LLP Name Change
LLP Name change can be made subject to availability of new name and reservation thereof. Any change in LLP name need approval of registrar through e-filing of proper forms on MCA Portal.
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Once a LLP (Limited liability partnership) is incorporated before the MCA (Ministry of Corporate Affairs) it enjoys a unique name followed by LLPIN (Limited Liability Partnership Identification Number). LLP incorporated is always going concern, it means it continue to carry on the business as mentioned in the objectives of the LLP indefinitely. Thus, at later stage there is always an option available for change the name of the LLP. Changing the name of the LLP will not affect the legal status of the company and its activity remain continue as earlier, any legal proceeding initiated in old LLP name will continue without impacting the status of LLP or in its name. The age of LLP will remain to consider from the date of its first incorporation without impacting LLP name change. Although the decision for changing the name of the LLP is completely rest in the hands of management / partners, some of the reasons which attract the decision for change in the name of the LLP are:
- Change in the objectives of the LLP
- Change in the management or Partners of the LLP
- Change in the place of location of business (if name include any word specifying place)
- Branding / Rebranding of the products of the LLP
- Scaling up of LLP from domestic level to multi-national level (MNC)
- Any other reason as considered by the management / partners
Any LLP Name change require registration of new name subject to availability of such name. This name search facility is available for public on the MCA portal.
Procedure for name change of the LLP
- A resolution must be passed in a properly convened meeting of partners regarding name change and to authorize any partner of the LLP to seek name availability on MCA portal and to apply for the same.
- Application shall be Registrar through MCA Portal for name reservation along with supporting documents such as Resolution passed in meeting of partners for name change.
- Once the name is approved by Registrar, the LLP must convene a proper meeting of members and passed resolution for accepting the new name and to execute a supplementary LLP Agreement mentioning name change along-with authorizing any partner to file necessary forms before the registrar on MCA Portal
- The authorized partner need to file necessary forms such as Form-5 along with duly passed resolution and supplementary agreement mentioning name change.
- After verifying all the particulars filed by the LLP, the registrar shall issue fresh certificate of incorporation indicating new name of the LLP.
- LLP may proceed for name change in Income tax department / banks / GST or any other relevant regulatory authority based upon freshly issued certificate of incorporation of name change.
With the ever changing Law and regulatory requirements, we keep on track and advise the same on timely manner in order to ensure proper compliance. We at ReturnFilings.Com will understand the purpose of your LLP name change and thereafter will provide you detailed analysis mentioning the law requirement and compliances need to fulfil in order to provide LLP name change related services economically and efficiently. We at ReturnFilings.Com will provide you details of regulatory filings in order to ensure proper smooth and timely compliances. We at ReturnFilings.Com are determinate to provide end to end solution; our motto is you concentrate on your business while we at ReturnFilings.Com will take care of all your compliances need relating to LLP name change.