LLP Company Registration
Limited liability partnership firms are very common now a days to easily start their business in the local location in any of the city like Kochi in India. There are some common rules and regulations have to be followed by the business person before doing LLP company registration in Kochi. Being a business service consultant in Kochi. It is important to learn about the basic things involved in such company registration.
In this discussion we need to know about:
- Partners and their contribution
- Designated partners
- LLP name
- LLP agreement
- Registered office
Partner And Contribution
For your LLP company registration, there must be of 2 partners minimum and those partners in case acts as any other person in the corporate body then a nominee has to be selected as a part of the registration process. A partner in LLP can be a person who is in a company which is incorporated in or outside India.
Telling about the share capital by the partners in the business is not required but an agreement is essential between the partners in the company. The partner’s contribution towards LLP can be tangible form like the combination of promises, cash or property, contract etc.
In the case of intangible form of partner’s contributions, the value of the same will be certified by a Chartered Accountant (CA) or Cost Accountant or by Central Government.The monetary value of contribution of partner’s is accounted for and disclosed in the accounts of the limited liability partnership (LLP).
Designated Partners
These are the partners in the company which is mentioned legally in the LLP agreement with the name “Designated partners” even in the company incorporation documents. The number of designated partners should be 2. There are certain rules and regulations for the designated partners is mentioned as follows:
- Designated partners are responsible for the doing of all acts, matters and things as are required by the limited liability partnership (LLP) in respect of compliance of this Act including filing of any document and the return statement to the provisions of this Act and is specified in the LLP agreement
- They have penalties in limited liability partnership if any contravention of those provisions occurs
Director Identification Number
For LLP company registration Cochin the use of DIN is an important unique identification to follow from the central government. If the designated partner already have the DIN then the same can be used for the formation
Digital Signature Certificate
It is the form of signing any documents electronically is the digital signature. For LLP company incorporation few e forms 1 to 3 cannot be signed manually, it is then performed with the use of digital signature certificate (DSC)
The Digital Signature Certificate when obtained once is useful for filing various forms which are required to be filed during the existence of the LLP with the Registrar.
LLP Agreement
It is the agreement signing between the LLP and the partners laying a foundation for the LLP registration Cochin including the below details in it:
- Name of LLP
- Name of Partners & Designated Partners
- Form of contribution
- Profit Sharing ratio
- Rights & Duties of Partners
LLP incorporation Procedure
- Deciding the Partners and Designated Partners
- Obtaining DPIN No. & Digital Signature
- Checking the Name Availability
- Drafting of LLP Agreement
- Filing of Incorporation Documents
- Certificate of Incorporation
If you have any plan to do LLP company registration in Bangalore, please contact here.