Further, for incorporating an LLP, of the total number of partners, at least two shall be Designated Partners, of which at least one must be an Indian Resident.
At least 2 persons (natural or artificial) are required to form a LLP. Body Corporates are allowed to be partners through their nominee (natural persons). Companies (incorporated in and outside India), LLP’s (incorporated in & outside India) and individuals (resident in & outside India) can be members of an LLP.
Note: A person “Resident in India” as a person who has stayed in India for a period of not less than 182 days during the immediately preceding one year.
- An LLP can be registered online through the website of the Ministry of Corporate Affairs. You will have to be registered first on this site.
- The next step is to obtain a Designated Partner Identification Number (DPIN) and Digital Signature Certificate (DSC). You may apply for the DPIN online. Even a Director Identification Number (DIN), if you have one, can be used.
- E-form1: Decide the name for the proposed LLP. You need to evaluate the proposed name under the prescribed parameters before you make an application. You may also check to see if your name is already in use, online.
- E-form 2: This is an informative document setting down the details of the LLP and its Partners including designated partners along with their amount of contribution and consent along with declaration stating that all other requirements in accordance with the Act.
Subscription Sheet: The partners are required to subscribe their names along with signatures to the subscription sheet and provide their consent to become a partner/ designated partner/ nominee/ nominee & designated partner which shall be witnessed by any chartered Accountant/Company Secretary/Advocate in practice.You will receive an email regarding the success of the incorporation once the process has been completed from the Ministry’s end.
E-form 3: Details of the LLP Agreement: This form provides for the necessary information in respect to the LLP Agreement entered into between the partners and requires to be filed within thirty (30) days of the incorporation of the LLP.
Note: All the e-forms require to be digitally signed by any Designated Partner and shall be certified by an advocate/company secretary/chartered accountant/cost accountant in practice engaged in the formation of LLP.