What Are the Procedures for Formation of LLP in India

What Are the Procedures for Formation of LLP in India



The Ministry of Corporate Affairs (MCA) has recently introduced a revamped process for LLP incorporation. The major changes are LLP-RUN service (similar to RUN service for Company Incorporation) for reservation of name and the introduction of Form LLP-Integrated Incorporation (FiLLiP) for the incorporating of an LLP.

Among other things, the new system allows a Limited Liability Partnership to file forms for various statutory registrations such as GSTIN, Employee State Insurance Corporation (ESIC), Employees' Provident Fund Organization (EPFO) etc. All forms and applications are required to be filed online which necessitates a Digital Signature Certificate (DSC) for each Designated Partner of the LLP. The DSC is linked to the PAN card and a passport size photograph of the person signing on behalf of the LLP is also required.

Prior to filing any application, it is prudent to conduct a free name search on the MCA portal to ensure that the proposed LLP name is not identical or undesirable to an existing LLP. The Registrar of the LLP shall approve the LLP's name only if it is distinct from any other names already registered and if it is not deceptive in any way.

Once the name is approved, the applicant has to submit the e-form FiLLiP along with the documents such as proof of address of the registered office, details of designated partners, DPIN allotment, the LLP deed and declaration signed by all of the Managing Directors/Partners. Upon approval of the e-form, the Registrar issues the Certificate of Incorporation within 14 days and allots an LLP Identification Number (LLPIN).

 

 Tel:+917299972500

info@filingpoint.com

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