LLP Registration: Documents and Process

Limited Liability Partnerships (LLP) serve as a boon for those who want to register their business and have minimal compliances to be taken care of. Let us guide you through the LLP Registration process and the required documents for incorporating an LLP.

An easy web-based process

To facilitate ease of doing business, the Ministry of Corporate Affairs has introduced V.3 web-based application to register the LLP. All the details are required to be entered online. After the details are entered, the applicant needs to download the forms, sign them using their digital signatures, upload them and pay the required fees.

FOLLOWING ARE THE STEPS TO INCORPORATE AN LLP

Name Approval

The applicant can either apply for name reservation first and then proceed with incorporation or apply for name and incorporation simultaneously. Care is to be taken that the names do not resemble to the existing LLPs/Companies or similar trademarks in the respective TM Classes.

In order to apply only for name reservation, the applicant needs to fill form LLP-RUN by logging into the MCA site. After the payment of the requisite fess, the application can be accepted or rejected. If accepted, then the applicant can proceed with the incorporation process within 90 days from the approval date.

Registration application

The registration application named FiLLiP has to be filled online. Some important details to fill in the form include:

• Type of incorporation: new, conversion of firm into LLP, conversion of company into LLP
• If applying for name with incorporation: then details of proposed name, significance of the name,
• Address of registered office of LLP, contact details
• Details of business activity to be carried out by the LLP on incorporation /conversion
• Information about designated partners and partners and the contribution details
• If one of the partners is a body corporate, then details of the body corporate

Mandatory Attachments

• Approval of the owner of the trademark or the applicant of such application for registration of Trademark
• Copy of Board resolution of the existing company or consent of existing LLP as a proof of no objection
• Proof of Office address along with NOC, if applicable (Conveyance / Lease deed/Rent Agreement along with rent receipts)
• Copy of the utility bills (not older than two months)
• ID/address proof
• Copy of resolution on the letterhead of such body corporate to become a partner in the proposed LLP
• A copy of resolution/ authorization of such body corporate on a letterhead mentioning the name and address of an individual nominated to act as nominee/designated partner on its behalf
• Subscribers’ sheet including consent.
• Valuation Certificate (if the contribution by the partners is other than cash)

Fees

After the payment of fees, the application moves forward for scrutiny checks. Queries can be sent for obtaining additional information to the applicant. The applicant can resubmit the form with the additional information.

Approval with COI and other approvals like PAN, and TAN

After the registration process is completed, the applicant receives the approval with the registration certificate, E-PAN and E-TAN certificates. An identification number termed as LLPIN (LLP Identity Number) is generated to be used as an identity by the LLP in future.

Filing of Form 3 with LLP Agreement

Every LLP after receiving its Certificate of Incorporation has to file Initial LLP Agreement within 30 days of its Incorporation. If there is delay in filing the Form 3, there is late fees of INR 100 per day. Stamp Duty on LLP Agreement is based on the State Stamp Act of the state where the LLP is registered. This will be same as applicable for the Partnership Firm in that state.