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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;

      Note:

    • 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)

From Partners:

  • PAN and AADHAR;

From LLP:

  • Utility bill not older than two months;
  • No-objection certificate from the owner;

POST-INCORPORATION COMPLIANCES:

  • 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.

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