LIMITED LIABILITY PARTNERSHIP: PROCEDURE FOR FORMATION

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

Mr Prakul Thadi is a Company Secretary and Cost Accountant and holds a Masters degree in Law. He co-founded VirtuaLaw in 2017 and is currently the Chief-Editor of the blog at VirtuaLaw. After having gained an industry experience of 3 years he’s currently pursuing Graduate Insolvency Programme (GIP) at the Indian Institute of Corporate Affairs (IICA), Manesar. His interests spread across varied fields of law and majorly corporate laws.