The LLP Act requires the formation or registration of a limited liability partnership. Under the terms of law, an application on Form 2 (FiLLiP) must be submitted to the Registrar of Companies to register an LLP. The entire process from form invocation to submission is 100% online. Below, we have briefly described the step-by-step process of LLP registration in India.
Step 1: Obtain her DSC and her DPIN for all Designated Partners The Designated Partner
LLP oversees the management of the business and is responsible for making important decisions beyond the day-to-day business. I have. Therefore, their role in the formation and establishment of LLPs is very important. Before enrolling for an LLP, you must ensure that all current Designated Partners have been assigned their Designated Partner Identification Number or DPIN. This is a unique number assigned to every individual who is or is a potential partner of record for an LLP and serves as a mark of their identity. To apply for a DPIN, an application can be submitted to the Corporate Affairs Department using the DIR 3 form.
Additionally, the founding form of an LLP, FiLLiP, is a web-based application and must be signed with a digital signature. For this purpose, all other partners of the LLP who have already received a Digital Signature Certificate or DSC may approve any of her two named partners. DSC is issued by a certification body accredited by the Ministry of Enterprise. Click here for more information on how to obtain DSC.
Step 2: Name Approval Application
LLP’s name must be chosen in accordance with the guidelines set forth in various laws, such as corporate law, trademark law and name law. You can read our blog where all these legal guidelines are explained in detail.
That is, under the Companies Act, the name of an LLP must be unique and must not be identical or similar to the name of any other of her LLPs or companies already incorporated. Furthermore, it must not contain language that the central government deems offensive or undesirable. The company incorporation regulations contain a list of such undesirable words and a list of words that can only be used with the approval of the central government. Under the
Trademark Act, we must ensure that the LLP’s name is not identical in whole or in part to a registered trademark. In this case, it can only be used with permission from the trademark owner. Since the
LLP name is a unique and unique creation, we recommend registering it as a trademark to prevent misuse or copying by others. The
Names and Emblems Act, the third and final act, prohibits the use of words in LLP names that imply governmental affiliation or endorsement. This is to prevent the general public from misleading the name and mistaking the privately held LLP for a government-owned enterprise. Words such as “nation”, “state”, “confederation” and “central” are examples of such words.
However, this is a story of the process after the name is decided. The selected LLP name must be reserved with the registrar at the central registration center where the RUN LLP application must be submitted. For each application he can propose two names, which will be confirmed by the registrar. Names that are considered valid are reserved for LLP use.
However, if both of the proposed names are found to be invalid, you will be given two opportunities to resubmit and two new names may be proposed on each resubmitted form. There is no need to pay a new application fee. If, even after using the two resubmission options, none of the proposed names proves valid, your application will eventually be rejected and you will have to submit a new application at the new application fee.
Step 3: Fill out & Submit the registration form
Once you are done with obtaining the DPIN and DSC, reserving the name, and drafting the LLP agreement, you are ready to file the application for LLP registration. The application can be publicly accessed on the official website of the Ministry of Corporate Affairs. The application seeks details like the names, addresses, and capital contributions of all partners, names and DPINs of all designated partners, the name and registered address of the LLP, and other related information.
Filling out the form could be slightly difficult for you as the application seeks many details that might be confusing. If that is the case, you need not worry! Simply contact our Startup advisors and they will guide you throughout the process of application filing. You can also take advantage of LLP enrollment services by subscribing to a comprehensive package at a reasonable price.
Once the application has been completed and all relevant documentation has been uploaded, the approved Partner of Record must sign the application using a digital signature certificate. The signed application can finally be submitted to the registrar for a prescribed application fee.
Step 4: Make a payment and keep your SRN
After you submit the form, you will automatically be redirected to the payment page. After payment, a challang will be generated with a Service Request Number (SRN). Keep the charan safe as you will need it for later reference. Once the form has been approved by the appropriate ministry representative, you will receive an email and the form’s status will change to Approved.
Step 5: Issuance of Certificate
Certificate of Incorporation approves the application. Finally, register the LLP. As conclusive evidence of such registration, he will issue you an online downloadable registration certificate in his LLP’s name and assign a unique his LLP identification number.
Step 6: Submit the LLP Agreement
As with any partnership company, an LLP is formed on terms mutually agreed upon by the partners. All of these terms are set out in the LLP contract, signed by all partners in the presence of a notary public. The LLP agreement must be filed with the Registrar of Companies within 30 days of the date of incorporation of the LLP.