Six Steps to be consider while incorporating LLP.
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The registration of LLP has been made compulsory under the Act. A LLP has to register itself with the Registrar of Companies (“ROC”). Following are the main steps while incorporating a LLP:
1. LLP requires at least 2 Designated Partners (“DP”) to get itself registered. Said designated partners should be individuals and at least one of them should be resident of India. If all the partners of LLP are the body corporate then they must put forward their individual nominees who agree to act as DP and at least one of the nominees who agree to act as DP and at least one of the nominees should be resident of India. Such designated partners has to apply for “Designated Partners Identification Number”(DPIN)
2. Apply and register for digital Signature Certificate (“DSC”)
3. New user should register themselves at http://llp.gov.in, so as to avail any paid service on LLP portal and file the forms electronically.
4. Use Form 1 to apply for name,( reserve or changes)
5. Use Form 2 for incorporation of LLP
Once the LLP is registered, file LLP agreement within 30 days of incorporation. The LLP agreement is a written document that determines the mutual duties and rights of the partners with LLP or among partners
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