LLP Registration Procedure Introduction:
The Limited Liability Partnership (LLP) is a separate legal entity enjoying the benefits of Limited Liability.
It is governed and registered under the Limited Liability Partnership Act 2008 (notified on March 31, 2008) and the rules followed there. SMB (LLP) can act as a limited liability company.
LLP is suitable for the service sector especially for professionals such as corporate trustees, accountants, lawyers, cost accounting, etc.
Advantages:
Limited liability partnership combines the advantages of both company and partnership in one form of organization.
In an LLP partner, a partner is not responsible for or is responsible for misconduct or negligence of another partner.
In LLP, all partners have a limited liability to protect each individual in the partnership, similar to the liability of shareholders in a limited company.
However, unlike shareholders in the company, the partners are entitled to conduct business directly. LLP also limits the Partner's personal liability for errors, omissions, incompetence or negligence of LLP or other agents.
Requirements
1. At least two LLP partners will be required. There will be no maximum number of partners.
2. A legal person can be a partner in LLP as well. Designated Partner:
1. Each LLP must have at least two designated partners.
2. Designated Partners shall be individuals.
3. At least one of the designated partners must be a resident of India.
4. In the case of LLP where all partners are companies or companies with one or more partners or joint entities, there must be at least two LLP partners or candidates for these companies as relevant partners.
Registered Office: 1. Each LLP shall have a registered office where all communications and notices can be directed and received. (Section 13)
LLP Incorporation Process:
Step 1: Get / Register DSC The designated partner (or designated) must have a digital signature certificate (DSC). The Information Technology Act 2000 (Information Technology Act) provides for the use of DSC in documents submitted in electronic form in order to ensure the security of documents deposited electronically. Estimated fees for a certificate undefined The digital signature is 1000 rupees /. Obtain a certified DSC-A certificate (CA) issued with a digital signature. Certification Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Article 24 of the Information Technology Act. DSC registration - DSC must be registered as soon as it is released from CA by checking the role on the MCA21 portal where DSC can only be used for online filing of electronic LLP forms.
Step 2: Request for DIN or DPIN The designated LLP partners are required to apply for DIN / DPIN on the DIR-3 form by attaching the prescribed documents. DIN / DPIN is an eight-digit numeric number assigned by the Ministry of Corporate Affairs in order to identify a specific partner from LLP. Pay the necessary fees from Rs.500 / - via credit / debit / net bank card. Note: If the proposed specific partner who already has DIN / DPIN needs no follow-up, apply for another DIN / DPIN. The following information should be provided in the form of DIR-3: Father's name. Clear a copy of the image. Food card. Aadhaar card. Clear a copy of the address. DSC Presenter undefined the demand. DSC of CA / CS / Cost Accountant / Director of any company.
Step 3: Search for name availability Criteria for name approval Choosing a business name is critical to your project image. You choose a name that reflects the business you are planning. Make sure that the specified name meets the Ministry of Corporate Affairs LLP name guidelines.A free name search facility (for existing companies / LLPs) is available on the MCA portal. The system will provide a list of similar names / closely similar to existing companies / LLPs based on the search criteria being populated. Link below:
Step 4: Fill form llp-1 (name approval) - Section 16 After searching for name approval, if the name is available according to Your search. Then download the LLP-1 form from the link below:
The following information should be provided in the LLP-1 DIN form of the designated partner. Email ID Profession State Registration Office LLP Objects LLP Contribution LLP LLP Name Significant of undefined Name If the proposed name is based on the DSC owner's (NOC TM) trademark for the designated partner Note: ** If you are required to update the housing status or not display the housing status; you must present the DIN-4 form on the MCA21 gateway to update the accuracy undefined
The following information should be provided in the LLP-
1 DIN form of the designated partner. E-mail ID Profession State Registration LLP LLP LLP LLP LLP Name of the proposed name if the proposed name is based on the DSC owner's (NOC) trademark of the designated partner Note: ** In case of display, You are required to submit a DIN-4 form on the MCA21 portal to update the residential status of DP before submitting this form. Make sure that the correct details have been provided where the form itself is automatically populated in Form 2 for the LLP Merge. Append digital signatures and submit an electronic form. Pay the necessary fees of Rs 200 / - via credit / debit card / net bank. Upon receipt of an application under Article 16 (1) and to pay the prescribed fees of Rs. 200. The Registrar may, if satisfied, be subject to the rules established by the central Government and the name to be reserved is not the name that can be refused on any basis referred to in article 15, subsection (2), retain the name for three Months from the date of notification by the Registrar. Step 5: Depositundefined (Form 2) of the Founding Document and Subscription Upon receipt of the ROC Name Approval Letter within 90 days, all required documents must be prepared to be attached to the Form-2 and Form-2 file and obtained. ROC. Download the LLP-2 form from the below link given: http://www.mca.gov.in/MinistryV2/llpformsdownload.html Required information to refer to Form LLP-2 Enter the proposed address of the registered office and the correct e-mail address from LLP. Enter the main section of the industrial activity - "below in Appendix A" Enter the number of the designated partner. Enter the total cash value of the contribution