Procedure to Registration of Limited Liability partnership

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Objective

Whenever a person wants to start any business he/she needs to select the form in which he/she going to operate. If he/she decided to run their business in the form of Limited liability Partnership (LLP), then there is lots of question arises in their mind like how to incorporate the company and what is the compliance he/ she has to perform to proceed with their goals of doing business. So, to guide/assist them all I have mentioned some details below which should be kept in mind before taking any decision.

Procedural Part for LLP incorporation 

To incorporate LLP, one should follow the below procedure:

STEP 1DSC requirement

To start the process of Limited Liability Partnership registration, first, we need to apply for the digital signature of the designated partners. This is important because all the documents required in the online LLP registration are digitally processed and would require digital signatures (DSC) of the designated partners. DSC certificates can avail from government recognized certifying agencies

STEP 2: DIN requirement

DIN is required by all designated partners or those who are intending to become the designated partners of the proposed LLP. In the current LLP registration process, we don’t need to separately apply for DIN rather during LLP registration when we fill FILLIP FORM where DIN can apply accordingly are allot.

STEP 3: Approval or Reservation of Name

In this, we should apply for the NAME registration facility which has been given by MCA.  We need to give any 2 names, which we want to be the name of LLP. Then, the appropriate authority will Reserve any 1 name out of the 2 provided subject to availability and the same should be intimated to us. After that, we need to incorporate the LLP within 90 days from the name reservation date by filing FORM FILLIP.

STEP 4: Incorporation of LLP

To proceed further, we need to fill FILLIP FORM which can be downloaded from the MCA website. This form requires details such as particulars of

  • the proposed or approved name of the LLP,
  • business activity is supposed to be carried out by the LLP,
  • proof of address of registered office of the LLP,
  • subscriber’s sheet, Interest in other entity, consent to become designated partner, details of the designated partners along with the DPIN,
  • The total monetary value of the contribution to be made by partners in the LLP etc.

    Document required (before Application)

  • Proof of Office address
  • NOC from the owner of the property.
  • Copy of the utility bills (not older than two months)
  • Subscriber Sheet including Consent.
  • In the case of Designated Partner does not have a DIN, it is mandatory to attach: Proof of identity and residential address of the subscribers (i.e KYC)
  • Details of LLP and/ or company(s) in which partner/designated partner is a director/ partner
  • Partnership Agreement filed in FORM 3.
  • Proof of identity and address of Applicant I, II.
  • Optional Attachment (if any).

STEP 5: Partnership Agreement (FORM 3)

After the FILLIP form, we should fill the details of the LLP Agreement into FORM 3

attach agreement therein.

STEP 6: Closure Procedure

In the end, we have to file the FILLIP and FORM 3 to the MCA website electronically along with the statutory fees.

Conclusion

To conclude, one should apply for the registration of a LLP as the procedure mentioned above so that no interruption will arise thereafter.

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