Change
LLP Name
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What is LLP Name Change?
All you need to know
During the course of business, LLP may required to change name to depict the new activities adopted by LLP or to reflect the new brand developed in the market. In both the cases, LLP can change name subject to provision of LLP regulations and LLP Agreement.
Any LLP which is legally registered as per the Limited Liability Partnership Act, 2008 is allowed to change its name at any given time during its working after gaining approval from the appropriate authorities higher up.
Reasons for LLP name change:
- Mergers and amalgamation
- Shift in business activity
- New brand development
LLP Name Availability:
Before commencing the change name process, decide a name and verify the name availability. If the name is available, then an application for Reservation of Unique Name can be made on the MCA portal to reserve the name for a period of 3 months.
Following sections of LLP Act 2008, deals with the change of name:
Directions received from the C.G. (Central Government) (Section 17 of LLP Act, 2008)
- Section 17 of the LLP Act suggests that where the Central Government is satisfied that an LLP has been registered under a name which is identical with or too nearly resembles the name of any other LLP or body corporate or other name as to be likely to be mistaken for it, the Central Government may direct to change its name.
- In such case the LLP shall comply with the direction within 3 months after the date of the notification or such longer period as the Central Government may allow.
- Any LLP which fails to comply with a direction shall be punishable with fine which shall not be less than Rs. 10,000 but which may extend to Rs. 5 Lacs.
- Further, the designated partner of such LLP shall be punishable with fine which shall not be less than Rs. 10,000 but which may extend to Rs. 1 Lac.
Suo moto basis (Section 19 of LLP Act, 2008)
- The process related to the change in name of LLP is covered under Section 19 of the LLP Act, 2008 and the LLP agreement filed with the MCA.
- Hence, before starting the process for changing the LLP name, one should verify the LLP agreement to ensure whether or not some process related to alteration of the name is present.
- Most of the LLP agreements will not have any restriction on changing the name of an LLP.
- However, consent from all partners is mandatory to change the name of LLP.
For any reason, if you wish to change your LLP name, there’s a defined procedure to be followed. In case any of the procedure is not followed, Name Change cannot be given effect to, by ROC.
Why ThinkBiz Filings as your service provider for “LLP name Change”?
ThinkBiz Filings is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad.
Changing name of LLP is easy, seamless, cheaper and quickest with ThinkBiz Filings ! Apart from LLP name change, ThinkBiz Filings also helps entrepreneurs with LLP registration, One Person Company Registration, Partnership Registration, HUF and Proprietorship Firm Registration easily.
You may get in touch with our compliance manager on 09704561215 or email info@Thinkbizfiling.com for for free consultation.
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ESSENTIAL
- Document preparation
- 1 Name Approval application with ministry under LLP RUN
- Revised Certificate of Incorporation with new name
- Revision of LLP Agreement
- Filing of New LLP Agreement with ministry
- Modification in PAN and TAN Card
Compliance Requirements for a Partnership Firm
Documents Required for Partnership Firms
Compliance Requirements for a Partnership Firm
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- Yes, an LLP can change its name after incorporation by following the legal procedure prescribed under the LLP Act, 2008
- Some common reasons include: ✅ Rebranding or business expansion ✅ Legal issues with an existing name ✅ Name similarity with another entity ✅ Change in business activities
- Yes, the new name must be approved by the Ministry of Corporate Affairs (MCA) before filing for a name change.
- 📌 The process involves: 1️⃣ Check name availability on the MCA portal 2️⃣ Pass a resolution among partners for the name change 3️⃣ File Form RUN-LLP to reserve the new name 4️⃣ File Form LLP-5 with MCA along with required documents 5️⃣ Receive approval and new Certificate of Incorporation 5️⃣ Which forms are required for an LLP name change? 📌 Form RUN-LLP – For reserving a new LLP name 📌 Form LLP-5 – For official name change filing
- The following documents are needed: ✅ Resolution passed by the LLP ✅ Consent of all designated partners ✅ New LLP name approval from MCA ✅ Amended LLP Agreement
- Yes, after the name change, the LLP Agreement must be updated and filed with Form LLP-3.
- Minimum two directors are required to incorporate a private limited company. Companies Act, 2013, has introduced the concept of One Person Company (OPC) private limited, in which a single individual can start a private limited company. Thus, if you plan to incorporate OPC, you can incorporate it with only one director.
- The entire process typically takes 10-15 working days, depending on MCA processing time.
- 📌 Yes, after receiving the new incorporation certificate, update the new name with: ✅ Banks and financial institutions ✅ GST, Income Tax, and other government registrations ✅ Vendors, clients, and business partners
- 📌 No, the LLPIN remains the same, only the name is updated. 1️⃣1️⃣ Is stamp duty applicable for an LLP name change? 📌 Stamp duty may apply for modifying the LLP Agreement, depending on the state rules.
- Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@thinkbizfiling.com or call us @+91 970 456 1215