from all partners / partners assigned to the LLP. The contribution value can not be less than the contribution made at the time the name is available. Documents required for licensing in the LLP-2 form Verify the registered office address of the LLP participant's certificate including the detailed approval of the LLP (s) and / or the company (s) in which the partner / partner designated as a manager / partner (if any). Note: Once the Registrar is satisfied that all formalities with respect to incorporation have been complied with, the Certificate of Incorporation will be issued undefined On the formation of an LLP within a maximum period of 14 days from the date of deposit of the documents. The issued incorporation certificate must be the definitive guide to the formation of LLP. Upon incorporation, an LLP (LLPIN) ID is assigned to each consecutive string. Step 6: Formulation of an LLP Agreement Section 23 (3) of the LLP Act states that the agreement was written prior to the establishment of an LLP company between persons who bought their name in the incorporation document . This is common, and it is also advisable, to have an agreement between the persons who bought their names in the incorporation documents of the LLP. These agreements are usually related to the initial expenses and prior to the establishment of LLP and its subsequent ratification by LLP, after incorporation. The Secton Convention 23 (3) suggests that such an agreement (s) may impose obligations on an LLP only when such an agreement (s) is ratified by all partners after the merger of LLP. The LLP agreement is a very long document and should be on stamp paper. The LLP must be stamped in accordance with applicable applicable law in the relevant case undefined In which LLP is included. Including the following: the effective date of the LLP agreement, the registered office of LLP, the LLP's work, the contribution of the partners, the profit sharing ratio, the terms of acceptance, resignation, retirement and cessation of partners, removal of partners, Meetings, LLP liability, conclusion & solution, accounting year, audit, jurisdiction, validity of this agreement ect. Step 7: Fill out an LLP (form-3) agreement that is not mandatory to conclude an LLP at the time of registration and the same file can be in the form of LLP-3 within 30 days of the establishment of LLP. The designated partners are responsible for all actions, matters and things to be performed to comply with the provisions of the LLP Act. They are subject to all penalties imposed on LLP. It is therefore extremely important to formulate an LLP with professional assistance. You must load an LLP agreement. Once approved, all registration procedures are completed. Pay the necessary fee of Rs 50 / - via credit / debit / net bank card. Step 8: Apply the PAN to the LLP after agreeing to send the letter by the MCA undefined Your registered email ID on Form-3, the next time you need it undefined
The Limited Liability Partnership (LLP) is a separate legal entity enjoying the benefits of Limited Liability.
It is governed and registered under the Limited Liability Partnership Act 2008 (notified on March 31, 2008) and the rules followed there. SMB (LLP) can act as a limited liability company.
LLP is suitable for the service sector especially for professionals such as corporate trustees, accountants, lawyers, cost accounting, etc.
Advantages:
Limited liability partnership combines the advantages of both company and partnership in one form of organization.
In an LLP partner, a partner is not responsible for or is responsible for misconduct or negligence of another partner.
In LLP, all partners have a limited liability to protect each individual in the partnership, similar to the liability of shareholders in a limited company.
However, unlike shareholders in the company, the partners are entitled to conduct business directly. LLP also limits the Partner's personal liability for errors, omissions, incompetence or negligence of LLP or other agents.
Requirements
1. At least two LLP partners will be required. There will be no maximum number of partners.
2. A legal person can be a partner in LLP as well. Designated Partner:
1. Each LLP must have at least two designated partners.
2. Designated Partners shall be individuals.
3. At least one of the designated partners must be a resident of India.
4. In the case of LLP where all partners are companies or companies with one or more partners or joint entities, there must be at least two LLP partners or candidates for these companies as relevant partners.
Registered Office: 1. Each LLP shall have a registered office where all communications and notices can be directed and received. (Section 13)
LLP Incorporation Process:
Step 1: Get / Register DSC The designated partner (or designated) must have a digital signature certificate (DSC). The Information Technology Act 2000 (Information Technology Act) provides for the use of DSC in documents submitted in electronic form in order to ensure the security of documents deposited electronically. Estimated fees for a certificate undefined The digital signature is 1000 rupees /. Obtain a certified DSC-A certificate (CA) issued with a digital signature. Certification Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Article 24 of the Information Technology Act. DSC registration - DSC must be registered as soon as it is released from CA by checking the role on the MCA21 portal where DSC can only be used for online filing of electronic LLP forms.
Step 2: Request for DIN or DPIN The designated LLP partners are required to apply for DIN / DPIN on the DIR-3 form by attaching the prescribed documents. DIN / DPIN is an eight-digit numeric number assigned by the Ministry of Corporate Affairs in order to identify a specific partner from LLP. Pay the necessary fees from Rs.500 / - via credit / debit / net bank card. Note: If the proposed specific partner who already has DIN / DPIN needs no follow-up, apply for another DIN / DPIN. The following information should be provided in the form of DIR-3: Father's name. Clear a copy of the image. Food card. Aadhaar card. Clear a copy of the address. DSC Presenter undefined the demand. DSC of CA / CS / Cost Accountant / Director of any company.
