Limited Liability Partnership

Characteristic features of the LLP

• The liability will be evenly spread out to the partners regards to the volume. There is no restriction in the number of the partners. Initially while incorporation it is required to be at least two partners.
• Notably, in the beginning of the LLP, there is no need of the LLP agreement.
• Agreement should be filed with the registrar within thirty days of incorporation.
• LLP has the capability to enter into the contracts and holding properties or assets by its own since it has a separate legal entity.
• Perpetual succession helps during insolvency of the partners in a company.
• Nominated person or the successor can be a new partner to retain the LLP. Irrespective of changes, the LLP continue to its existence.
• The rights and liabilities would not change even the change in the partners.

Very significant feature is if any one of the partners misbehaviour or misconduct or an unauthorised act would not affect the other partner in any way.

Steps for company registration Procedure

STEP1 :

Obtain Director Identification Number:

First and foremost thing is to get a DIN for both the existing and a intended directors.

STEP2 :

Digital Signature Certificate:

To ensure the documents to be secured and get authenticity, one should get a digital signature certificate. Encryption and decryption of information will secure our documents and information. To submit and securing a documents electronically, the digital signature is important.

STEP3 :

Company name should be reserved with the help of ROC (Registrar Of Companies).

STEP4 :

After got the name approval, it’s mandatory to examine about the memorandum and articles of association.

STEP5 :

Obtain the certificate of incorporation.To incorporate a company, following documents are required they are as follows:

Required documents to be noted:

• Obtain a Tax Account Number (TAN) card.
• Permanent Account Number (PAN) need to be submitted.
• Articles of Association.
• Copy of letter from the register which indicates the approval of name.
• Power of attorney which says the consent of a person to act as a director.
• Registered office location and the particular details of the directors should be mentioned in a file and that should be either produced during the time of incorporation or else thirty days from the date of incorporation.

STEP6 :

Proof of identity along with address proof should be submitted and all the details about the director, members should be submitted as a document.

STEP7 :

Payment of fees:

After submitting all the documents the payment has to be made.

STEP8 :

Issuing of certificate:

Certificate of incorporation will be provided by the ROC after the crucial examination.