Step 1: Digital Signature Certificate (DSC)
Before starting the process of registration, you must enrol for the DSC of the designated partners, of the proposed LLP. Applying for “DSc” is important because the registration process of LLP is done online and requires a digitally signed signature.
So, the LLP partners must get the DSC from government-approved certifying agencies.
Step 2: Application of DIN (Director Identification Number) and DPIN ( Designated Partner Identification Number)
After applying for DSC, the next step is to enroll for DPIN and DIN application, for the proposed partners of the LLP, within a timeframe of 5 to 7 working days. The application for allotment of DIN has to be made in Form DIR-3. You have to attach a scanned copy of your “Aadhaar and PAN card” to the form. The form needs to be signed by a Company Secretary, which is in full- time employment of the company or by the Managing Director, Director, or CEO of the existing company, in which the candidate shall be designated as a director.
Step 3: Name Approval and Reservation with ROC
“LLP-RUN” i.e. “Limited Liability Partnership-Reserve Unique Name” is required to register for the reservation of the proposed LLP’s name. This is further treated by the Central Registration Centre under Non-STP. But before circulating the name in the form, it is suggested that you use the free name search facility on the LegalRaasta portal. The system will provide you a list of similar names of the existing LLPs. “One to six” is the limit of proposed names, which are to be given to the MCA. The registrar will approve the name only if the name is not useless in the opinion of the Central Government and does not match any existing partnership firm or an LLP.
The Name approval process will take 5 to 7 working days. A re-submission of the form is made after 15 days, in the case of a rejection.
Step 4: MOA & AOA submission
Once the name is approved, one is required to draft a “Memorandum of association” and “Articles of Association”. Both MOA and AOA are to be registered with the MCA, within the agreement statement.
Step 5: Get Incorporation Certificate of LLP
The form used for incorporation is “FiLLiP” (Form for incorporation of Limited Liability Partnership), which must be registered with the Registrar, who has jurisdiction over the state, in which the registered office of the LLP is located. The form will be an integrated form. Incorporation documents can be presented to the MCA along with an application for incorporation. MCA will approve the application for incorporation within 5 to 7 days. “Incorporation certificate” is proof of the fact that the company has been formed. It also involves your CIN number.
Step 6: Appeal for PAN, TAN and Bank account
Then you are required to apply for both “PAN and TAN” and you will receive them in 7 working days. You can submit the Incorporation certificate, MOA, AOA and PAN with the bank, for opening your bank account.
Step 7: Register for LLP Agreement
An LLP agreement oversees the mutual rights and duties between the LLP and it’s partners. An LLP agreement must be registered in Form 3, which is to be filed in a span of 30 days after receiving the “Incorporation Certificate”.