What Are the Procedures for Formation of LLP in India
As a business aspirant, you must have a clear understanding of What are the procedures for formation of LLP in India. This will help you in making an informed decision on whether a LLP is the right structure for your business needs. You should also seek the advice of a professional in this matter to avoid any potential pitfalls.
The LLP formation process has been revamped via the Limited Liability Partnership (Second Amendment) Rules, 2022. This includes introducing a web-based LLP-RUN service for Reservation of Name and an application called Form FiLLiP for allotment of DPIN to Designated Partners who do not have DINs.
To start the LLP incorporation process, the following documents are required to be submitted to MCA:
1. DSC: The requisite Digital Signature Certificate must be obtained for all the designated partners of the proposed LLP. It should be procured from a government recognized certifying authority.
2. Address Proof: All the partners of the proposed LLP are required to submit proof of their current address. This could be in the form of a utility bill/bank statement or any other document that mentions the partner's name and address. Foreign nationals will have to submit a valid passport in this regard.
3. Objects: A clear definition of the objects of the proposed LLP is to be provided in this form. This must be approved by the Registrar Of Companies. Professionals like Chartered Accountants, Company Secretaries and Advocates will have to attach a copy of their in-principle approval from the respective regulatory authority along with this form.
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