Limited Liability Partnership (LLP) Registration

Ideal business structure for Small and Medium-sized
Enterprises going for Partnership

Starting At Rs. 6,999 Onwards

(Takes 15-30 days)

LLP Registration Online

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How To Register An LLP Company Online

You can operate your business under a “Limited Liability Partnership” in India online. We hold immense knowledge and expertise in LLP registration and will help you in the following ways.

Complete our LLP Form

You need to fill our simple LLP online questionnaire and submit LLP documents.

 

Obtain DSC and DPIN for LLP

After submitting your documents we will provide you with DSC and DPIN

 

LLP Verification & Name Approval

Details provided by you will be verified & then we shall apply for LLP name approval.

2 Working Days >

LLP Document Submission

We will create all the required documents (MOA & AOA) and file them with ROC for your LLP.

3 Working Days >

Your work is completed

Once your LLP is incorporated, we shall send you an “LLP certificate” and DSCs

Congratulations >

Limited Liability Partnership (LLP)

LLP was started in India under the “Limited Liability Partnership Act, 2008” which states that partners are not liable for other’s misconduct. LLP is preferred by “experts, Micro and Small businesses” that are family-owned or are closely-held.

Limited Liability partnership provides the advantage of limited liability to its proprietors and at the same time needs essential care. The proprietors of a private limited company have limited responsibility to creditors. In case of failure, banks/creditors can just sell the organization’s assets and not the individual assets of directors

Accordingly, all partners in an LLP enjoy a type of “limited liability”, which acts as a protection for them, within the partnership.
LLP Registration is done by “LegalRaahi” which is situated in “Delhi NCR, Bengaluru, Mumbai, Chennai, and all other Indian cities.”

Choose LLP because

  • Double benefits- Company and a Partnership
  • Limits the liabilities of its partners
  • No partner will be liable for other partner’s misbehave
  • Cheaper to incorporate than a private limited company

Documents Required For LLP Registration

  • Copy of PAN Card of partners
  • Passport size photograph of partners
  • Copy of Aadhaar Card/ Voter identity card/ Driver’s license as address proof
  • Electricity/ Water bill/ Telphone bill/ Latest bank statement as proof of Registered Office (Business Place)
  • Copy of Sale Deed/Property Deed (If owned property)
  • Landlord NOC (Format will be provided)
  • Passport (in case of Foreign Nationals/ NRIs)
  • Digital Signature Certificate
  • Copy of Notarised Rental Agreement
  • Copy of NOC from the property owner

Factors to Consider While Selecting an LLP Name

The Registrar of Companies (RoC) has issued specifying rules for LLPs. You should meet the standards or your application may wind up getting dismissed, prompting a much longer procedure.

Meaningful

The name of your LLP Company should be connected to your business. It must suit the organization’s marking. For instance, Lilliput implies small, as “Lilliput” is a kid’s clothing brand.

Short & Simple

The name of an LLP must be short and not excessively long. It must be easy to pronounce by other people. And it should get inked in the minds of people when they hear it the first time itself.

Unique Component

The name of your company should not either be identical or the same as a current company, business, or trademark. You can go to “search.LegalRaahi.com” to confirm if your company’s name is similar or identical to others. You should stay away from plural variants e.g., “Amazons” or changing simply the letter Case, adding spacing, or punctuation marks in an already existing company’s name.

Blacklist

Abstracts, adjectives, and generic words are denied. So a name like “XYZ” will be rejected on the spot. The following words “bank, exchange, and stock exchange” will also be denied.

No same Trademarks

There should not be a certified trademark by the identical name on the “IP India” website. If there exists one, then also your chosen company name can be approved if you are able to obtain a “NOC” from its owner, which will authorize you to use the name.

Suffix

The name of your LLP Company must finish with the suffix “LLP” is an instance of a limited liability partnership

Descriptive Name

The chosen name should be descriptive, meaning that the name itself should be able to tell about a number of traits of the LLP.

Should not be illegal or offensive

While getting an LLP name to ensure that you don’t conflict against the law. It should not be abusive or against the traditions and convictions of any religion and should not harm anyone’s respect.

Steps to form an LLP

Step 1: Digital Signature Certificate (DSC)

Prior to beginning the procedure of enlistment, you should Register for the DSC for the assigned partners of the proposed LLP. Applying for DSC is necessary because the procedure for registering an LLP is done online and requires to be digitally signed.

In this way, the partners in an LLP must get the DSC from government-affirmed confirming offices.

Step 2: Application of DIN (Director Identification Number) and DPIN (Designated Partner Identification Number)

Subsequent to applying for DSC, the next stage is to enlist for DPIN and DIN for the proposed Partners of the LLP, within a time period of 5 to 7 days. The application for the allocation of DIN must be made in Form DIR-3. You need to attach a scanned copy of the Aadhaar card and PAN card to the form. The form should be marked by a Company Secretary who is in full-time employment with the company or by the “Managing Director, Directors, or CEO” of the existing company, in which the candidate shall be designated as a director.

Step 3: Name Approval and Reservation with ROC

“LLP-RUN” i.e. “Limited Liability Partnership-Reserve Unique Name” is required to register for the reservation of the proposed LLP’s name. This is additionally treated by the Central Registration Center under Non-STP. In any case, before circulating the name in the form, it is suggested that you utilize the free name search facility on the “LegalRaahi” website. “One to six” is the limit of proposed names, which are to be given to the “MCA”. The registrar will approve the name only if the name is not impractical in the opinion of the Central Government and does not match any existing partnership firm or an LLP.

