Procedure For Incorporation of LLP Through Fillip

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.