Starting from 2023, with the upgradation of MCA website to V3, LLP incorporation process has undergone changes keeping it in line with the Company Registration.
At first we need to understand why to incorporate an LLP and why not a Company
A LLP has lot of advantages over a company such as minimal compliances, no mandatory audit upto turnover of Forty Lakh Rupees, Minimal ROC filings [two returns per year] etc., Therefore there is flexibility of a partnership and a corporate style identity for the business. Below are the steps for incorporating an LLP and documentation required therewith.
- Name Reservation using RUN Form – Name can be applied along with filing of Fillip form in one go, however applying for name first and getting it approved have it own advantage.
- Once name is approved, the next most important documentation where client miss out is on registered office address, ensure the below documents are available for submission.
a. Commercial Rent Agreement
b. No-Objection-Certificate from Owner
c. Utility bill in the name of owner, for the premises taken on rent
d. In case of co-working spaces, original lease document along with NOC of original Owner is also required
e. In case the land-lord is a company, then Board Resolution of the Company, authorising the person signing on behalf of the company should also be shared. - Documentation of Partners [Self Attested copies]
a. PAN Card
b. Latest Bank Statement or Utility Bill (not older than 1 month) for Address Proof
c. Passport if available
d. Aadhaar
e. Eligibility and Consent Declaration of Partners
f. Subscriber sheet with witness signature of any CA/CS/Advocate professional
g. Class III DSC for Partners - Once Fillip form is approved, within 30 days from the date of approval Form-3 must be filed along with copy of LLP Agreement signed by the partners.
The information shared above is for knowledge purpose only based on the experience in incorporation of LLPs. In case of any further query or assistance, you can reach out to us at elangovan@enaca.in
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