LLP Registration in India.

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LLP Firm Registration - Online Process, Importance, Documents Required

"Limited Liability Partnership, commonly known as 'LLP,' is a contemporary business structure in India that combines the limited liability advantages of a private limited company with the flexibility of a partnership firm. The concept of the LLP was introduced in India in 2008 and is governed by the Limited Liability Partnership Act, 2008."

"LLPs offer the advantage of lower maintenance costs and reduced compliance requirements, making them a favored choice among entrepreneurs. This business structure is particularly well-suited for small and medium-sized enterprises."

"Starting and managing a Limited Liability Partnership in India is a straightforward process. To register an LLP, a minimum of two partners is required, and there is no upper limit to the number of partners. The LLP Agreement governs the rights and duties of the designated partners, who are directly responsible for compliance and all the provisions outlined in the LLP agreement."

What is LLP Registration in India?

An LLP (Limited Liability Partnership) is a widely chosen business structure in which partners with limited liability benefit from the safeguarding of their personal assets against debts, liabilities, and damages. An LLP is considered a distinct corporate entity, separate from its partners, with the added advantage of perpetual succession in every state. It is registered under the provisions of the LLP Act, 2008.

An LLP (Limited Liability Partnership) is a business structure that combines the limited liability benefits of a company with the flexibility of managing internal affairs based on mutually agreed-upon terms, akin to a partnership firm. Partners in an LLP enjoy reduced personal liabilities for any prospective debts incurred while operating the business.

Benefits of LLP Firm Registration

The benefits of forming an LLP in India include:

01Distinct Legal Entity:

An LLP is recognized as a distinct legal entity separate from its partners, offering a significant advantage not accessible to traditional partnership firms.

02Limitation on Liability:

It assists in safeguarding the personal assets of the owners through limited liability protection.

03Reduced Expenses:

The expense of registering an LLP is notably lower when compared to a private limited company.

04No Mandatory Capital Requirement:

An LLP can be established with a minimal amount of capital because there is no obligatory minimum capital requirement for its formation.

05Streamlined Regulatory Obligations:

One of the primary advantages of registering an LLP is its reduced compliance burden. The mandatory annual compliance requirements for an LLP are minimal, especially when the turnover is below 40 lakhs, making LLP audits optional.

Checklist for LLP Firm registration in India

The necessary steps for establishing an LLP in India are:

A minimum of two partners is required.
At least one partner must be an Indian resident.
Digital Signature Certificates (DSCs) are required for all designated partners.
Designated Partner Identification Number (DPIN) is needed for all designated partners.
The LLP must have a distinct name that is dissimilar to any existing LLP, company, or trademark.
The partners of the LLP need to make a capital contribution.
An LLP agreement must be established among the partners.
Address verification for the LLP's office is required.

Procedure of LLP Firm Registration

The step-by-step process for registering an LLP in India includes the following:

Step-1
Acquire Digital Signature Certificates (DSCs)

The initial phase of LLP registration in India involves the application for digital signatures for all the designated partners of the intended LLP. The LLP incorporation process is entirely digital, with all documents submitted online and requiring digital signatures.

The designated partners, whose signatures are to be affixed on the e-forms, are required to obtain Class-3 Digital Signature Certificates from government-recognized certifying agencies.

Step-2
Application for Designated Partner Identification Number (DPIN)

You must apply for the Designated Partner Identification Number (DPIN) for all designated partners or those who intend to become designated partners of the proposed LLP.

Step-3
Approval of LLP Name

The LLP-RUN (Limited Liability Partnership-Reserve Unique Name) form is submitted to reserve the name of the intended LLP. When submitting the name application, it is advisable to ensure that the name is distinct and not similar, identical, or phonetically resembling existing LLPs, companies, firms, and trademarks.

You can conveniently verify name availability by using our free LLP name search tool or company name search tool. The system will generate a list of names that are similar or closely related to existing companies or LLPs based on the search criteria.

If it fulfils all the prerequisites, the proposed name of LLP is approved by the Central Registration Centre of the Ministry of Corporate Affairs if found in the ordinance.

Step-4
Formation of LLP

The FiLLip form has to be filed for incorporation of Limited Liability Partnership with the Registrar having jurisdiction over the state in which the registered office of the LLP is located. Details which has to be filed in the FiLLip form are:

  1. Location of the registered office
  2. ROC
  3. Business Activity Code or Business Classification Code
  4. The count of designated partners and partners
  5. Individual Information of Designated Partners and Partners
  6. Contributions made by Designated Partners and Partners
  7. Certification by a practicing professional (Chartered Accountant, Company Secretary, Cost and Management Accountant)
  8. The Registrar will register the LLP if the documents meet the applicable provisions of the LLP Act. Following the approval of the FiLLip form, the Certificate of Incorporation is issued within 14 days in Form-16 by the Central Registration Centre of the Ministry of Corporate Affairs under the official letterhead of the Government of India.

Step-5
Submission of LLP Agreement and Partner's Information

The LLP Agreement is a crucial document for an LLP as it governs the mutual rights and responsibilities of the partners, as well as the relationship between the LLP and its partners.

  1. The LLP agreement should be submitted online using Form-3 on the MCA portal.
  2. The details of partners should be filed using Form-4 on the MCA portal.
  3. The LLP agreement needs to be drafted and submitted under Form-3 within 30 days of the incorporation date.
  4. The LLP agreement may need to be executed on non-judicial stamp paper, but the requirement can vary depending on the specific state's regulations in India. It's important to check the stamp duty requirements applicable to your state.

