All About LLP - Limited Liability Partnership
To say Good Bye to traditional partnership Firm registration government has notified LLP - Limited Liability Partnership Act, 2008. One of the structured way to register a firm in India is LLP.
In order to helps owners also to limit their liabilities LLP registration is most preferable way to register a entity. LLP registration is one of the easiest and transparent process which has following minimum requirement.
Minimum Requirement of LLP Registration:
-Minimum Two Partners
-Minimum Contribution Requirement
-Profit and Loss Sharing Ratio
-Agreement Between Partners
Documents Required for LLP Registration:
1. Documents from Directors and Shareholders
A. Identity Proof:
1) Permanent Account Number (PAN) Card
2) Aadhaar Card / Passport / Driving License / Voter Identity Card
B. Address Proof:(Any One)
1) Telephone Bill / Mobile Bill
2) Electricity Bill / Water Bill
3) Bank Statement /Bank Passbook with latest transaction (Any one of the Document not older than 2 months)
C. Personal Details
1) Email ID
2) Mobile No
3) Educational Qualification
4) Place of Birth
5) Recent Photograph (Color Copy)
2. Registered Office – Address
1) No-Objection letter from the Owner of Address to use the address of the registered office of the Company.
2) Address Proof – In the name of the Owner
Electricity Bill, Telephone Bill (Fixed Line Only), Gas Bill or Water Bill (Not older than 2 months);- To be signed by the of the Owner of Premises
OR
Tax Paid Receipt or Copy of Registered Sale Deed- To be signed by the Shared Office Service provider.
Steps to Register a LLP?
Step 1: Name Approval and its Reservation:
RUN (Reserve Unique Name) form is filled for the reservation of the name along with Object of the LLP. The name provided must be as per the rule 8.
Step 2: Obtain DSC (Digital Signature Certificate):
It is required to obtain Digital Signature Certificates of all Partners to sign the Incorporation forms.
Step 3: Filing of Documents with Ministry:
Once Name approved by CRC team, Incorporation form need to be submitted along with documents like, Form-9, Subscription Sheet, Registered office Proof, PAN and KYC of Partners. Upon verification certificate of registration will be issued.
Step 4: LLP Agreement
LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners. The partners enter into the LLP agreement upon the LLP registration by filing form 3 online on the MCA portal. This procedure has to be done within 30 days of the date of incorporation.
Step 5: Apply For PAN & TAN & Bank Account
As soon as you get the incorporation certificate, you need to apply for your company PAN & TAN with the NSDL. The cost for this procedure is less than Rs.200 and it takes around three weeks to get done.
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