What are the procedures for formation of LLP in India

What are the procedures for formation of LLP in India


The Ministry of Corporate Affairs (MCA) vide its Notification dated 18th September, 2022 revamped the whole procedure for incorporation of an LLP. This process includes the introduction of a new web form called RUN-LLP which is similar to the RUN service already deployed for company registration and an application e-form named FiLLiP that is used for filing the LLP incorporation application.

The first step under this new procedure is to apply for the reservation of a name by using the web portal LLP-RUN. One can apply for a maximum of six names at one go. The Ministry of Corporate Affairs checks these names and verifies that they are not identical or similar to an existing LLP or registered trademark.

After the name is approved, the registrar reserves it for 90 days, within this time frame, an applicant can file the e-form FiLLiP for LLP incorporation. If the LLP registration form is not filed within this period, the reserved name will get automatically withdrawn by the Ministry of Corporate Affairs.

The next step involves obtaining a Digital Signature Certificate (DSC) for all the Designated Partners of the proposed LLP. This can be obtained by logging on to the official MCA portal and submitting an online form. It is mandatory to have a DSC for signing any documents or forms submitted to the MCA. Also, it is mandatory to have a DSC for the person who wants to be a designated partner or director of the proposed LLP.

 

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