The full form of DSC is the Digital Signature Certificate. It is a thing that all the partners of an LLP firm must obtain before registering. As all the forms will be filled and submitted during the registration process digitally, obtaining DSC becomes a must. That is why the entire process of the LLP registration begins with the issuing of the DSC of all the designated partners.

The full form of DIN is Directors Identification Number. It is a unique number of identification for each of the directors of a firm registered with MCA. Moreover, without a DIN, nobody can obtain the post of a designated partner or director of a firm. Therefore, the primary duty of all the directors of a firm is to obtain DIN before the registration of the firm as LLP.

In an LLP firm, the partners bind themselves through their mutual consents on the rights and responsibilities of the firm, capital investment ratio and profit-sharing ratio, etc. The partners then come up with a legal document explaining all of these which is known as an LLP agreement. After incorporation of the company as LLP, the firm has to submit a similar copy to the registrar, and if the firm fails to do that within 30 days of the registration, a charge of Rs. 100/- will be levied on the firm with each day of the delay.

During the time of the formation and registration of an LLP, there has to be a location designated as the address of the operation of the business for the newly formed and registered firm. The following are the accepted documents as the address from of the office where the LLP will function and these documents should not be more than 2 months old:

• Gas Bill
• Mobile Bill
• Telephone Bill
• Electricity Bill
• Water Bill
• NOC of the owner of the premise

While registering a partnership firm under the Limited Liability Partnership Act, 2008, the following documents have to be submitted by the partners as identity proof:

• Driving Licence
• Passport
• Voter ID Card

The forms that the partners of an LLP firm have to sign for LLP information in India have to be done in an A-4 size paper in which the form will be printed and the signature of the partners should preferably be done with a blue ink pen. Here are the forms that the partners will have to sign:

• Consent of all the partners for the incorporation of the LLP
• Subscriber sheet for Registration of LLP

The term “limited Liability” defines that the partners of the LLP firm are not personally liable to pay debts of the firm. Their sole obligation is the share of the capital in the LLP firm.

Here are some of the characteristics of an LLP firm apart from the limited liability part which is explained above:

• Irrespective of the partners leaving or joining the firm, an LLP will continue its functioning.
• An LLP firm might get sued or can sue under its name.
• An LLP is a legal entity and it is absolutely separate from its partners.
• An LLP can also enjoy selling, owning, and transferring the rights of the properties to anyone under its name just like a partner

Under Section 2(e) of the LLP Act, the definition of the word business has been provided which tells that a business includes profession, service, trade, and occupation. This definition does not include industries like manufacturing and production. Therefore, you should avoid pursuing businesses that do not come in the area of manufacture or production if your business model is based on the concept of an LLP.

To occupy any location as the registered address of an LLP, the firm has to obtain a NOC from the owner of the premises in which the registered office will be located. The submission of NOC at the time of registration of the LLP along with proof of ownership from the NOC provider has to be submitted. Without this, registration is not possible.