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How to Incorporate a Limited Liability Partnership Online

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Last Updated on June 22, 2023 by Kanakkupillai

How to Incorporate a Limited Liability Partnership Online

The Limited Liability Partnership (LLP) company structure is well-liked and recognized around the world. Corporate clients, suppliers, and governmental organizations prefer working with LLP registration over sole proprietorships or traditional partnerships. Despite having less compliances than the company, the firm still needs to be taken care of. If disregarded, a late charge penalty metre will increase.

Obtain Digital Signature Certificate (DSC)

Apply for a Digital Signature Certificate (DSC) online through a government-approved agency or certifying authority

To obtain a Digital Signature Certificate (DSC), you can apply online through a government-approved agency or certifying authority. Follow their application process, provide the required documents and information, and complete any necessary verification procedures. Once approved, you will be issued a DSC for secure digital transactions.

Complete the necessary documentation and verification processes

To obtain a Digital Signature Certificate (DSC), you need to follow certain documentation and verification processes. Firstly, fill out the DSC application form, providing accurate personal and professional details. Next, submit the necessary supporting documents, such as proof of identity, proof of address, and passport-sized photographs. Then, complete the verification process by appearing in person at the designated authority or through a video verification call. Finally, pay the prescribed fees and await the issuance of your DSC, which will serve as your secure digital signature for online transactions and authentication purposes.

Collect the digitally signed DSC once approved

Once approved, the digitally signed DSC (Digital Signature Certificate) can be collected. This certificate serves as an electronic identification that validates the authenticity and integrity of digital documents. It ensures secure transactions and communications, guaranteeing the identity of the signatory. The DSC can be obtained from the authorized issuing authority or through a secure online platform.

Register for Director Identification Number (DIN)

Each designated partner of the LLP needs to obtain a Director Identification Number (DIN)

For LLP registration in India, each designated partner must obtain a Director Identification Number (DIN). The DIN is a unique identification number assigned by the Ministry of Corporate Affairs. It serves as an identification for individuals acting as directors in LLPs, ensuring transparency, accountability, and compliance with regulatory requirements.

File an online application with the Ministry of Corporate Affairs (MCA) for DIN allotment

To register a Director Identification Number (DIN) for LLP registration in India, file an online application with the Ministry of Corporate Affairs (MCA). Submit the necessary documents, such as identity and address proofs, along with the application. Pay the prescribed fees and await approval from the MCA for the issuance of DIN.

Provide the required documents, including identity proof and address proof, along with the application

To register a Director Identification Number (DIN) for LLP (Limited Liability Partnership) registration in India, the following documents are typically required: identity proof (such as PAN card or passport), address proof (such as Aadhaar card or utility bill), and a passport-sized photograph. These documents must be submitted along with the DIN application form for processing.

Upon approval, receive the DIN for each designated partner

After approval, the DIN (Director Identification Number) is issued for each designated partner in India for LLP (Limited Liability Partnership) registration. DIN is a unique identification number required for individuals serving as directors in companies or designated partners in LLPs. The DIN can be obtained through the Ministry of Corporate Affairs or its online portal.

Reserve a Unique Name

Choose a unique name for your LLP and check its availability on the MCA portal

To choose a unique name for your LLP (Limited Liability Partnership), you can brainstorm and select a suitable name that aligns with your business objectives. Once you have a name in mind, you can check its availability on the MCA (Ministry of Corporate Affairs) portal in India. This ensures that your chosen name is not already registered by another entity.

Submit an online application for name reservation along with the desired names in order of preference

To submit an online application for name reservation during the registration of an LLP in India, you need to provide the desired names in order of preference. The application can be filed through the MCA portal, along with the required documents and fees. The MCA will process the application and assign a name based on availability and compliance with naming guidelines.

Pay the prescribed fee and wait for the approval of the name reservation request

After submitting the online application for name reservation of an LLP in India, you need to pay the fee. Once the fee is paid, you must wait for approval of the name reservation request. The MCA will review the application, and upon approval, the reserved name will be allotted for the registration of your LLP.

Prepare LLP Agreement

Draft the LLP Agreement, which outlines the rights, duties, and responsibilities of the partners and the LLP itself

The LLP Agreement is a crucial document that outlines the rights, duties, and responsibilities of partners and the LLP during its incorporation in India. It covers aspects such as profit sharing, capital contributions, decision-making processes, partner exits, and dispute resolution mechanisms. Consulting a legal professional is recommended for drafting a comprehensive LLP Agreement.

Include the proposed name of the LLP, registered office address, capital contribution, profit sharing ratio, etc

In the draft LLP Agreement for the incorporation of an LLP in India, the following details can be included:

  1. proposed name of the LLP,
  2. registered office address,
  3. capital contribution by each partner,
  4. profit sharing ratio among partners,
  5. decision-making processes, partner responsibilities, partner exits, and
  6. dispute resolution mechanisms.

