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LIMITED LIABILITY PARTNERSHIP: PROCEDURE FOR FORMATION

A Limited Liability Partnership is a body corporate formed and incorporated under the Limited Liability Partnership Act, 2008 and is a legal entity separate from that of its partners and has perpetual succession.

Process of Registration as LLP

Step 1: Obtain Digital Signature Certificate for the designated partners (designated partners are as good as the board of directors of a company)

Step 2: Apply for Director Identification Number (DIN) of all designated partners

Step 3: Apply for name approval in INC-Spice (RUN-LLP)

Step 4: File for the incorporation of LLP (Form FiLLiP)

Step 5: Draft and File LLP Agreement which shall also stipulate the business objects of the LLP

Forms to be filed with the MCA

Form  Name Form Purpose
1.      RUN-LLP (Reserve Unique Name Limited Liability Partnership–allowed only 2 proposed names)

 

 Form for reserving a name for the LLP
2.      FiLLiP Form for incorporation of LLP
3.      Form-3 Limited Liability Partnership Deed (LLP AGREEMENT

Documents Required:

1.Of all the Partners:

Scanned copies of:

  • Self –Attested PAN Card/ ID Proof of the Partners
  • Self –Attested Address Proof of the partners
  • Self –Attested Residence Proof of Partners
  • Photograph
  • Passport (in case of Foreign Nationals/ NRIs)

2.Of the proposed LLP:

Scanned copies of:

  • Proof of Registered Office Address (Lease Deed / Rental Agreement)
  • Digital Signature Certificate
  • NOC –In case of Premises of Registered Office is others

Cost Involved in the Registration Process

The government fees for filing forms:

Step Cost
Step 1 – DSC Around Rs. 1500-2000 for 2 partners(varies depending on the agency)
Step 2 – DIN Rs. 1000 for 2 partners
Step 3 – Name Reservation Rs. 200
Step 4 – Incorporation Depends on capital contribution.

Contribution up to Rs. 1 lakhs – Rs. 500,

Contribution between Rs. 1 and 5 lakhs – Rs. 2000

Step 5 – LLP Agreement Depends on capital contribution.

Contribution up to Rs 1 lakhs – Rs 50 for filing Form 3

and stamp duty based on the state where LLP is formed

Post Author: Team VirtuaLaw

The team of VirtuaLaw has a mix of young and budding professionals in the field of Law, Chartered Accountancy, Company Secretaryship and Cost Accountancy who are curious about writing articles of relevance.

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