LLP Registration India | Online Process
LLP registration is a quick and easy process with us. Get your Limited laibility partnership registration online within 7-10 days with no physical presence. Registering for an LLP is a relatively easy process without any hassle. Get it registered today, submit documents, and get your LLP company certificate.
Fill out the form & submit the details, our business experts will get on a call with you to explain the complete process.
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LLP Registration (Limited Liability Partnership) in India Online
LLP registration has become a popular form of a business entity as it has enjoyed similar benefits of a company & a partnership firm into a single form of organization.
The Limited Liability Partnership Act, 2008 regulates LLPs in India & was first introduced in India in 2008.
A minimum of 2 partners are required to incorporate an LLP, where all the participating members have limited liabilities.
This means that no single partner is responsible for the losses or any misconduct of any other partner.
What Is An LLP Company?
LLP Company is a corporate business entity that has a hybrid combination having features of both the Private Limited Company & partnership flexibility.
It has low compliances & fewer regulations. No requirements for minimum capital contribution. It has a separate legal existence from its partners.
What are the Basic Features of LLP Registration?
LLP companies are among the most preferred forms of business in India which have several characteristics that separate them from other business entities. These are as follows:
- Legal Identity: Limited liability partnerships are recognized as distinct legal entities, in contrast to traditional partnership firms as LLPs can hold assets and take on debt in their names. In their names, they can also bargain, file lawsuits, and be sued.
- Partner Liability: Partners in an LLP have separate and constrained liabilities. Therefore, the partners’ assets may be used as collateral when an LLP firm faces special legal repercussions related to debt payments. However, partners’ obligations can grow to be limitless in cases of fraud, the commission of an infringement, or any other wrong and unlawful act.
- Number of Partners: LLPs can be formed with as few as two designated members, while there can be an unlimited number of partners.
Who Is Eligible For LLP Registration In India?
Before incorporating an LLP company, we need to check the following eligibility criteria for getting it registered:
- Partners: Minimum 2 partners are required to start an LLP
- Limit of Partners: No maximum limit of partners
- Nationality: One partner should be an Indian resident.
- Capital Requirement: No minimum capital is required to start an LLP except stamp duty.
- Availability of Name: The name should be unique, not similar to any existing company or LLP
- Audit Requirements: Audit is not compulsory.
If turnover exceeds Rs. 40 Lacs or the contribution is Rs. 25 Lacs then it will be a mandatory audit requirement in the LLP in India.
Documents Required For LLP Online Registration
Following is the list of documents required for llp registration online, we need to submit these documents for getting it register with the MCA:-
- PAN cards of all partners are required.
- Identity Proof of all partners: Aadhar card/Voter Id Card/Passport/Driving License
- Passport Size Photos of all the partners.
- Business Address Proof (Latest electricity bill or telephone bill of the registered office of the premises)
- NOC from the Owner / Rent Contract (If Rented)
- For partner’s resident Proof- Latest Bank Statement/Mobile or Telephone Bill/Gas or Electricity Bill
PAN Card
both Shareholder and Directors
Passport Size Photos
(Latest photos of the partners
Rent Contract
If Rented
NOC
(From the Owner)
Identity Proof
For Directors/Shareholder Aadhar card/voter id/passport/Driving License
Business Address Proof
Latest electricity bill or telephone bill of the registered office
Residential Proof
Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
LLP Registration Process In India
Step 1: Digital Signature Application
A digital signature is an electronic signature issued by the certifying authorities that validates the identity of the person holding the signature.
The first step in LLP registration online is to obtain a Digital Signature Certificate, to authenticate the identity of a company. Applicants can complete all the document submission phases online.
Step 2: Filing Name Application with the MCA
The name should be unique, and not similar to any existing companies.
The next stage is to submit the form LLP-RUN. The complete full form is Limited Liability Partnership-Reserve Unique Name, as the name should be unique not resemblance with any existing company.
This form is filed for reserving a company’s proposed name under which applicants will operate their company’s functions. The company name is processed by the CRC or Central Registration Center under Non-STP.
The whole process is completed through the Ministry of Corporate Affairs portal. This form is typically accompanied by several other legalities, like paying the fee. The registrar will approve the name after careful consideration.
The registrar may approve or reject the name for which applicants can re-apply after rectifying the suggested corrections.
Step 3: DIN Application and Incorporation of LLP
Applicants must fill out a form called FiLLiP (Form for Incorporation of Limited Liability Partnership and DIN application).
Applying for DIN is a mandatory requirement that designated partners of the LLP need to complete. Ensure they avoid issuing a firm’s ownership to another person due to the same name or another body or organization functioning with the same name.