Documents required for LLP registration

Incorporating a Limited Liability Partnership (LLP) typically requires the submission of documents from both the partners and the LLP.

Documents of the partners, including their identification and address proofs, need to be submitted during the incorporation of a Limited Liability Partnership (LLP).
  • Identification proof of the partners, such as Aadhar card, passport, driver's license, or any other government-issued ID, is required during the incorporation of a Limited Liability Partnership (LLP).
  • Address proof of the partners, which can include documents like utility bills, bank statements, or rental agreements, is essential during the incorporation of a Limited Liability Partnership (LLP).
  • Proof of residence of the partners, such as utility bills, rental agreements, or any other documents verifying their residential address, is a requirement during the incorporation of a Limited Liability Partnership (LLP).
  • Passport size photographs of the partners are typically required during the incorporation of a Limited Liability Partnership (LLP).
  • For foreign nationals or non-resident Indians (NRIs), a valid passport is required during the incorporation of a Limited Liability Partnership (LLP).
The required documents for an LLP (Limited Liability Partnership) registration in India generally include:
  • Proof of the registered office address remains a crucial requirement for LLP registration. This proof can include documents like utility bills, rental agreements, or ownership documents that verify the location of the registered office.
  • Digital Signature Certificate (DSC) remains a mandatory requirement for various aspects of LLP registration and compliance. DSCs are needed for digitally signing documents and forms submitted during the registration process, ensuring the authenticity and security of electronic documents.

Documents you’ll get after LLP registration

After registering an LLP in India, you will typically receive the following documents:

  • Certificate of Incorporation remains unchanged as it is an official document confirming the formation of the LLP, containing details such as the LLP's name, registration number, and date of incorporation.
  • The LLP Agreement remains unchanged, as it is a crucial document that governs the mutual rights and duties of the partners and the relationship between the LLP and its partners.
  • Form FiLLiP
  • Form-3 remains as is because it is the form used for filing the LLP Agreement within 30 days of the date of incorporation.
  • LLP PAN (Permanent Account Number) remains as it is, as it's a crucial document required for taxation and financial transactions for the LLP.
  • LLP TAN (Tax Deduction and Collection Account Number) remains the same, as it is needed for tax deduction at source, where applicable for the LLP.
  • Payment Challan, often referred to as a fee or payment voucher, is a document used to make payments for various statutory and financial transactions. This document typically remains unchanged in its purpose and usage.
  • Company Master Data is the fundamental information about a company, including its name, registration number, address, directors, and other essential particulars. This data remains crucial for the company's official records and reporting, and its significance remains the same.
  • Digital Signature Certificates (DSCs) and Designated Partner Identification Numbers (DPINs) are still required for designated partners in the process of registering an LLP in India. These requirements remain unchanged.

LLP Firm Registration Fees

The total fee for LLP firm registration in Rs. ₹7,499 Only which includes the Government fee as well professional fee of Docs Uncle.

  1. Digital Signature Certificate: The cost of ₹2,000 remains unchanged, but it's important to note that this amount could be related to various fees or expenses, depending on the context.
  2. Government Fee: The amount of ₹1,500 remains unchanged and is still a specific monetary value. Depending on the context, it could refer to fees, costs, or expenses associated with a particular process or service.
  3. Professional Fee: The value of ₹3,999 remains unchanged. Depending on the context, it could refer to a specific cost, fee, or expense associated with a particular service or transaction.
  4. Total Fee: The value of ₹7,499 remains unchanged. Depending on the context, it could refer to a specific cost, fee, or expense associated with a particular service or transaction.

How to register an LLP with Docs Uncle?

The professional team at Docs Uncle can assist you in registering a Limited Liability Partnership in India. You can easily register your LLP online in a quick and cost-effective manner through three simple steps:

Step 1:
Get in touch via call or contact form

Step 2:
Provide necessary documents

Step 3:
Get your LLP registered in 7-14 days

Time required for Partnership registration

On average, it takes around 7-10 working days for registration of Partnership firm in India subject to document verification by the concerned authorities.

Explore our company incorporation packages.

Basic

Suitable for Startups

₹7,499

Services Offered

  • LLP Incorporation Certificate
  • DSC for Partners
  • DPIN for Partners
  • Stamp Duty Charges
  • LLP PAN & TAN Application
  • Drafting of MOA & AOA
  • Company Master Data
  • LLP Agreement Drafting
  • EPF Certificate
  • ESIC Certificate

Standard

Suitable for Businesses

₹14,999

Services Offered

Basic Plan

  • GST Registration
  • Auditor Appointment
  • Commencement of business
  • Issuance of Share Certificate
  • MSME Registration
  • Copies of Business Documents

Premium

Suitable for Corporates

₹34,499

Services Offered

Standard Plan

  • Trademark Registration
  • Current Account Opening Support
  • Annual Compliance
  • Startup India Registration

Frequently Asked Questions (FAQs)

The registration fee for LLP companies in Delhi is Rs 7,499 which includes DSC for minimum 2 members, 1 Lakh Authorised capital, Government Stamp duty as well as Professional Fees of Docs Uncle.

The fee for online registration process of Partnership Firm is ₹11,999 at Docs Uncle. But it may vary from state to state.

To register a LLP Company in Delhi you need to provide with some of the basic documents such as Aadhar card, PAN Card, registered office address, DPIN, DSC etc.

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