LLP (Limited Liability Partnership) Registration :
A Limited Liability Partnership is a hybrid of Company and Partnership form of business. It combines the advantages of both the Company and Partnership into a single form of organization. It enjoys the benefits of having a separate legal entity, perpetual succession and a limited liability. Features of LLP : 1. Separate Legal Entity with perpetual succession 2. Every LLP shall have either the words " LLP " or " Limited Liability Partnership "as a last word of its name. 3. No Minimum Authorised capital required for as LLP. 4. No restriction on maximum numbers of partners 5. Lesser statutory formalities as compare to Private Limited Company Minimum Requirements for LLP Registration: 1. Minimum Two Persons required for LLP Registration. 2. All Designated Partners must have DIN No. 3. All Designated Partners must have PAN No. 4. All Designated Partners must have at least One Address proof in their own name 5. For Registered office of Proposed LLP
Steps for LLP Registration :
1. Obtaining DIN and DSC DSC is the digital signature issued by the MCA for electronic submission of the company related documents and is granted to anyone authorized person of the proposed company. DIN is the identification number mandatory required for each of the proposed directors of the Indian company. DIN is also issued by the MCA. Both DSC and DIN are mandatory and to be obtained before initiating further steps 2. Name Approval The next step is to decide the name for the proposed LLP to be incorporated, anyone intending to incorporate an LLP has to evaluate his proposed name under the prescribed parameters and make an application. ROC will provide a written confirmation of the name he would allow the proposed Indian LLP to use. 3. Drafting of LLP Agreement Another pertinent step is drafting of LLP agreement governing the mutual rights and duties among the partners and among the LLP and its partners. It is not necessary to have the LLP Agreement signed at the time of incorporation, as the details of the same needs to be filled within 30 days of incorporation. 4. Filing of Incorporation document Next is the filing of Incorporation documents, consent of Partners and declaration electronically through the medium of e-forms prescribed with the Registrar of LLP for incorporation of the LLP on payment of prescribed fees based on the total monetary value of contribution of partners in the proposed LLP. 5. Certificate of Incorporation After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation 6. Filing LLP Agreement with ROC After receipt of Certificate of Incorporation from Registrar, LLP Agreement must be filed within 30 days from date of certificate of incorporation. On approval of LLP agreement from MCA LLP registration procedure is completed. Note: 1. Stamp duty on LLP Agreement is payable by Promoters of LLP. 2. Total Time required is Minimum 20 Working Days. 3. There is no Minimum Capital is Prescribed by the Act means one can form LLP by Rs. 5,000/- also.  |
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