What are steps for Incorporation of Limited Liability Partnership (LLP)?

LLPs are popularly known as a business entity that combines the benefits of a partnership firm and company. There are minimum compliances for incorporation of such entities making LLPs a preferred business entity. In addition, regulatory compliances are also lesser as mandatory audits are only for LLP Company registration in delhi with capital exceeding 25 lakhs or turnover more than 40 lakhs.

For incorporation every designated partner of LLP has to apply for DPIN, the application for DPIN is submitted online and the documents are attached in the electronic form. In addition, at least one of the designated partners of LLP has to obtain DSC from an authorized certifying agency. Also, Digital Signatures need to be registered on the website of MCA by filing the registration form and uploading DSC. The liability of partners is limited to their contribution stated in the partnership agreement. There is need of at least two partners both residents in India for incorporating an LLP.

MCA provides name search facility on its portal which can be utilized for selecting a name for the LLP. The name of proposed LLP shall not resemble the name of any existing LLP or company. Once the name is shortlisted, the name reservation Form-1 can be filled with up to 6 choices.

After the Government approval for the name is obtained, incorporation application is filed along with the supporting documents. The incorporation certificate is issued in Form 16 after the application is found satisfying by the ROC. It is followed by the drafting of LLP agreement which is signed by both Designated Partners and two witnesses. This agreement shall be filed within 30 days from the date of Incorporation.

CCV is a brand for Secretarial Services also providing assistance for LLP Registration.