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LLP Registration

Need to register Limited Liability Partnership?

Limited Liability Partnership Registration Starting at Just Rs.7,499/- (Inclusive of all Govt. Fees).

About Limited Liability Partnership

Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners. A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization and one partner is not responsible or liable for another partner's misconduct or negligence. Therefore, all partners have a form of limited liability for each individual's protection within the partnership, similar to that of the shareholders of a corporation. However, unlike corporate shareholders, the partners have the right to manage the business directly. An LLP also limits the personal liability of a partner for the errors, omissions, incompetence, or negligence of the LLP's employees or other agents. LLP is one of the easiest form of business to incorporate and manage.

The LLP is also cheaper to incorporate than a private limited company, requires fewer compliances and can be a smart choice from a tax perspective. However, if you're looking to raise venture capital or attract talent with employee stock options, private limited is the way to go as LLPs cannot easily accommodate it. This is why they are most popular with professional services firms (web designers or architects, for example) that require no equity funding.

ADVANTAGES OF LIMITED LIABILITY PARTNERSHIP

A LLP is a legal entity and a juristic person established under the Act. Therefore a LLP form of organization has wide legal capacity and can own property and also incur debts. The Partners of a LLP have no liability to the creditors of a LLP for such debts.

A LLP has 'perpetual succession', that is continued or uninterrupted existence until it is legally dissolved. A LLP, being a separate legal person, is unaffected by the death or other departure of any Partner but continues to be in existence irrespective of the changes in Partnership.

A LLP does not require audit if it has less than Rs. 40 lakhs of turnover and less than Rs.25 lakhs of capital contribution. Therefore, LLPs are ideal for start-ups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.

The ownership of a LLP can be easily transferred to another person by inducting them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.

A LLP being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.

Limited Liability means the status of being legally responsible only to a limited amount for debts of a LLP. Unlike proprietorships and partnerships, in a LLP the liability of the members in respect of the LLP's debts is limited. Businesses often need to borrow money. In a General Partnership, partners are personally liable for all this debt.

An LLP only requires audited annual returns to be filed if it has a turnover of greater than Rs. 40 lakh or capital contribution of over Rs. 25 lakh. It also needs to communicate fewer business transactions and structural changes than a private limited company.

There are some important advantages over the private limited company. For example, Dividend Distribution Tax and tax surcharge don't apply. Loans to partners are also not taxable as income.

LLP INCORPORATION PROCESS

Obtaining DSC & DIN

Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN) is required for the proposed Partners of the LLP. DPIN and DSC can be obtained for the proposed Partners within 1 day.

Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 1 day.

Company Registration

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 2 days, subject to their processing time.

Success means having the courage, the determination, and the will to become the person you believe you were meant to be.

Documents Required for LLP Registration

To Be Submitted By Partners

  • PAN Card;
  • Aadhar Card/Voter's ID/Passport/Driver's License;
  • Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill;
  • Photograph;
  • Specimen signature (blank document with signature)

For The Registered Office

  • Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill;
  • Notarised Rental Agreement;
  • NOC from Owner;
  • Sale Deed/Property Deed(in case of owned property)

Note:

Any one of the partners must self-attest the first three documents. In case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).

Your registered office need not be a commercial space; it can be your residence, too.

Basic
7,499
/-

(Inclusive of all Govt. Fees).

DSC
DPIN
Name Approval
Fees And Stamp Duty
PAN
TAN
Partnership Deed
BASIC WEBSITE FREE



Get Started

Standard
8,999
/-

(Inclusive of all Govt. Fees).

DSC
DPIN
Name Approval
Fees And Stamp Duty
PAN
TAN
Partnership Deed
One year TDS filing
GST Registration
BASIC WEBSITE FREE

Get Started

Ultimate
14,999
/-

(Inclusive of all Govt. Fees).

DSC
DPIN
Name Approval
Fees And Stamp Duty
PAN
TAN
Partnership Deed
One year TDS filing
GST Registration
Trademark Registration
BASIC WEBSITE FREE

Get Started

FAQ for LLP Registration

What is a Digital Signature Certificate?

A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that all Designated Partners apply with a Digital Signature for Designated Partner Identification Number. Hence, a Digital Signature is required for all Designated Partner of a proposed LLP.

What is Designated Partner Identification Number (DPIN)?

Designated Partner Identification Number is a unique identification number assigned to all existing and proposed Designated Partner of a LLP. It is mandatory for all present or proposed Designated Partner to have a Designated Partner Identification Number. Designated Partner Identification Number never expires and a person can have only one Designated Partner Identification Number.

