Startup/New Business LLP Plan
1. Services Included:
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Filings with the Registrar of Companies (ROC).
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Issuing Director Identification Number (DIN).
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Issuing Digital Signature Certificate (DSC).
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Application for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
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Drafting of LLP Agreement.
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Drafting of Co-founders Agreement.
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Drafting of Non-Disclosure Agreement (NDA).
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Drafting of Transfer of Intellectual Property Agreement.
2. Process for Application of LLP with MCA:
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Obtain DSC and DIN:
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Every designated partner of the proposed LLP needs to obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN).
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Name Approval:
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File LLP Form-1 for reservation or change of name with the ROC. Ensure that the name is unique and not similar to any existing company or LLP.
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Incorporation of LLP:
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File LLP Form-2 (Incorporation document and Subscriber's statement) with the prescribed fees. This form will have details of the LLP agreement, partners, etc.
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Drafting of LLP Agreement:
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The LLP agreement governs the mutual rights and duties among partners and between the LLP and its partners. It needs to be filed with the ROC within 30 days of incorporation using LLP Form-3.
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Application for PAN and TAN:
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After incorporation, apply for PAN and TAN for the LLP through the respective forms.
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3. List of Documents Required:
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For DIN and DSC:
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Proof of Identity (PAN Card for Indian Nationals).
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Proof of Address (Passport, Election ID card, Ration card, Driving license, Electricity bill, Telephone bill).
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For Name Approval:
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Proposed LLP names (preferably more than one).
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For Incorporation:
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Proof of registered office of LLP.
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Subscriber's sheet signed by all partners.
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Details of partners and designated partners (Name, Address, Occupation, etc.).
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For LLP Agreement:
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Details about the contribution of each partner.
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Profit sharing ratio among partners.
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Rights and responsibilities of each partner.
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For PAN and TAN:
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Incorporation certificate of LLP.
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Address proof of LLP.
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ID proof of designated partners.
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4. Time Required:
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DSC and DIN: 1-2 days.
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Name Approval: 5-7 days.
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Incorporation of LLP: 10-15 days post name approval.
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Drafting and Filing of LLP Agreement: 15-20 days post incorporation.
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PAN and TAN: 7-10 days post filing for the same.
5. Receiving Incorporation Certificate:
Once all the forms are duly filled and submitted, and the ROC is satisfied with the provided information, the ROC will issue an Incorporation Certificate. This is proof of the registration and formation of the LLP. The time taken can vary but is usually received within 15-20 days post the submission of the incorporation form.