Limited Liability Partnership (LLP) has been introduced in India by way of Limited Liability Partnership Act, 2008. An LLP combines the benefits of limited liability of a company while allowing its members the flexibility of organizing their internal structure as a partnership. In case of LLPs, one partner is not responsible or liable for another partner's misconduct or negligence. LLPs also have fewer compliance requirements as compared to a company.
1. Obtaining DSC & DIN/DPIN: The proposed partners of the LLP require Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN). In case DIN (Director Identification Number) is already available, the same can be used as a DPIN. This step would take around 5-7 working days. 2. Approval of Name and Incorporation: The next step is applying to the MCA for reserving the name of the LLP. Subject to availability, the name will be approved. Post this, required incorporation form needs to be filed with MCA. Once this has been approved, the Certificate of Incorporation will be issued. 3. Post Incorporation: After incorporation, an LLP agreement (between the partners) is to be filed within 30 days of incorporation of LLP. Every LLP also needs a PAN and TAN number, the application for which would be made online.
1. To be submitted by the partners: a. Scanned copy of PAN Card/ Voter's ID/ Passport/ Driver's License. b. Scanned copy of Utility bills - Latest Bank Statement/ Telephone or Mobile Bill/ Electricity or Gas Bill c. Passport size photograph d. Specimen signature (blank document with signature). 2. For the registered office: a. Scanned copy of Latest Bank Statement/ Telephone or Mobile Bill/ Electricity or Gas Bill. b. Scanned copy of Notarised Rental Agreement. c. Scanned copy of No-objection Certificate from property owner. d. Scanned copy of Sale Deed/ Property Deed in English (in case of owned property).