Procedure For Incorporation of Limited Liability Partnership (LLP) Through Fillip
A Limited Liability Partnership is a partnership firm registered under the Limited Liability Partnership Act, 2008 as a separate legal entity. LLP offers the partners to enjoy the benefits of limited liability at a low cost.
PROCEDURE FOR INCORPORATION:
- Acquire DSC of any Designated Partner;
- Apply for reservation of name through RUN-LLP;
- Apply for the incorporation of the LLP;
- Reservation of name can be applied even at the time of incorporation.
- DIN can be applied through incorporation form up to 2 Designated Partners
- Receipt of Incorporation certificate from RoC;
- Apply for PAN and TAN of LLP;
- Apply for other statutory registrations such as Shops and establishments, EPFO, ESIC, GST, and PT, as applicable; and
- Open the bank account in the name of LLP.
DOCUMENTS REQUIRED FOR INCORPORATION:
From Designated Partners:
- PAN and AADHAR
- Signed subscriber sheet;
- Consent of the designated partner in Form 9
- In case body corporate is DP, copy of the board resolution to incorporate an LLP
- Proof of Identity such as Passport/Voter Identity card/driving license;
- Proof of Address such as Bank Statement/Electricity bill/Telephone bill/Mobile bill (Designated Partner name shall be on such proof)
- Utility bill not older than two months;
- No-objection certificate from the owner;
- Procure the stamp paper by paying an adequate amount of stamp duty.
- Execute the LLP agreement
- File Form 3 by attaching the executed agreement within 30 days from the date of incorporation.
POINTS TO BE NOTED:
- There are two designations provided to partners as per this Act. i.e., Designated Partner and Partner;
- Minimum of 2 Designated Partners are required for incorporation and out of those, one shall be resident in India;
- DPIN is mandatory to become a Designated Partner;
- To become a Partner in LLP, PAN is mandatory and there is no minimum and maximum limit for partners.
- Both Designated Partners and Partners possess the same rights except for the following:
- Designated Partner shall be responsible for filing of any document, return, statement, and the like report as required under the Limited Liability Partnership Act, 2008.
- Designated Partner shall be liable to all penalties as imposed under the above-said act.
- Stamp duty shall be adequate as per the respective state act where the registered office is situated.