This form is submitted to the central registrar via the MCA portal along with the prescribed fee.
Step 4: Filing LLP Agreement
An LLP agreement is a governing document that states the mutual rights and duties of the partners. It usually comes under Form 3, which is available on the MCA portal.
The said form has to be filled out within 30 days from the date of incorporation. Applicants are required to get this agreement printed on a stamp paper value, which may vary from state to state or region to region.
Why JustStart For LLP Registration?
Starting and running a business is not a piece of cake, and is generally more harder than it sounds. If you need to start and run a Limited Liability Partnership smoothly, you will need a team of legal experts by your side.
A team of legal advisors will help your business grow by helping you tackle the toughest legal obstacles through their expertise. Also, know how to convert partnership firm to llp to grow your stratup by doing startup registration India with JustStart expert team.
Effective Legal Guidance: With our effective legal guidance, your Limited Liability Partnership (LLP) will thrive and flourish. Our expertise ensures that your company’s growth remains unimpeded by any potential legal obstacles. Trust in our guidance to safeguard your business from legal troubles and unlock its true potential.
Expert LLP Consultants: Our team of highly experienced LLP legal consultants offers a wealth of expertise and knowledge to guide you in making informed decisions that align with the best interests of your Limited Liability Partnership (LLP).
With their credible and valuable advice, you can navigate the complexities of LLP regulations with confidence, ensuring the success and prosperity of your business.
Constant Support: We are committed to providing constant support to foster the growth of your LLP company. Our team of dedicated LLP experts has helped numerous clients successfully navigate the intricacies of running their LLP businesses.
We go the extra mile by offering ongoing support, even beyond the registration of your company, ensuring that you can rely on our expertise whenever you need it.
Client Satisfaction: By leveraging our strategies, we prioritize the happiness and success of our clients in their business growth.
Through our dedicated legal advice, we are committed to assisting our clients in achieving remarkable growth for their LLP firms. Our unwavering focus remains on empowering your business with the guidance and support it needs to thrive.
Also, read more about to know Limited Liability Partnership V/S One Person Company in detailed.
LET'S CLEAR ALL THE DOUBTS!
What is a limited liability partnership?
Commonly abbreviated as LLP, limited liability partnership firms act as alternative corporate business entities that offer the benefits of a limited liability company as well as a partnership firm, such as:
- Separate Legal entity from its partners as LLP is distinct from its partners.
- Partners have limited liability to bear the losses.
- Continued existence irrespective of partners moving out. This is a perpetual succession & contract entered in the name of the LLP.
What is the governing law of LLPs?
Limited liability partnership firms are governed under the Limited Liability Partnership Act, 2008. These firms are regulated and governed by the Ministry of Corporate Affairs.
What is the structure of a limited liability partnership firm?
A limited liability partnership firm is considered a body corporate and has a separate legal structure from its partners to ensure perpetual succession.
What are the advantages of limited liability partnership firms?
Limited liability partnership business models offer several advantages, including:
- They can operate on an agreement model.
- It offers flexibility by not imposing more requirements for legal and procedural documentation.
What are the eligibility criteria for forming an LLP?
Any individual/ body corporate/ organization that wants to become a member of an LLP must fulfill the following eligibility criteria:
- Must have sound mind as founded by a court of competent jurisdiction.
- Should not have any court case pending
- At least one partner should be a resident of India.
Are there any other countries where LLP business models are available?
Yes. The LLP structure can broadly be observed in other countries like the United States of America, the United Kingdom, Australia, and a few Gulf countries. These countries follow strict legislation, allowing the creation of LLPs as legal entities.
What is the difference between limited liability partnership forms and other traditional partnership forms?
- Traditional partnership forms: Partners are liable for financial loss jointly along with other partners.
- LLP structure: Partner liability is limited as per an agreed contribution. No independent accountability.
What are the disadvantages of setting up an LLP?
One of the most prominent disadvantages of forming an LLP is that these business entities cannot bring IPOs, which makes them unable to raise financial aid as easily as IPOs can.
How much do LLP Registration Services cost?
The amount payable to register an LLP depends on the nature of the limited liability partnership consultancy that you have hired and the professional fee they charge. For example, JustStart’s professional services range about Rs. 6799 (inclusive of all taxes).
What services can I expect related to LLP registration if I hire Juststart for LLP registration online?
Some of the basic services that we provide in our LLP package are:
- LLP name approval and reservation
- Obtaining Digital signature certificates of one partner
- DIN number of the partners of the LLP
- Certificate of Incorporation
- LLP’s PAN + TAN
- LLP Agreement
- Zoho credit subscription
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Some Specials Words From Our Clients
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