Requirements for LLP Registration

Requirements for LLP Registration
There are several requirements for LLP registration which needs to be fulfilled in order to successfully proceed ahead with the process. Few of such are as follows-

Having Clarity about business
First and foremost, the most basic and essential step is that, having a business idea in mind with clear vision of the product/services. What would the product/service do, how it would work. Does it need a registration as a business, how many people involved in the management, partnership and profit- sharing structure in the business.

Find few persons to partner with
Basic and necessary compliance of LLP is that there is need of two partners, having partners in a business can be beneficial in many ways like- having multiple areas of expertise, having some better decision making for the business entity, as a whole.

Apply for DSC
The above steps discussed about having the mindset or the necessities to even take a step for registration, and this is the first step towards registration is that to apply for DSC ( Digital Signature Certificate) , this can be issued by the authorities, like MCA and the DSC need to be submitted with signatures of all the partners, who wants to register themselves as an LLP.

Apply for DIN( Director Identification Number)
Following the application made for Digtial Singature Ceritificate, a DIN needs to be applied for each of the designated partners is a business, this is unique number to identify the point of contacts or the persons having authority, running, managing and owning the LLP.

Reserve a name for the LLP
Following the incorporation of the LLP, name for the LLP needs to be reserved. The name that , one wants to make the identity of their company, the name needs to be submitted digital in the form that is applicable. While making recommendations for the name there are certain guidelines that need to be taken care of, using of the name “Industries” in their LLP name, their minimum paid-up capital need to be atleast 1 crore.The name that is up for reservation of the LLP, will go through a basic examination that weather or not it is used by some other LLP or not.Hence, choosing a proper name and an identity to it is very essential. Also, the MCA has tools that check that if a name is used or not by anyother LLP.