Limited Liability Partnership (LLP) is a partnership firm in which the company enjoys both, the rights of the private limited company and a public limited company. The vital reason to introduce the LLP as a corporate entity is to provide a form of business that is effortless to maintain by the partners by providing limited liabilities to the owner. In India, LLP is one of the easiest forms of business with respect to the process of LLP incorporation and its management. The LLP does not restrict with the capital contributed by the partners. The LLP registration process is a tedious and time-taking procedure.
Steps for LLP Registration Process in India
Limited Liability Partnership Registration Process is followed according to steps mentioned below:
Step 1: Application for DIN/DPIN
All the designated partners of the proposed LLP must obtain “Designated Partner Identification Number (DPIN)”. The applicant has to file the e-Form DIR-3 to obtain the DIN/DPIN. If the proposed director is already having the DIN, the same can be used as the DPIN.
Step 2: Acquire/Register for DSC
The Digital Signatures Certificates (DSC) must be attached to the submitted documents will be in electronic form in order to maintain the applicant’s security and authenticity of the electronically filed documents. The DSC can only be acquired through the Certifying Authority (CA), who has been granted a license to issue a digital signature certificate.
Step 3: New User Registration
Any new user has to first register itself on the Ministry of Corporate Affairs (MCA) portal in the correct user category. To avail, any service on the portal, the user has to file an e-Form and pay the required department fees.
Step 4: Incorporation of an LLP
The user has to fill the Form 1 (Application for Reservation/Change of Name) to apply for the name that is to be registered after that depending upon the proposed LLP file required incorporation and fill Form 2 (Incorporation Document and Subscriber’s Statement). A mail will be received on the registered e-mail ID regarding the form and the status of the form after it is approved by the concerned officials of the department.
Step 5: File LLP agreement
After successful incorporation of the LLP, an initial LLP agreement is to be filed within 30 days of incorporation. The user has to fill the information in Form 3 ( Information with regard to the Limited Liability Partnership Agreement and changes, if any, made therein).
These are the steps mentioned above that are to be followed in the LLP Registration Process.