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Steps-to-be-taken-for-Registration-of-Limited-Liability-Partnership-Firm

 

Steps to be taken for Registration of Limited Liability Partnership Firm

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Introduction-

LLP is the mixture of Partnership firms and corporations. It is a separate legal entity than its members, which means that the liability of members is limited to their agreed contributions.
 

Conditions for registration of LLPs-

  • Minimum number of partners under LLP is 2.
  • No limit on maximum number of partners.
  • No requirement of Minimum Capital Contribution
  • At least one Partner is Indian Resident.
 

Before applying for registration, you must keep the following documents-

  • Address proof of Partners
  • ID proof of Partners
  • Pan Number of Partners
  • Photographs of Partners
  • Address proof of Registered office or business place
  • Rent Agreement if property is rented
  • Copy of Property papers if property is owned

 

The following steps to be taken by partners for LLP registration-

  • First, Apply for Digital Signature Certificate- The partners should apply for DSC, because DSC is required before applying for registration. The partners can take DSC for class 2 or class 3.
  • Second, Apply for Digital Partners Identification number- The designated partners must apply for DPIN in “Form DIR-3”, before applying for registration of LLP.
  • Third, apply for approval of name of LLP- The Partners should apply the registrar of his jurisdiction for approval of name of LLP in “Form RUN – LLP” (Reserve Unique Name-Limited Liability Partnership) for registration of unique name with appropriate fees. The form may be either approved or rejected by the registrar on the ground of any default. The partners can re-submit the said form within 15 days after correction of default.
  • Fourth, Verification of Documents and Forms- The partners should verify the enclosed documents and forms which are necessary for registration i.e. All the documents and forms are signed by minimum of two partners and comply all the formalities which are required for registration.
  • Fifth, Filing of Documents and Forms for Incorporation- After verification of the said documents and forms the partners must submit the above documents to the MCA for Incorporation.
  • Sixth, Certificate of Incorporation- After filing all the documents, if they satisfied, the MCA will Issue certificate of Incorporation.
  • Seventh, Prepare LLP Agreement- After issuance of Certificate of Incorporation you can prepare LLP agreement on Stamp paper of proper value.
  • Eighth, Filing of LLP Agreement- After preparation of LLP agreement, the said agreement should be submitted online to the MCA portal in “Form 3”. The said form should be submitted with in 30 days of the date of Incorporation.
See the related post : Rate of Income Tax on LLPs



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