What is the capital required to start a Limited Liability Partnership?

A limited liability partnership can be started with any amount of capital. A partner's tangible or intangible assets can be counted as a benefit to the LLP.

How many people are required to incorporate a Limited Liability Partnership?

To incorporate a Limited Liability Partnership, a minimum of two people are required. A Limited Liability Partnership must have a minimum of two Partners and can have a maximum of any number of Partners.

What are the requirements to be a Partner in a LLP?

The Designated Partners needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India.

Can a LLP be incorporated for undertaking "Not-For-Profit" activities?

No, one of the essential requirements for setting LLP is 'carrying on a lawful business with a view to profit'. Therefore, LLP cannot be incorporated for undertaking "Not-For-Profit" activities.

Is an office required for starting a Limited Liability Partnership?

An address in India where the registered office of the LLP will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.

Do I have to be present in person to incorporate a LLP?

No, you will not have to be present at our office or appear at any office for the incorporation of a Limited Liability Partnership. All the documents can be uploaded online.

How long will it take to incorporate a LLP?

We can incorporate a Limited Liability Partnership in 7-8 days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy incorporation, please choose a unique name for your LLP and ensure you have all the required documents prior to starting the incorporation process.

What do I need to quickly incorporate my LLP?

To incorporate a LLP quickly, make sure the proposed name of the Limited Liability Partnership is very unique. Names that are similar to an existing private limited company / limited liability partnership / trademark can be rejected and additional time will be required for resubmission of names.

How long is the incorporation of the LLP valid for?

Once a Limited Liability Partnership is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the LLP will become a Dormant and maybe struck off from the register after a period of time.

What are the annual compliance requirements for a LLP?

LLPs are required to file an annual filing with the Registrar each year. However, if the LLP has a turnover of less than Rs.40 lakhs and/or has a capital contribution of less than Rs.25 lakhs, the financial statements do not have to be audited.

Is Foreign Direct Investment (FDI) allowed in LLP?

Yes, Foreign Direct Investment (FDI) is allowed in LLP under the automatic route in sectors allowed by the Foreign Investments Promotion Board (FIPB). However, Foreign Institutional Investors (Flls) and Foreign Venture Capital Investors (FVCIs) will not be permitted to invest in LLPs. LLPs will also not be permitted to avail External Commercial Borrowings (ECBs.)

Can an existing partnership firm or company be converted to LLP?

Yes, an existing partnership firm or a company that is unlisted can be converted into LLP. There are many advantages of converting a partnership firm into a LLP; however, the same doesn't apply for the conversion of a Company to a LLP.

What comes as a part of the Legal Documents Library?

Legal documents like Employment Letter, Legal Notice, Non-Disclosure Agreement, Terms of Service and Privacy Policy etc. are a part of the Legal Documents Library.

Can an LLP converted into Private Limited Company or a Public Limited Company?

No, right now Act does not permit this conversion. An Llp can't be converted into Private or Public limited but a Private or Public Limited Company can be converted into LLP.

Is LLP a better business type to raise funds from Private investors?

No LLP is not a good instrument to raise funds from Private investors. Investors invest in a company in lieu of the equity or stake but in LLP, the investors do not get to hold stake.

Can NRIs/Foreigners work as partners in LLP?

Yes, NRIs and Foreign nationals can work as partners in a Limited Liability Partnership. They need to obtain a DPIN (Designated Partner Identification Number). But the only condition is that among the other partners there has to be one of Indian origin/national.

Can a Salaried person become the director in LLP?

Yes, a salaried person become the director in LLP, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.

How to choose the name of the company?

First ensure that company name is not similar to any other Private Limited, OPC, LLP or Public limited company. Also, do check If your first is not a registered trademark taken by anybody under the IP Act.

Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives.

While choosing the name make sure that name should contain the objective of the business like if the objective is IT then the name should contain Technology, Technosoft, IT consultancy.

Compare Your Options


Sole Proprietorship Partnership Firm Limited Liability Partnership One Person Company Private Limited Company
Recommended For Small manufacturers & traders Home businesses Professional services firms Solo promoters Start-ups and growing companies
Limited Liability Protection No No Yes Yes Yes
Tax Benefits High High Moderate Moderate Moderate
Perpetual Existence No No Yes Yes Yes
Statutory Compliances Minimal Minimal Low High High

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