A Complete Step by Step Guide on LLP Registration
The Government of India announced a notice for the New LLP Registration on 18th September 2018. The changes for the LLP Registration process come into force on 2nd October 2018. The Government made amendments to the rapid incorporation of Limited Liability Partnership (LLP) Registration. Some new forms like FiLLiP were introduced under the amendment, which brought a sense of relief to the businesses that wanted to start their LLP ventures. During the practical changes, Direction Identification Number (DIN) was also made mandatory for the registration process.
LLP Registration – What Are the Amendments?
- Name reservation: The Reserve Unique Name (RUN) process changed the previous method of LLP Form 1. Before this change, the applicants have to fill a form 1 for the name reservation and modifications required for the title. Currently, name reservations are reserved with RUN-LLP process.
- Incorporation of LLP: The new FiLLiP form now replaces the previous LLP form 2 for incorporation application. Earlier, it wasn’t easy to process LLP Incorporation, but with FiLlip, it’s now a trouble-free process. FiLLiP stands for Form for incorporation of Limited Liability Partnership is an incorporated form providing multiple services.
- The DIN application is incorporated with the LLP Incorporation application.
- The partners have two options; either they can go with LLP-RUN or in the FiLLiP integrated Form until their Form gets concerned.
- Other forms: Negligible changes must be made to the name reserved, and PAN Card are done to other structures including Addendum to Form 2, Form 5 (notice for name change), Form 17 (Application form to change the company status from firm to LLP), and Form 18 (Application status to change from Private Limited Company to LLP).
- Authority processing the registration forms: Previously, all the LLP registrations were processed by the respective state RoC. Now, Central Registration Centre (CRC) will handle the forms for LLP Registration of the individual state.
Process of LLP Registration
- Obtain Digital Signature Certificates (DSC): Before you initiate the LLP registration, you must apply for DSC. DSC helps in filing all the documents online which require a digital signature. People now have two choices for reserving names through RUN-LLP and FiLLiP.
- Name Reservation under LLP-RUN: The aspirants can fill the application with two alternate names. It is followed by check for the name availability and whether any other LLP or company is previously registered with the same name or not.
- Fill FiLLiP form: The application form of LLP Registration is incorporated, and the application of name reservation and DIN allotment is integrated.
- If the designated partners do not hold DPIN or DIN, then allotment of DPIN application is made for a maximum of 2 persons under this incorporated Form.
- The application for the name reservation can be selected with RUN-LLP Form, or FiLLiP integrated Form.
- The statement of the subscribers is also filed.
In case, if the registrar finds any defects or wants more information, then they can ask aspirant to re-submit the registration form within 15 days. The applicant receives two chances to meet the requirements, and the total period shouldn’t exceed more than 30 days.
However, if the registrar accepts the application, then RoC will issue the Certificate of Incorporation in form 16. The application for PAN and TAN allotment is mandatory to be prepared by the aspirant.
In Form 3 – File LLP Agreement: On the CoI receipt, the designated partners execute the LLP Agreement to arrange the partnership terms and business necessities of LLP. The stamp duty charges are paid as set down by the respective State Government. This agreement (Form 3) must be filed (e-filing) within 30 days of incorporation.
For further processing, the name reservation and incorporation application are conveyed under CRC.
Where Can I Get the Support for the LLP Registration Process in India?
You can get in touch with us for assistance for registering LLP. We are ready to answer all your questions related to business management and accounting in India. From our experienced staff, you will get full assistance to register your business and complete all the legal formalities effortlessly to start your LLP swiftly.