner’s name and these bills should not be older than 2 months.
2. Digital Signature Certificate
Anyone among the proposed partners has to go for a digital signature certificate as well since all documents and applications will be digitally signed by the authorized signatory.
Price of Registration Process
Below is the government fees for filing forms:
Time consumed for Registration
Forming LLP right from getting DSC to Filing Form 3 may take close to 15 days depending upon the availability of the requisite documents.
In case you are finding it difficult to form LLP then approach us without any hesitation. We can help you out with each and every steps involved in the registration process.
.png)
Comments
Post a Comment