- Preliminary requirements- all the Designated Partners of the proposed firm must have DPIN (Designated Partners’ Identification Number). All the partners of a proposed firm should have a digital signature to digitally sign the incorporation and other related documents.
- Reservation of name- An online application for reservation of a name shall be made through the official website of Ministry of Corporate Affairs by using RUN (Reserve Unique Name), which may either be approved or rejected, by the Registrar, Central Registration Centre (CRC).
Upon receipt of the application, after verification of all the criteria and guidelines prescribed sec and related rules.
Please consider the following point before registration of a name
- The name should not be resembling from existing company/LLP
- Name prohibited under the provisions of section 3 of the Emblems and Names (Prevention and Improper Use) Act, 1950
- Word and expression which required Government permission such as Board, commission, Authority and etc
3. Preparation of Limited Liability Partnership Deed
Drafting of LLP deed is generally a step subsequent to the reservation of name made by registrar, following details must be included in this deed
- Name and address of all the partners
- Name and Principle place of business of the firm
- Object and scope of work of the firm
- Details of Capital
- Profit and loss sharing of partners
- Remuneration of partners
- Right and duties of Partners
- The extent of liability of LLP
- Management and Meetings of LLP
- Admission of a new partner
- Cessation of existing partner
- Miscellaneous provisions
4.Filling of the documents with Registrar of Companies (ROC)-An application shall be filed, with the Registrar of Companies within whose jurisdiction the registered office of the company is proposed situated.