The Name approval procedure will take 5 to 7 working days. A re-submission of the form should be made within 15 days, in case of an occurrence of dismissal.

Step 4: MOA & AOA submission

Once the name is approved, one is required to draft, “Memorandum of association (MoA)” and “Articles of Association (AoA)”. Both “MOA and AOA” are to be registered with the MCA, in the agreement statement.

Step 5: Get Incorporation Certificate of LLP

The form utilized for joining is FILLIP (Form for consolidation of Limited Liability Partnership) which must be enrolled with the Registrar who has jurisdiction over the state in which the enrolled office of the LLP is located. The form will be an incorporated structure. Joining records can be introduced to the “MCA” alongside an application for Incorporation. “MCA” will endorse the application for consolidation within 5 to 7 days. Incorporation certification is confirmation that the organization has been formed. It likewise includes your CIN number.

Step 6: Appeal for PAN, TAN and Bank account

After the completion of the above points, you are required to apply for “PAN and TAN” and you will receive them in 7 working days. You can submit the Incorporation endorsement, “MOA, AOA, and PAN” with the bank for opening your bank account.

Step 7: Register for LLP Agreement

LLP agreement oversees the common rights and obligations between the LLP and its partners. LLP agreement should be enrolled in Form 3 which is to be filed within 30 days after the date of formation.

Why choose LLP Registration?

  • It has a different legal entity, not at all like partnership firms.
  • The liability and duty of each partner are limited to the commitment made by the partner.
  • An LLP has a ‘never-ending progression’ that is broadened endurance until it is brought to an end by a shared agreement between the partners.
  • The expenditure on establishing an LLP is low.
  • An audit is not required as LLPs are medium and independent companies
  • Less agreement and guidelines in the formation of LLP.
  • No terms for least capital commitment.
  • The responsibility of an LLP can be effortlessly moved to someone else. All you require is to select them as a Designated Partner of the LLP.
The least number of partners to join an LLP is 2 and there is no restriction over the maximum number of partners. The force and duties of assigned partners are managed by the LLP agreement. They are straight responsible for the consistency of all the considerable number of arrangements, mentioned in the LLP Act, 2008 and terms characterized in the LLP agreement.

Eligibility For LLP Registration

Minimum 2 Partners (18 years and above age)

No Capital Requirement

At least one Designated Partner as Indian Resident

DPIN for all Partners

Important forms in LLP Registration

  • RUN – LLP Reserve Unique Name-Limited Liability Partnership- A form for reserving a name for the LLP
  • FiLLiP – A Form for incorporation of LLP
  • Form 5- Notice for change of name
  • Form 17- Application and statement for the conversion of a firm into LLP
  • Form 18- Application and Statement for conversion of a private company or unlisted public company into LLP

Checklist: If your company qualifies for LLP in India

A must company, fulfill certain requirements, for it to be enlisted as an LLP

Any company who has:

    • At least 2 partners. There is no restriction over the maximum number of partners. The designation of a natural person if a “corporate body” is a Partner.
    • Each partner needs to contribute towards it, as no shared capital prerequisite, however.
    • Least capital commitment: There is no base capital amount required for an LLP (or a company, for that matter). The LLP should have an endorsed capital of Rs.1 lakh.
    • Minimum 1 Designated Partner who is a “resident of India”.
    • DPIN for all Partners
    • DSC for all the Designated Partners
    • Address proof of the registered office of the “LLP”. Even a rented home can be the registered office, as long as an NOC is obtained from the landlord.

What are the Compliance Requirements after an LLP Company Registration in India?

Post-Incorporation Compliances

When a Limited Liability company enrollment is done, then the recently incorporated LLP is relied upon to get done with the following compliances. These compliances are one time in nature and are not repeated.

1. Partnership Agreement Filing
2. Apply for PAN & TAN
3. Open Bank Account

Annual Compliances Requirements after the LLP Registration

After the completion of the formation procedure, LLP is relied upon to comply with the yearly consistent necessities. If the number of transactions after the LLP registration is zero, then LLP will record NIL return.

The following returns are relied upon to be enlisted:

1. Statement of Account & Solvency
2. LLP Annual Return
3. Income Tax Return

Penalties Provisions in LLP annual compliance default

  • According to the “Limited liability Partnership Act, 2008”, it is compulsory to register for all the prescribed compliances on an annual basis. There is a provision for a penalty, in case of any failure in registering Form 8 and Form 11, for reporting of the LLP’s financial statements and annual returns. A fixed amount of Rs.100 per day, for each agreement that is not registered. No maximum limit is specified.
  • Every enrolled LLP is required to do Income tax return filing with Annual filing. This filing should be done before the 30th of September every year. After LLP registration, any LLP which fails to meet this deadline will be imposed with a penalty of Rs.5,000 and the filing must be done by 31st December of that year. If the LLP fails to reach this deadline, then the penalty amount will be double that is Rs.10,000.

It takes 15 to 30 working days (approx.) to complete the Limited Liability Partnership Registration method. The timeline may fluctuate depending upon reactions from the ROC department.

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Frequently Asked Questions

What is the minimum number of Partners required to start a Limited Liability Partnership?
Who can become a partner in an LLP?
Do I have to be available in-person to incorporate an LLP?
Once I pay for the incorporation, is there any other payment before I get the Incorporation Certificate?
How much money do I need to invest upfront in starting the business?
Can NRIs/Foreign Nationals be a Designated Partner in an LLP?
Can I register the LLP at my home address?
Can a Salaried working person also become a partner in an LLP?
Can I convert my “Limited Liability Partnership (LLP) to a Private Limited company”?
In which cities do “LegalRaahi” provide LLP formation services?