Incorporation of Limited Liability Partnership (LLP) on MCA V3 Portal

Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. Unlike the general partnerships in India, LLP is a body corporate and legal entity separate from its partners. LLP have perpetual succession and any change in the partners of an LLP shall not affect the existence, rights or liabilities of the LLP. Incorporating LLP is a very simple and hassle-free process. The cost of incorporating LLP is also much cheaper than incorporating a Company.

Checklist for incorporation of LLP on MCA V3 portal-

The MCA21 V3 portal was officially launched during FY 2021-22. However, the rollout was planned in phases, the second phase which included the LLP module, launched on March 8, 2022.

Step 1– Login in the mca.gov.in

Step 2– Go to LLP e-filing under the tab ‘MCA services’

Step 3– Select RUN -LLP (Reserve Unique Name)

Step 4– Select ‘New Incorporation’ under the heading ‘Purpose of filing’

Step 5– Search and select industry sub-class (as per NIC Codes) then feed the main NIC code and Description of the main sub-class

Step 6-Enter the proposed name

Step 7-Attach the PDF file containing the objects of the LLP and the description and meaning of the proposed name

Step 8– Save and submit the form

Step 9– Make a payment of Rs.200 for name Reservation

After the name reservation process is successfully completed and the name is reserved by the Ministry of Corporate Affairs we file for Fillip. The quick steps of filing Form Fillip is as follows-

Quick steps of filing Form Fillip

Step 1– Select the Purpose of filing the Form ( After name is approved fill in the SRN of RUN -LLP and select ‘new incorporation’) and click on save and continue and then select next

Step 2– Fillin the particulars of the Proposed name, Address of registered office of LLP along with longitude and latitude, contact details, choose relevant attachments (Proof of Office address along with NOC, if applicable Conveyance/ Lease deed/Rent Agreement along with rent receipts, Copy of the utility bills not older than two months);

Step 3– Details of business shall be prefilled on the basis on RUN LLP

Step 4– fill in the total number of Designated partners and Partners (Minimum 2 Designated Partner required for a LLP)

Step 5-Fill in the details of the Designated Partner and partner including the monetary value of Contribution and form (attach Identity proof and residential proof of each Designated partner and partner) (*if Body Corporate is a partner, details of such Body Corporate along with the details of the nominee selected by the Body Corporate)

Step 6– Fill information specific to PAN and TAN

Step 7– Attach the subscriber sheet

Step 8– Save and submit the form after filing all details (The cells that are not required to be filled up in the entire form shall remain freeze)

Important points to keep in mind-

• At least one of the Designated Partner shall be resident in India;
• 5 Designated Partners are allowed to apply for DIN through form Fillip;
• Digital signatures of one practicing professional and one designated partner shall be required in FiLLiP but in form 9 (linked form), DSC of each designated partner shall be required;
• Documents required of Designated Partners and Partners-

1. PAN Card/ ID Proof of Partners – All the partners are required to provide their PAN at the time of registering LLP

2. Residence Proof of Partners – Partner can submit any one document out of voter’s ID, passport, driver’s license, utility bills not older than 2 months or Aadhaar card as residence proof. Name and other details as per residence proof and PAN card should be exactly the same. (If Duration of stay at present address is less than 1 year then address of previous residence) Bank Statement or Electricity Bill (in name of partner)

3. Photograph – Partners should also provide their passport size photograph,Details of authorized signatory if partner is a Company.

• Valuation Certificate required (in case of contribution of partners other than cash);
• Fees for filing FiLLip depends on the total contribution;