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PLANNING AND SETTING UP LIMITED LIABILITY PARTNERSHIP
WHAT IS LIMITED LIABILITY PARTNERSHIP (LLP)?
A Limited Liability Partnership is governed by the Limited Liability Partnership Act, 2008, which provides limited liability protection to its partners with the minimum maintenance with respect to the Compliances. It is a hybrid of partnership firm and a Company.
It is ideal for small businesses.
Sl No. |
Steps |
Description |
|---|---|---|
1 |
Digital Signature Certificate |
Obtaining the Digital Signature Certificate for proposed partners |
2 |
Director Identification Number (DIN) |
The DIN will be obtained along with the incorporation of the LLP. |
3 |
Name Approval |
File a Name Approval form and it takes 2 to 3 working days to get approval. |
4 |
Final Incorporation Form |
After Name approval, the filing of
incorporation forms will be done along with all supporting documents like registering address proof, Declarations from partners. LLP can be incorporated online by filling the LLP Form 2. |
5 |
Filing of LLP Agreement |
The LLP agreement needs to be drafted
and filed on Ministry of Corporate Affairs Portal in LLP Form 3 within 30 days of incorporation. The LLP Agreement has to be printed on Stamp Paper. The value of Stamp Paper is different for every state. |
Minimum 2 Partners |
PAN of Partners |
Address Proof (Aadhar Card/Voter Id/Driving License/ Passport)of Partners |
Residence Proof ( Bank Statement/ Electricity Bill/Mobile Bill/Telephone Bill) of Partners |
