Registration steps for LLP

Following are the steps for registration:-

a) Obtaining Digital Signature Certificate(DSC):-

Before the beginning of the process, a digital certificate with signature of all the persons who want to be a partner to the business needs to be submitted. This is because all the details of the application are to be submitted digitally for the registration.

b) Apply for Director Identification Number(DIN):-

After the submission of the DSC, the Limited Liability Partnership must apply for DIN, this would contain all the identity details of those who want to be partner in the LLP. The DIN is a unique number to all the patterns who are involved in running of the business . It acts like a special ID for those who are going to be in-charge of running a business, and also helps to keep a track of persons running a business, and also makes sure that the partners are organized.

c) Approval of LLP Name:-

After applying for DIN, the applicant must reserve a unique name for the identity of the business which has not been registered, in the Ministry of Corporate Affaairs(MCA) website. After the applicant reserves a unique name, the name of the business would be registered in MCA.

d) Incorporation of LLP:-

After getting the name approved in the MCA, the Limited Liability Partnership incorporation form needs to be filled by the partners through the MCA portal. While filling in this form, the required documents must be submitted and the form has to be filled with the fee along with stamp duty as mentioned in the portal, the LLP fee depends upon the contribution that is made by each partner.

e) Incorporation of Application:-

After successful registration of LLP, the Registrar of Companies(ROC) issues an inspiration certificate , the certificate contains the LLP Incorporation Number (LLPIN), the Registrar has jurisdiction over the place where the office of the company has been registered.

f) LLP Agreement:-

After following all the above steps, an LLP Agreement needs to be submitted on a stamp paper. LLP Agreement contains all the rights, duties as well as the liability shares, contribution as well as relationship of the partners to the business. It also contains the terms and conditions, and the way the business would carry on upon change in the partners, or their shareholdings. The LLP Agreement needs to be submitted with a fee and the fee structure varies depending upon the contribution of the partners in the business.