Step 3: Search for name availability Criteria for name approval Choosing a business name is critical to your project image. You choose a name that reflects the business you are planning. Make sure that the specified name meets the Ministry of Corporate Affairs LLP name guidelines.A free name search facility (for existing companies / LLPs) is available on the MCA portal. The system will provide a list of similar names / closely similar to existing companies / LLPs based on the search criteria being populated. Link below:
Step 4: Fill form llp-1 (name approval) - Section 16 After searching for name approval, if the name is available according to Your search. Then download the LLP-1 form from the link below:
The following information should be provided in the LLP-1 DIN form of the designated partner. Email ID Profession State Registration Office LLP Objects LLP Contribution LLP LLP Name Significant of undefined Name If the proposed name is based on the DSC owner's (NOC TM) trademark for the designated partner Note: ** If you are required to update the housing status or not display the housing status; you must present the DIN-4 form on the MCA21 gateway to update the accuracy undefined
The following information should be provided in the LLP-
1 DIN form of the designated partner. E-mail ID Profession State Registration LLP LLP LLP LLP LLP Name of the proposed name if the proposed name is based on the DSC owner's (NOC) trademark of the designated partner Note: ** In case of display, You are required to submit a DIN-4 form on the MCA21 portal to update the residential status of DP before submitting this form. Make sure that the correct details have been provided where the form itself is automatically populated in Form 2 for the LLP Merge. Append digital signatures and submit an electronic form. Pay the necessary fees of Rs 200 / - via credit / debit card / net bank. Upon receipt of an application under Article 16 (1) and to pay the prescribed fees of Rs. 200. The Registrar may, if satisfied, be subject to the rules established by the central Government and the name to be reserved is not the name that can be refused on any basis referred to in article 15, subsection (2), retain the name for three Months from the date of notification by the Registrar. Step 5: Depositundefined (Form 2) of the Founding Document and Subscription Upon receipt of the ROC Name Approval Letter within 90 days, all required documents must be prepared to be attached to the Form-2 and Form-2 file and obtained. ROC. Download the LLP-2 form from the below link given: http://www.mca.gov.in/MinistryV2/llpformsdownload.html Required information to refer to Form LLP-2 Enter the proposed address of the registered office and the correct e-mail address from LLP. Enter the main section of the industrial activity - "below in Appendix A" Enter the number of the designated partner. Enter the total cash value of the contribution from all partners / partners assigned to the LLP. The contribution value can not be less than the contribution made at the time the name is available. Documents required for licensing in the LLP-2 form Verify the registered office address of the LLP participant's certificate including the detailed approval of the LLP (s) and / or the company (s) in which the partner / partner designated as a manager / partner (if any). Note: Once the Registrar is satisfied that all formalities with respect to incorporation have been complied with, the Certificate of Incorporation will be issued undefined On the formation of an LLP within a maximum period of 14 days from the date of deposit of the documents. The issued incorporation certificate must be the definitive guide to the formation of LLP. Upon incorporation, an LLP (LLPIN) ID is assigned to each consecutive string. Step 6: Formulation of an LLP Agreement Section 23 (3) of the LLP Act states that the agreement was written prior to the establishment of an LLP company between persons who bought their name in the incorporation document . This is common, and it is also advisable, to have an agreement between the persons who bought their names in the incorporation documents of the LLP. These agreements are usually related to the initial expenses and prior to the establishment of LLP and its subsequent ratification by LLP, after incorporation. The Secton Convention 23 (3) suggests that such an agreement (s) may impose obligations on an LLP only when such an agreement (s) is ratified by all partners after the merger of LLP. The LLP agreement is a very long document and should be on stamp paper. The LLP must be stamped in accordance with applicable applicable law in the relevant case undefined In which LLP is included. Including the following: the effective date of the LLP agreement, the registered office of LLP, the LLP's work, the contribution of the partners, the profit sharing ratio, the terms of acceptance, resignation, retirement and cessation of partners, removal of partners, Meetings, LLP liability, conclusion & solution, accounting year, audit, jurisdiction, validity of this agreement ect. Step 7: Fill out an LLP (form-3) agreement that is not mandatory to conclude an LLP at the time of registration and the same file can be in the form of LLP-3 within 30 days of the establishment of LLP. The designated partners are responsible for all actions, matters and things to be performed to comply with the provisions of the LLP Act. They are subject to all penalties imposed on LLP. It is therefore extremely important to formulate an LLP with professional assistance. You must load an LLP agreement. Once approved, all registration procedures are completed. Pay the necessary fee of Rs 50 / - via credit / debit / net bank card. Step 8: Apply the PAN to the LLP after agreeing to send the letter by the MCA undefined Your registered email ID on Form-3, the next time you need it undefined
