New LLP Registration Process

Introduction

Limited Liability Partnership (LLP) has become a preferable form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. It is governed by the provisions of Limited Liability Partnership Act, 2008.

Features of LLP

It has a separate legal entity like companies
The liability of each partner is limited to the contribution made by them
The cost of forming and running LLP is low compared to companies
Less compliance and regulations
No requirement of minimum capital contribution

Pre-registration requirement

Number of partners = Minimum 2, Maximum No limit

Number of designated partners = Minimum 2 (at least one should be resident in India)

Charter of LLP = LLP Agreement

Process of Registration as LLP

Step 1: Obtain DSC

Before initiating the process of registration, you must apply for class 2 digital signature of the designated partners of the proposed LLP. This is because all the documents for LLP are filed online and are required to be digitally signed.

Step 2: Name Approval

File ‘RUN LLP’ which is a web service in which you can fill 2 proposed names of LLP. RUN LLP can be accessed after login to MCA. RUN LLP will be processed by Central Registration Centre (CRC).

Step 3: Incorporation of LLP

Form FiLLiP is the application form for the incorporation of the LLP. FiLLiP will be an integrated form offering multiple services viz. allotment of DIN, Reservation of Name and Incorporation of LLPs. Consequent upon notification of FiLLiP, existing Form 2 will be replaced with these new form.

Attachments of FiLLiP

Subscribers Sheet and Consent
PAN Card and Aadhar Card of Partners and Designated Partners
Proof of Registered Office like Sale Deed/Rent Agreement etc
Utility Bill like Electricity/Gas/Telephone Bill (NOT OLDER THAN 2 MONTHS)
NOC of owner to use premises as Regd office of Company
Details of LLP and Company in which partner/designated partner is a Director/Partner

Step 4: File LLP Agreement

LLP agreement governs the mutual rights and duties amongst the partners and also between the LLP and its partners. LLP agreement must be filed within 30 days of incorporation in form 3. The LLP Agreement has to be printed on Stamp Paper. The value of Stamp Paper is different for every state.

Author Bio

Name: Dhaval Gusani

Qualification: CS

Company: DVG & Associates

Location: Mumbai, Maharashtra, IN

Member Since: 02 Feb 2018 | Total Posts: 40

CS Dhaval Gusani is a founder of DVG & Associates, Company Secretaries and Corporate Law Professionals. He is a Commerce Graduate and an Associate Member of the Institute of Company Secretaries of India (ICSI). He has cumulative experience of more than 3 years with Listed Company, Chartered Acco View Full Profile