These details help establish the framework and guidelines for the LLP’s operations.

Ensure compliance with the LLP Act and applicable regulations while drafting the agreement

While drafting the agreement for the incorporation of an LLP in India, it is essential to ensure compliance with the LLP Act and applicable regulations. This includes adhering to the provisions related to partner rights, capital contribution, profit sharing, partner liability, filing requirements, and any other legal requirements stipulated by the authorities. Professional legal guidance is recommended for compliance assurance.

File Incorporation Documents

Prepare the necessary incorporation documents, including Form FiLLiP (Form for incorporation of LLP) and Form LLP Agreement

To complete the incorporation process of an LLP in India, the necessary documents include Form FiLLiP (Form for incorporation of LLP) and Form LLP Agreement. Form FiLLiP captures details such as LLP name, registered office address, partners’ information, capital contribution, and other required information. Form LLP Agreement contains the drafted LLP Agreement that outlines the partnership terms and conditions.

Fill in the required information, such as LLP name, registered office address, partners’ details, etc., in the respective forms

To complete the forms for the incorporation of an LLP in India, you need to provide the following information:

  1. LLP Name: Enter the proposed name of the LLP.
  2. Registered Office Address: Specify the address where the LLP’s registered office will be located.
  3. Partners’ Details: Provide the required information about the designated partners, including their names, addresses, DINs (Director Identification Numbers), and other relevant details.

Ensure accurate and up-to-date information is provided in the respective forms for a smooth incorporation process.

Attach the supporting documents, including DSC, DIN, and LLP Agreement, as prescribed by the MCA

While applying for the incorporation of an LLP in India, the following supporting documents should be attached as prescribed by the MCA:

  1. Digital Signature Certificates (DSC) of designated partners.
  2. Director Identification Numbers (DIN) of designated partners.
  3. Drafted LLP Agreement, signed by all partners.

These documents verify the authenticity and compliance of the LLP incorporation application.

Payment of Fees and Stamp Duty

Calculate the fees and stamp duty applicable based on the LLP’s capital contribution and state regulations

The fees and stamp duty applicable for LLP incorporation in India vary based on the LLP’s capital contribution and state regulations. The fees include the prescribed incorporation fee and additional fees for filing forms. Stamp duty varies by state and is calculated as a percentage of the LLP’s capital contribution. Consulting state-specific regulations and authorities is recommended for accurate fee calculation.

Make the required payment online through the MCA portal or designated payment gateways

To make the required payment for the incorporation of an LLP in India, you can utilize the MCA portal or designated payment gateways. These platforms provide secure online payment options, enabling you to pay the prescribed fees and stamp duty conveniently during the LLP incorporation process.

Obtain the payment receipt or challan for future reference

Submit Incorporation Forms

Upload the duly filled and signed incorporation documents, including Form FiLLiP and Form LLP Agreement, on the MCA portal

To complete the incorporation of an LLP in India, the duly filled and signed incorporation documents, including Form FiLLiP and Form LLP Agreement, should be uploaded on the MCA (Ministry of Corporate Affairs) portal. These documents serve as the basis for processing the LLP incorporation application and ensure compliance with regulatory requirements.

Review the details and ensure accuracy before submission

Before submitting all the forms for the incorporation of an LLP in India, it is crucial to thoroughly review the details and ensure accuracy. Verify the LLP name, registered office address, partners’ information, capital contribution, and other required information to avoid any errors or discrepancies that may cause delays or complications in the incorporation process.

Pay attention to any errors or omissions that may lead to rejection or delays

Pay careful attention to any errors or omissions in the forms before submitting them for the incorporation of an LLP in India. Mistakes or missing information can lead to rejection or delays in the process. Ensure all details are accurate, complete, and comply with the prescribed guidelines to avoid any complications during the incorporation process.

Conclusion

Kanakkupillai will assist you with obtaining all relevant documentation, completing the necessary forms, and registering for the Company Registration in India process. Throughout the procedure, our team of professionals will help you and make sure that all legal criteria are met. With our help, you can be sure that the LLP registration process will go quickly and smoothly. Approximately, you can establish an LLP with Kanakkupillai in 14–20 days. While you focus on what you do best, let our team of experts handle your taxes and business compliances!

FAQ on LLP Registration

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Kanakkupillai

Kanakkupillai is your reliable partner for every step of your business journey in India. We offer reasonable and expert assistance to ensure legal compliance, covering business registration, tax compliance, accounting and bookkeeping, and intellectual property protection. Let us help you navigate the complex legal and regulatory requirements so you can focus on growing your business. Contact us today to learn more.